Jacksonville, Florida – November 29, 2022 – Shoreline Equity Partners, LLC (“Shoreline” or the “Firm”), a purpose-driven lower middle market private equity firm, has partnered with Core Roofing Systems, LLC (“Core Roofing” or the “Company”). Headquartered in Alpharetta, GA, Core Roofing is a leading provider of commercial re-roofing, maintenance, repair, inspection, and new roofing systems across the Southeast. The Company was founded by Dusty DeVore in 2002 and has since grown to more than 180 employees with a diverse set of customers across Georgia, Florida, Alabama, Arkansas, Mississippi, North Carolina, South Carolina, and Virginia. With a 20+ year history and respected brand and reputation, Core Roofing has successfully positioned itself as one of the leading commercial roofing service providers in the Southeast.

Moving forward, and in partnership with Shoreline, Core Roofing is looking to execute on an aggressive growth plan via organic initiatives and acquisitions. The new partnership with Shoreline provides the Company with both the acquisition experience and access to capital needed to partner with other leading commercial roofing businesses across the U.S. Dusty DeVore has maintained a significant ownership position in the business and will continue to lead the Company going forward.

Mike Hand, Managing Partner at Shoreline, said, “Dusty and the entire team have done an outstanding job of growing Core Roofing into a clear market leader over the last 20 years. The Company has built an exceptional brand and reputation as the go-to commercial roofing service provider for its customers and suppliers. It was clear from our first conversation with Dusty that Core Roofing would be a great fit for Shoreline due to the quality of the business and its people. We are grateful to partner with Dusty and the team to continue building a leading commercial roofing platform across the Southeast and nationally.”

Zach Mittelmark, Principal at Shoreline, said, “Upon meeting with Dusty and the broader Core Roofing team, we immediately knew we had found the right platform to partner with in the commercial roofing space. Core Roofing has built an incredibly unique and difficult-to-replicate maintenance and repair service offering which allows them to provide superior customer service throughout the full lifecycle of every commercial roof. We are beyond excited to help Core Roofing embark on an ambitious add-on acquisition story with the goal of becoming one of the largest commercial re-roofing companies in the US over the years to come.”

Dusty DeVore, Founder and CEO of Core Roofing, said, “We could not be more thrilled to partner with Shoreline. It was incredibly important that we found a partner that aligned with our values. Core Roofing was built on the strength of the relationships with our customers, suppliers, employees, and the community at large, and Shoreline shares our belief in the importance of consistently delivering for those key constituents. We are excited to accelerate our growth both organically and through acquisitions in partnership with the Shoreline team while ensuring that we maintain our high standards for work quality, customer service, and relationships for which Core Roofing is known.”¹

The transaction for Shoreline was led by Mike Hand, Managing Partner; Zach Mittelmark, Principal; Mike Mancini, Senior Associate; Pete Bouret, Senior Associate; and Mike Dolak, Associate. Harvey & Company served as an advisor to Shoreline, while South State Bank provided the financing for the transaction.

About Core Roofing

Founded in 2002 and headquartered in Alpharetta, GA, Core Roofing is a leading provider of commercial roofing solutions including re-roofing, maintenance, repair, inspection, and new roofing systems. With over 180 employees and offices in Georgia and Florida, Core serves a diversified customer base across the Southeast, including commercial and industrial property owners, property management companies, REITs, and municipalities, among others. For more information, please visit www.coreroofing.net.

About Shoreline

Shoreline is a lower middle market private equity firm focused on actively partnering with leading management teams. Shoreline follows a total stakeholder model, meaning success should be a “win-win” proposition for shareholders, employees, customers, vendors, and the communities within which the Firm’s companies operate. Shoreline professionals believe in honesty, incentive alignment, and creating bigger, better businesses without relying on financial engineering or cost cutting to generate returns. Investing out of the Firm’s inaugural $300 million fund, Shoreline seeks to lead equity investments of up to $100 million per transaction in support of buyouts, recapitalizations, and corporate divestitures. Targeted businesses have enterprise values ranging from $25 million to $250 million and EBITDA of $3 million to $25 million. The Firm strives to partner with management teams of businesses primarily within the specialized manufacturing, value-added distribution, and business and facility services sectors, among others. For more information, please visit www.shorelineequitypartners.com.

1-Mr. DeVore is an investor in one or more of Shoreline Equity Partners’ investment funds and serves as an executive at one of its portfolio companies.