True North M&A Advises Aspen Exteriors' Sale to Elite Construction Solutions

True North Mergers & Acquisitions Facilitates Deal Between Aspen Exteriors & Elite Construction Solutions

MINNEAPOLIS, MN, June 14, 2024 – True North Mergers & Acquisitions ("TNMA") served as the exclusive financial advisor to Aspen Exteriors, Inc. ("Aspen") in connection with a strategic sale to Elite Construction Solutions, Inc. ("Elite Construction Solutions"). Specific terms of the transaction, which closed on June 14, 2024, were not disclosed.

Aspen Exteriors is one of the country's largest and most reputable storm damage restoration companies, with over 60 employees serving 27 states. The Company specializes in storm damage restoration, roofing, siding, gutters, and exterior contracting. Aspen was founded in 2002 by Joseph Jelinek, Matt LaBine, and Andy LaBine in Ramsey, Minnesota.

True North M&A Advisor Mike Wheelock and his expert team of M&A Associate Roan Morgan, Senior Analyst Nate Gajewski, and Analyst Clay Geary led the deal. Their extensive experience and strategic approach ensured a successful transaction on behalf of Aspen Exteriors, Inc.

"Aspen owner and CEO Joe Jelinek has done an excellent job of positioning the company to significantly scale and capitalize on the growing need for managed exterior repair and restoration services in the Midwest," said Wheelock. "The roofing industry is experiencing significant consolidation and is attracting substantial interest from private equity firms and strategic buyers. The rapid demand for growth by these types of acquirers has generated a premium on transaction multiples and total enterprise value," according to Wheelock.

Elite Construction Solutions, Inc. (www.roofsbyecs.com), led by President Mike Braun, is a platform HomeServices company focused on exterior restoration throughout the United States. “I couldn’t be more excited to bring the Aspen team into the Elite Family of Brands. The Aspen acquisition expands our rapidly growing footprint, further expands our sales and operations capabilities, and most importantly adds another amazing group of people to the already amazing Elite Team." said Braun.

Based in St Louis, Missouri Elite Construction Solutions, with decades of expertise in exterior reconstruction, roofing, and window restoration, strives to provide unparalleled service to its clients while building an organization where team members are proud to go to work each day.

True North Mergers & Acquisitions ("TNMA") is a national sell-side and buy-side advisory firm headquartered in Minneapolis that provides solutions to lower middle market companies with revenues of $10-$150 million. TNMA's senior professionals have experience across a broad range of industries, helping business owners understand their Company's market value and how to maximize their life's work when they are ready to exit through our Compass Exit Opinion™ and proceeds analysis. North Mergers & Acquisitions' roots are with Minnesota-based Sunbelt Business Advisors, and a staff of over 70 professionals is nationally recognized as the #1 business advisory firm, having completed over $3 billion in transactions and serving more business owners than any other advisory firm.