June 21, 2023: Indianapolis-based private equity firm CID Capital (“CID”) announced that its Georgia-based metal roofing distribution platform company, Georgia Metals (the “Company”), has acquired Neal Strickland Roofing and Deep South Metals. Terms of the deal were not disclosed.
Founded in 1974, Georgia Metals is a leading, regional provider of metal paneling, primarily used in roofing, wall panels, and other metal building-related products and accessories. The Company provides a broad selection of high-quality products with three locations that span the state of Georgia. Georgia Metals has a great reputation in its core market and was seeking to expand to new markets. The acquisition of Neal Strickland Roofing and Deep South Metals adds roofing installation service to the business along with new locations in Northeast Florida. This was Georgia Metals' first acquisition since CID invested in the Company in August of 2022.
"The business fit squarely into our strategic plan as we grow throughout the Southeast," said Tripp Strickland, CEO of Georgia Metals. "We are excited to expand operations into Florida and beyond in the coming years".
Cory Heck, Partner at CID, commented, “Neal Strickland Roofing and Deep South Metals' excellent reputation in the market made this a logical acquisition. We are happy to have played our role in helping to execute this combination.”
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About Neal Strickland Roofing / Deep South Metals
Neal Strickland Roofing was founded by the Strickland Family in 1983. In 2018 the family expended into value-added distribution of metal roofing panels. Today the Company services more than 20 counties in Northeast Florida, providing both roofing installation services and product to roofing contractors.
About Georgia Metals
Headquartered in Danielsville, GA, Georgia Metals is a leading value-added distributor of high quality metal panels used in roofing and other metal building applications. The Company also has locations in Moultrie, GA and Nahunta, GA providing statewide coverage.