Oct 2023 | Texas

11th Hour Laborer Acquired By Traction Capital Partners

We are pleased to announce the sale of its client 11th Hour Laborer to Northwest Restoration Operating and R1 Dallas Operating, a portfolio company of Traction Capital Partners. The transaction closed October 24, 2023.

11th Hour Laborer, (dba Restoration 1 of Southlake) is a leading water, fire, storm restoration and construction company providing services throughout Texas and the greater Gulf Coast region. The company’s management and support team have decades of experience, which allows the company to complete numerous projects across the diverse region each year.

Northwest Restoration Operating (dba Restoration 1 Spokane), led by CEO Scott Whitaker, is the largest operator of Restoration 1 territories in the U.S. They are headquartered in Spokane, Washington. Northwest Restoration Operating is a portfolio company of Traction Capital Partners, LLC.

Traction Capital Partners (Traction) is a small, focused private investment firm located in Seattle, Washington. Traction seeks to acquire family-owned, strategically positioned businesses in the Western U.S. with $2 million to $10 million of EBITDA. Unlike the traditional private equity model, Traction looks to provide permanent capital and be long-term owners.

Generational Group Executive Managing Director of M&A – Central Region, Michael Goss, and his team, led by Senior Managing Director, Cory Strickland, with the support of Vice President, M&A, Vanessa Christian, closed the deal. Executive Managing Director and Group Leader Randy Kamin established the initial relationship with Restoration 1 of Southlake.

“I have had the great pleasure of getting to facilitate a transaction between two dominating Restoration 1 territories in Texas and Washington State. There is no doubt that after this merger, acquired by Traction Capital, the united company will flourish. I wish them the best of success in the future,” said Strickland.

If you would like to explore other transactions our associates have supported in this industry, visit our dedicated Business & Financial Services page.

If you would like to explore other transactions our associates have supported in this industry, visit our dedicated Engineering, Contracting & Construction page.

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