Interstate Restoration expands with Statewide Disaster acquisition
HOUSTON — Interstate Restoration LLC of Houston recently acquired Interstate Restoration of Southfield, MI, in an effort to gain a foothold in the Midwest, according to an article from the Crain’s Detroit Business website.
The merger, which was completed in November 2014, creates a $150 million-a-year business, to be co-branded this year as Statewide Disaster and Interstate Restoration in Michigan, said Adam Becker, the Statewide founder who’ll now serve as Interstate’s Midwest President, in the article. The region’s hub will be in Detroit.
With this acquisition, Interstate gains access to Statewide’s local and regional relationships with Fortune 500 companies based in Michigan, as well as its residential customers, which Interstate will continue to maintain, despite its focus on commercial restoration.
“[This merger] allows us the opportunity to continue the growth we had last year throughout the U.S.,” Becker asserted. “The more dots on the map for us, the easier it is to [serve] those markets.”
This merger, which was closed for an undisclosed amount of money, marks Interstates second major acquisition — it acquired InStar Services Group LP from Black Eagle Partners LLC in 2012.
Interstate plans to hire close to 50 employees with its planned growth in the area over the next two years.
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