Surge Private Equity has invested in its 10th platform, Contractor Connect (CC), a B2B networking lead-generation platform within the home improvement and remodeling space.
The transaction closed with debt financing provided by Modern Bank and Assurance Mezzanine Fund with BakerHostetler acting as lead counsel.
Since its founding in 2014, CC has connected hundreds of thousands of homeowners to local contractors through its proprietary lead aggregator, screening, and live-transfer platform. The Company primarily specialises in various home remodelling verticals including bathrooms, windows, roofs, gutters, and sidings. Its recognised brand is highly regarded across the 25+ states it currently serves. Founder Joseph Powless will remain on as both an owner and partner of the Company.
“Covid has accelerated work from home hybrid and full-time trends. People are now spending more time at home, increasing the demand for home improvement,” says Surge Founding Partner Thomas Beauchamp. “This sustained macro demand for the industry paired with our plan to launch into new verticals such as HVAC and solar give us a clear pathway to sustaining the historical 25 per cent annual growth rate.”
