Leaf Home Acquires Tundraland Home Improvements
Ohio-based Leaf Home announced today the acquisition of Wisconsin-based Tundraland Home Improvements, the latest move in the home improvement industry’s consolidation wave.
“For me, as the founder and CEO of the business, to be able to create a tremendous opportunity for the people inside of the organization far beyond whatever I could provide, that’s what it’s all about,” Tundraland CEO Brian Gottlieb told Pro Remodeler.
Leaf Home says this makes it “the acquirer of choice” for the industry and describes itself as a technology-enabled home solutions provider, offering services such as gutter protection, bathroom safety upgrades, stairlifts, cabinet refacing, and window and door replacement. Investment firm Gridiron Capital has backed Leaf Home since 2016.
Tundraland opened in 2009 and serves the entire state of Wisconsin, offering bath and shower remodels, cabinet refacing, and composite decking. Tundraland is one of the largest home improvement companies in the country with a revenue exceeding $98 million and nearly 265 employees.
This acquisition adds the service of decking to Leaf Home’s portfolio and falls under the Leaf Home Enhancements brand, one of the company’s four major divisions: LeafFilter Gutter Protection, Leaf Home Safety Solutions, Leaf Home Water Solutions, and Leaf Home Enhancements.
What it Means for Tundraland
For both Tundraland and Leaf Home, the alignment for the acquisition came down to people and culture.
“We have 260 team members that now have an opportunity to be part of a much, much bigger network,” says Gottlieb. “Tundraland will still be Tundraland Home Improvements, but it now has best in class horsepower behind it to really take it to new levels.”
Gottlieb says Leaf Home will focus on continuing to build the Tundraland brand and his commitment will be to helping both companies transition successfully for its customers, employees, and communities.
Leaf Home’s Recent Track Record
Most recently, Leaf Home acquired Chicago-based companies WindowWorks and Comfort Shower and Bath in December 2021, which, at the time, was the company’s seventh acquisition in 18 months. Other recent acquisitions include Bath Planet of Chicago and Bath Planet of Iowa, Quillen Brothers, and Storm Tight Windows of Texas.
Led by venture capitalist and former SoftBank managing partner Jeff Housenbold, the company earned a revenue of $1.1 billion in 2020 across its 150 locations.
“I’m thrilled to welcome the entire Tundraland team to Leaf Home,” Housenbold said in an emailed statement to Pro Remodeler. “Joining forces with Brian is a great opportunity to expand our product offerings and our customer centricity, and they have a great company culture that’s aligned with ours. We’re looking forward to what we can accomplish together.”
Housenbold joined the company in November 2021. He previously advised and invested in companies such as Groupon, Chegg, Compass, Katerra, and Opendoor, and served as Shutterfly’s CEO from 2005 to 2016.
