ATI Restoration, the largest family-operated restoration firm in the U.S., acquired ProCare Solutions in November 2021. A month later ATI acquired Lang Restoration & Construction. Both acquisitions are part of ATI’s accelerated growth strategy launched in 2020, which also included acquisitions of Mark 1 Restoration, QFB Property Restoration and J&M Keystone.
In this episode of Ask the Expert, ATI Restoration President Jeff Moore, ProCare Solutions Co-Founder Gus Timbers and Lang Restoration & Construction Founder Lawrence Nelson share first-hand accounts of the hot topic that is mergers and acquisitions (M&A) in the restoration industry. They revisit two unique acquisition stories and lessons learned through the lens of the buyer and the seller.
ATI has scaled from mom-and-pop operation with a 1,000-square-foot facility to 28 offices across 15 states. Having been through five acquisitions with plans for more growth, Moore says thoughtful growth is key to scaling while holding onto its family business identity.
“We will grow at a pace at which the organization can handle and nothing more. At the end of the day, we are a family business. We’ve got 1,500 families that we have to provide for and we can’t make mistakes along the path. We can’t just be chasing dollars. We’re chasing purpose,” Moore said.
This episode covers:
- The growth strategy of ATI Restoration and how M&A fits into it
- What ATI looks for in acquisition prospects, including people and profitability as two of the most important characteristics
- The unique, yet similar selling stories of ProCare Solutions and Lang Restoration & Construction to ATI Restoration including:
- Why Timbers and Nelson decided to sell their businesses, and what they sought in a buyer
- What the transaction process was like from the buyer and seller sides, including key milestones and timelines
- How Lang’s use of a broker and ProCare’s decision not to use a broker impacted the processes
- What happens after the deal is done on paper to integrate once-separate companies, from initial steps to long-term strategy
- How each business fits into the ATI family from branding to staff
- Biggest challenges faced during both acquisitions, from the buyer and seller sides
- Biggest lessons learned including the importance of managing your restoration business as if you are going to sell it within the next 12 to 24 months
- The benefits of consolidation, including the expanded resources for large-loss projects, catastrophe restoration work and recruiting new employees
- What’s ahead for ATI Restoration, including continued expansion east of the Mississippi River
Check out this episode of Ask the Expert to learn more. You can watch the video here or listen to the audio version of our conversation here. You can also find our show on Apple Podcasts and Spotify. Just search for Restoration & Remediation Ask the Expert, then hit Follow.