Feb 23 2011
Arborview Capital announced today that it has completed the acquisition of Drexel Metals Inc., a provider of energy efficient standing seam metal roofing systems, in partnership with the Company’s management.
As a result of the financing, Karl Khoury and Joseph Lipscomb of Arborview Capital will join Drexel Metals’ Board of Directors.
"The Arborview partnership allows Drexel Metals to continue rolling out our comprehensive, industry-leading metal roofing solution,” said Rob Waite, CEO of Drexel Metals. “Our solution enables roofing contractors and distributors to achieve higher profit margins while providing a superior quality Drexel Metals branded roof that is weather resistant, energy efficient, warranty protected and easy to install. As one of the most durable and cost effective roofing alternatives, the Drexel Metals system is transforming the expanding market for standing seam metal roofing,” said Waite.
With buildings accounting for more than one-third of global energy consumption, improving building energy efficiency is a proven and cost-effective way to reduce energy consumption. A building’s shell, which includes the roof, represents over 60% of a building’s potential energy efficiency savings. Metal roofing has compelling advantages that are driving market demand including increased energy efficiency (20 – 30% more efficient than asphalt shingles), superior durability (40+ year life versus 20 for asphalt), and low maintenance costs. Because it qualifies for LEED, Energy Star and Federal Energy Efficiency Tax Credits, standing seam metal roofing is nationally recognized as a leading energy efficiency product.
“As the proven innovation leader in the standing seam metal roofing market, Drexel Metals will now have the financial strength to expand in both domestic and international markets and to pursue select strategic investments,” said Karl Khoury of Arborview. “Their experience and customer-centric approach has enabled the Company to be a disruptive force in the industry. With standing seam metal roofing emerging as the platform of choice for roof-mounted solar, Arborview looks forward to helping Drexel Metals expand its presence in the solar market, as well.”
“Energy efficiency is a key area of focus for our firm as we continue to build a diversified portfolio of clean energy investments,” said Karl Khoury of Arborview. "Drexel Metals fits squarely into Arborview’s risk-adjusted growth equity investment strategy. We seek to invest in established businesses that have strong leadership and superior organic growth potential. We look forward to working with Rob Waite and Company President Brian Partyka to continue building upon the Company’s track record of success.”
Source: http://www.drexelmetals.com/