Key Takeaways
- • Ridgeline Roofing & Restoration, backed by private equity firm Bertram Capital, acquired Freedom Roofing & Construction in Champaign, Illinois, marking its seventh add-on acquisition since the platform's 2020 founding.
- • Freedom Roofing, established in 2014 by Kurt Kiser, provides residential and commercial roofing installation, repair, siding, gutters, and storm damage restoration services; Kiser will remain with the business post-close.
- • The transaction expands Ridgeline's geographic footprint into Illinois, complementing existing operations across 10 states (Alabama, Georgia, Tennessee, North Carolina, South Carolina, Mississippi, Florida, Minnesota, Nebraska, and Illinois).
- • Bertram Capital deployed Ridgeline as the first platform company for its Bertram Ignite strategy in January 2024, which targets lower-middle-market companies with EBITDA between $3 million and $7.5 million.
- • Zach Bassi, vice president at Bertram Capital, led the transaction; Chris Baldus continues as CEO of the combined platform.
Summary
Ridgeline Roofing & Restoration, a Bertram Capital portfolio company, has completed its seventh add-on acquisition since inception, acquiring Freedom Roofing & Construction, a regional roofing and restoration provider based in Champaign, Illinois. Freedom Roofing, founded in 2014 by Kurt Kiser, specializes in residential and commercial roofing installation and repair, alongside complementary services including siding, gutter installation, and storm damage restoration. Kiser, the founder, will continue leading Freedom Roofing following the transaction close, ensuring operational continuity and founder retention—a common strategy in lower-middle-market roll-ups.
The acquisition represents continued execution of Bertram Capital's buy-and-build strategy for Ridgeline, which now operates across 11 states with a comprehensive service offering in residential and commercial re-roofing, full replacements, repairs, and storm damage restoration. The platform's geographic expansion into Illinois diversifies its revenue base and strengthens its Midwest presence, particularly given Minnesota and Nebraska operations already established. Ridgeline was launched as the flagship platform for Bertram Capital's Bertram Ignite strategy, a focused approach targeting lower-middle-market businesses with EBITDA ranging from $3 million to $7.5 million—a segment characterized by fragmented service provider markets and attractive add-on acquisition opportunities.
Zach Bassi, vice president at Bertram Capital, led the Freedom Roofing transaction. Chris Baldus remains in his role as CEO, overseeing platform integration and strategic direction. The roofing and restoration sector has attracted sustained private capital interest given recurring revenue potential from both planned maintenance and catastrophic weather events, along with consolidation opportunities in a traditionally fragmented industry. The frequency of Ridgeline's add-on activity—seven acquisitions since 2020—suggests strong deal sourcing capabilities and operational capacity to integrate acquisitions while maintaining founder relationships and local management.
The acquisition represents continued execution of Bertram Capital's buy-and-build strategy for Ridgeline, which now operates across 11 states with a comprehensive service offering in residential and commercial re-roofing, full replacements, repairs, and storm damage restoration. The platform's geographic expansion into Illinois diversifies its revenue base and strengthens its Midwest presence, particularly given Minnesota and Nebraska operations already established. Ridgeline was launched as the flagship platform for Bertram Capital's Bertram Ignite strategy, a focused approach targeting lower-middle-market businesses with EBITDA ranging from $3 million to $7.5 million—a segment characterized by fragmented service provider markets and attractive add-on acquisition opportunities.
Zach Bassi, vice president at Bertram Capital, led the Freedom Roofing transaction. Chris Baldus remains in his role as CEO, overseeing platform integration and strategic direction. The roofing and restoration sector has attracted sustained private capital interest given recurring revenue potential from both planned maintenance and catastrophic weather events, along with consolidation opportunities in a traditionally fragmented industry. The frequency of Ridgeline's add-on activity—seven acquisitions since 2020—suggests strong deal sourcing capabilities and operational capacity to integrate acquisitions while maintaining founder relationships and local management.
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