On Monday, May 31st, InStar Services Group announced the relocation of its headquarters from Texas to Troy, Michigan. Crain’s Detroit Business was the first to cover the story, with an exclusive interview with CEO Mark Davis. Click the image below to read the article in its entirety.
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Horizon founder, Derrick Hall, began his career in the insurance restoration industry at age 17 working as a water mitigation technician for a ServiceMaster franchise. He then went on to work for Mark W. Davis at Rocky Mountain Catastrophe and eventually BELFOR USA. Derrick was quickly promoted to run the EMS and Contents division of BELFOR in Oregon. Upon exiting BELFOR, he formed Horizon and grew the company into a strong, full service restoration company providing customized service to clients in the Rocky Mountain Region. “Derrick was a shining star at age 19, moving up the ranks quickly while we were expanding BELFOR out West. His entrepreneurship and passion for the industry brings a wealth of talent and operational expertise to the InStar team,” said Mark W. Davis, President & CEO of InStar. “As InStar seeks to expand its geography in the West, the team at Horizon will play an integral role in our growth. Having worked with Derrick for many years, I know how fortunate InStar is to have him and his team as part of the InStar family.”
With this acquisition, InStar is now comprised of 18 response centers in the U.S. and grows as a leading national provider of disaster response, insurance restoration and reconstruction services. In addition to disaster response, services include response to regularly occurring incidents, such as fires, floods, water-line breaks and storm damage in order to return damaged property to its pre-loss condition. InStar also provides structural maintenance, renovation and modernization services to large multi-family properties.
The acquisition of Horizon marks InStar’s third expansion in the last seven months. InStar’s majority owners, private equity firm BlackEagle Partners, LLC (BlackEagle), supported the company’s entrance into Birmingham, Michigan as well as the acquisition of B. Poole Restoration in New York and now Horizon. “Partnering with successful entrepreneurs like Derrick Hall is important as InStar continues its expansion efforts into one of the nation’s leading disaster restoration firms,” said Jason Runco, Partner of BlackEagle.
About InStar
InStar is a leading national provider of disaster response, insurance restoration and reconstruction services operating from 18 branches. In addition to disaster response, services include response to fires, floods, water-line breaks and storm damage in order to return damaged property to its pre-loss condition, the company also provides structural maintenance, renovation and modernization services to large multi-family properties. InStar markets its services to a broad range of customers, including retail, hospitality, manufacturing, healthcare, insurance companies and multi-family residential property owners/managers.
About BlackEagle
BlackEagle Partners, LLC, with offices in New York, New York and Bloomfield Hills, Michigan, is an operations focused, middle market private equity firm that seeks to acquire non-core subsidiaries and companies in out-of-favor industries. BlackEagle seeks businesses with an enterprise value below $200 million.
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BPR founder, Bernard Poole, began his career in the building supply business reading blue prints and selling construction materials to contractors. In 1994, Bernard entered the disaster recovery industry in New York working primarily with residential projects. Within a few years he had become National Accounts Manager of BELFOR USA, the country’s largest disaster response and insurance restoration company. Bernard left BELFOR to form BPR and grew the company into a strong, large loss recovery business providing customized service to clients nationwide. “Bernard brings a wealth of knowledge and operational expertise to the InStar team,” said Mark W. Davis, President & CEO of InStar. “As InStar seeks to expand its geography and service offering, the team at BPR will play an integral role in our growth. Having worked with Bernard for years, I know how fortunate InStar is to have him and his team as part of the InStar family.”
With this acquisition, InStar is now comprised of 17 response centers in the U.S. and grows as a leading national provider of disaster response, insurance restoration and reconstruction services. In addition to disaster response, services include response to regularly occurring incidents, such as fires, floods, water-line breaks and storm damage in order to return damaged property to its pre-loss condition. InStar also provides structural maintenance, renovation and modernization services to large multi-family properties.
The acquisition of BPR marks InStar’s second expansion in the last six months. InStar’s majority owners, private equity firm BlackEagle Partners, LLC (“BlackEagle”), supported the company’s entrance into Birmingham, Michigan as well as the acquisition of BPR. “We are committed to provide InStar with the necessary resources to finance its growth as it expands into one of the nation’s leading disaster restoration firms,” said Jason Runco, Partner of BlackEagle.
About InStar
InStar is a leading national provider of disaster response, insurance restoration and reconstruction services operating from 17 branches. In addition to disaster response, services include response to fires, floods, water-line breaks and storm damage in order to return damaged property to its pre-loss condition, the company also provides structural maintenance, renovation and modernization services to large multi-family properties. InStar markets its services to a broad range of customers, including retail, hospitality, manufacturing, healthcare, insurance companies and multi-family residential property owners/managers.
About BlackEagle
BlackEagle Partners, LLC, with offices in New York, New York and Bloomfield Hills, Michigan, is an operations-focused, middle market private equity firm that seeks to acquire non-core subsidiaries and companies in out-of-favor industries. BlackEagle seeks businesses with an enterprise value below $200 million. www.blackeaglepartners.com
There are measures you can take to help protect yourself and your people from the spread of H1N1. In response to this potentially deadly virus, InStar has response-ready teams that can be deployed anywhere, anytime, to sanitize your facilities and their contents.
Highly trafficked surfaces such as phones, computers and the like are natural breeding grounds for infectious “bugs.” InStar is ready to apply a specific mixture that will battle mutating bacterium and viruses, to help control the spread of the swine flu as well as other strains that are emerging in schools and offices.
As a world-class expert in disaster restoration and reconstruction services, InStar is best known for getting businesses back in action after flood, fires and earthquakes. However, the organization is also well versed in dealing with viral and microbial issues and air quality. Should you require our services, we’re prepared to assist you in this difficult flu season.
]]>Mark Davis, president and CEO of InStar is familiar with this subject. In his own words, “The reality is, a successful exit is no different than most other projects you have started and completed: You must have a plan and define a goal to work toward.”
Various options exist for a successful exit from an insurance restoration company. Mark explores these exits in detail in Restoration and Remediation (R&R), providing valuable information for those in the industry.
Read the original editorial from Restoration and Remediation »
]]>“In the acquisition of non-core subsidiaries such as InStar a great deal of effort is exerted prior to the transaction by a number of parties; however, as an operations focused firm our work begins after the closing,” said Jason Runco, Partner of BlackEagle. “We identified InStar as a business with significant unrealized potential and by partnering with the management team we have worked to realign and grow the company to better serve its customers across the U.S.”
The Turnaround Atlas Awards were presented by Global M&A Network at a ceremony in Chicago on June 23. Shanta Kumari, chief executive officer of Global M&A Network said, “Today, the demand for top talent gathered at the Turnaround Atlas Awards gala is vital for preserving industries, jobs and rebuilding of the American economy and competitiveness. Winners and finalists can take pride for completing impressive array of turnarounds requiring creative collaboration and the very best from the industry.” The Turnaround Atlas Awards is attended by leaders in the turnaround profession to recognize outstanding performance for executing transactions, implementing turnaround strategies and financial work-outs.
About InStar
Based in Fort Worth, Texas, InStar is a leading national provider of disaster response, insurance restoration and reconstruction services operating from 14 branches throughout the East Coast, the Southeast and Texas. In addition to disaster response, services include response to fires, floods, water-line breaks and storm damage in order to return damaged property to its pre-loss condition. The company also provides structural maintenance, renovation and modernization services to large multi-family properties. InStar markets its services to a broad range of customers, including retail, hospitality, manufacturing, healthcare, insurance companies and multi-family residential property owners/managers.
About BlackEagle Partners
BlackEagle Partners, LLC, with offices in New York, New York and Bloomfield Hills, Michigan, is an operations focused, middle market private equity firm that seeks to acquire underperforming and distressed businesses, non-core subsidiaries and companies in out-of-favor industries. BlackEagle seeks businesses with revenues between $50 and $500 million.
By combining deep expertise, technical knowledge, enviromental compliance and vast resources with solid leadership and a culture of high standards, Mark is looking to build not the biggest − but the best − operation on the planet. He offers tremendous insight on the challenges both providers and customers are facing as we head into the future.
Find out his thoughts and plans by reading his latest interview in Claims »
]]>Prior to joining InStar, Mr. Davis was co-founder, President and CEO of BELFOR USA. When asked about his new position with InStar, Mr. Davis commented, "I am extremely excited to join the InStar organization and have the opportunity to work with the talented team they have in place. My plan is to grow the business and expand our coverage to be nationwide while continuing to deliver the highest quality service to InStar's customers."
Mr. Davis' vast industry expertise and entrepreneurial background fits well with InStar, a business focused on providing personalized service in the demanding disaster response and insurance reconstruction industry. Mr. Davis began his career in the insurance restoration business in 1996 through the acquisition of Rocky Mountain Catastrophe in Denver, Colorado where he grew the business from just one to eight offices in three years. In 1999, he partnered with BELFOR International to lead their entrance into the North American market by creating BELFOR USA. Under Mr. Davis' leadership BELFOR USA became the largest disaster response company in the United States through a combination of targeted acquisitions and organic growth.
"Mark's decision to join InStar is a testament to the Company's position as one of the leaders in the industry," stated Jason Runco, Partner at BlackEagle Partners. "We are excited about InStar's future prospects and the addition of Mark further reinforces our commitment in the business."
About InStar
Based in Fort Worth, Texas, InStar is a leading national provider of disaster response, insurance restoration and reconstruction services operating from 14 branches throughout the East Coast, the Southeast and Texas. In addition to disaster response, services include response to fires, floods, water-line breaks and storm damage in order to return damaged property to its pre-loss condition. The Company also provides structural maintenance, renovation and modernization services to large multi-family properties. InStar markets its services to a broad range of customers, including retail, hospitality, manufacturing, healthcare, insurance companies and multi-family residential property owners/managers.
About BlackEagle
BlackEagle Partners, LLC, with offices in New York, New York and Bloomfield Hills, Michigan, is an operations focused, middle market private equity firm that seeks to acquire businesses, non-core subsidiaries and companies in various industries. BlackEagle seeks businesses with revenues between $50 and $500 million.
SOURCE: BlackEagle Partners, LLC
BlackEagle Partners, LLC Kimberly Lawrence, 313-647-5360 klawrence@blackeaglepartners.com
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