Insurcomm, Inc., a rapidly growing provider of commercial and residential restoration services, announced a majority growth investment from Summit Partners. Summit’s investment will support Insurcomm’s national expansion strategy as the company continues its mission to deliver the highest quality service to commercial clients, residential customers, and municipalities navigating property loss events, the company said.
Insurcomm offers a comprehensive range of property-damage restoration services, including fire and water damage cleanup, mold remediation, asbestos and biohazard removal, as well as reconstruction services to customers nationally.
“When disaster strikes, our mission is to serve our clients with a deep sense of professionalism and dignity, ensuring timely and end-to-end solutions,” said Doug Indelicato, CEO of Insurcomm. “Partnering with Summit will help Insurcomm enter a new and expanded era of growth, allowing us to scale our impact and drive value for property owners and insurers. Together, we aim to set new standards in the restoration market, with a focus on partnering with like-minded operators who share our mission, and further cementing Insurcomm’s position as an industry leader."
Summit’s investment comes at a time of strategic inflection for Insurcomm, as the company seeks to scale its team, expand its operations, and acquire other providers who share a culture of excellence, the company said. Insurcomm has experienced accelerated growth over the past five years through the expansion of its geographic coverage and securing General Services Administration (GSA) Multiple Award Schedule (MAS) status for emergency response for all federal government agencies. Insurcomm has extensive experience across thousands of loss events, ranging from day-to-day emergency responses to major catastrophic events. The Insurcomm team has built deep and trusted relationships with property owners and insurers, fueling strong growth in market share, the company said.
“Against the backdrop of a highly fragmented restoration market with secular tailwinds, Insurcomm has developed an impressive delivery model that has helped the company to grow rapidly and profitably,” said Matt Hamilton, a managing director at Summit Partners. Hamilton has joined the Insurcomm’s Board of Directors. “We are thrilled to join forces with Doug and the entire Insurcomm team and to support the company’s expansion plan.”
“We believe Insurcomm’s strong organic growth is a testament to the culture of excellence that the company has created and their commitment to serving all stakeholders in property loss events,” added Andy Lee, vice president at Summit Partners who has also joined the Company’s Board of Directors.
Harris Williams served as financial advisor to Summit Partners, and Latham & Watkins served as legal advisor.
