Dallas-based Renovo Home Partners continues to expand nationwide with the acquisition of Minnesota Rusco, marking its seventh such investment in the home improvement space since launching earlier this year.
For Renovo, the purchase is the first of a company in the Midwest. It adds Minnesota Rusco to a powerhouse of a portfolio that includes industry-leading giants Dreamstyle Remodeling, Alure Home Improvements, Remodel USA, NEWPRO Home Solutions, Woodbridge Home Solutions, and Reborn Cabinets. The deal with Minnesota Rusco was announced on October 13, 2022.
“It is the brand in Minnesota,” said Renovo’s Chief Executive Officer John Dupuy. “What we’re doing is a buy and build strategy. We buy great regional leaders like Minnesota Rusco and we’re adding to them with best-in-class IT systems, HR, finance, and accounting. It truly is a partnership.”
Minnesota Rusco has offered a wide array of home improvement products in its 65-plus years of service. It sells replacement windows, doors, and siding under the Minnesota Rusco Brand, but also offers bath remodeling and tub-to-shower conversions under the Minnesota Shower and Bath brand and kitchen restyling under the Rusco Kitchen Remodeling (RKR) brand.
At $60 million in annual revenue, Minnesota Rusco leadership believes it’s the largest single-location remodeler in the United States. So, it’s not surprising that it was courted by at least a half dozen private equity firms over the past six months.
“I chose Renovo because I was interested in staying in the business and mentoring the young leadership that’s really running the place,” said Minnesota Rusco’s Chief Executive Officer Jay Deems. “The name–Renovo Home Partners–partners is a key word. They acquire but you keep your name, your brand, and your leadership–and they just provide assistance to grow. And it was important to me that I work with good people.”
This deal comes one month after the announcement that the country’s largest outdoor remodeling company, System Pavers, was acquired by The Cranemere Group in a separate private equity partnership.
Add new comment
Related Stories
Pro Remodeler’s 2024 Pinnacle Experience Reaches New Heights
The sold-out event covered leadership, lead gen, sales, and technology
Brian Gottlieb Receives Remodeling Mastery Award
Presented by industry icon, Mark Richardson, the award celebrated Gottlieb’s extraordinary impact on remodeling
What's Beyond the Hammer?
Working with Brian Gottlieb on the book Beyond the Hammer provided a masterclass on how to build an aligned team
5 Counterintuitive Strategies to Improve Your Business
Follow these strategies to inspire employees, instill trust, and beat the competition
Couple Act As Much More Than General Contractors
How LBR Partners uplifts and educates their Spanish-speaking trade partners
How to Correctly Hire for Business Growth
Refloor CEO Brian Elias shares exactly how his company hires the correct people for the correct seats
Josh Sparks: To Infinity (Exteriors) and Beyond
A roofer-turned-CEO who’s succeeding in his mission of up-leveling the industry
Home Improvement Success: Luck, Hard Work, or Who You Know?
Even the most brilliant marketing mind could see fewer opportunities due to lack of networking
Why A Successful Custom Remodeler Started a One-Day Bath Business
On this episode of Rock Stars of Remodeling, Showcase Remodels Owner Sam DeMaio shares why he decided to add a one-day bath business and offers tips on how contractors can accumulate wealth
3 Tips to Trim the Fat in Your Business
Director of Home Improvement Drew Barto writes that making these difficult decisions could help improve your bottom line