TOP 500 2020: New Names Among 10 Largest Firms
authors Patrick O'Toole | August 5, 2020
Qualified Remodeler’s 42nd annual list of the 500 largest home improvement and remodeling firms, The TOP 500, offers new names as well as a slight reshuffling among its top 10. The full list of 500 firms debuts at 7 a.m. CDT on Aug. 14 at QualifiedRemodeler.com, but here’s a sneak peek.
Perennial insurance-restoration giant, BELFOR Holdings hung onto the
No. 1 spot overall with $1.67 billion in gross remodeling revenue on 152,000 jobs. Pennsylvania-based giant Power Home Remodeling edged out Window World for the No. 2 position on the list. Power posted $793.5 million in remodeling revenue against 60,512 windows, roofing and siding jobs via its 21 wholly-owned branch locations around the U.S. Window World, is the No. 1 national company. ‘Nationals’ are firms with widespread dealer networks. The company posted $789.5 million on 183,177 primarily window jobs across its 221 independently owned dealers.
LeafFilter Gutter Protection, led by CEO Jeff Beck, traded positions with ResiPro, as they locked in the No. 3 and No. 4 positions, respectively. LeafFilter added $240 million in revenue across its wholly owned locations to post $581 million on 162,536 jobs. ResiPro, a whole-house renovation, maintenance and property preservation firm that serves institutional owners of single family homes, including those of its parent company ResiCap, posted revenue of $379.4 million last year on 6,625 jobs. The No. 5 company, long-time powerhouse, Champion Window, posted installed volume of $290 million (no manufacturing included) on 23,101 jobs from its 54 retail offices. Champion is up one spot from No. 6 in 2019.
FHIA, West Shore Home: Acquisitions, Organic Growth
Mel Feinberg’s burgeoning Fort Lauderdale-based home improvement firm FHIA Holdings LLC, grew to $278 million to capture the No. 6 position on the list, up from $140 million the year prior. Its growth came primarily through the acquisition of Dallas-based giant Statewide Remodeling in 2019. In early 2020, FHIA also acquired, Madison, Wis.-based, Mad City Windows and Baths. That acquisition was not completed in time to be counted for this year’s ranking. The company operates in Florida as FHIA Remodeling and retains the Statewide and Mad City names in Texas and Wisconsin.
Perhaps the freshest face in the top 10 is West Shore Home. It used a combination of new greenfield locations, key acquisitions and organic growth to claim the No. 7 position on the list. Company owner, BJ Werzyn, founded the firm in 2007 and in recent years, he has overseen hyperbolic growth, posting $220 million in remodeling revenue on 23,206 window and bath projects last year. Werzyn, who says he is aiming to build the first national remodeling brand wholly owned by one entity, is projecting $366 million in sales for 2020. How is West Shore tracking for the year after, 2021? A jaw-dropping $700 million, says Werzyn. Stay tuned.
Rounding out the top 10 are:
- The No. 2 National remodeler, Re-Bath LLC. This year, the franchise organization posted $220.2 million in revenue on 20,043 jobs across 97 independent locations. That is up from $205 million a year earlier.
- Ranked No. 8 is another new face, basement specialty firm Groundworks based in Virginia Beach, Va. with $174.5 million in revenue on 21,389 jobs.
- At No. 9 is Window Nation, which posted revenues of $162.5 million, up $36 million from a year earlier. For all of their gargantuan growth efforts, they fell two spots, down from No. 7 in 2019.
- The No. 10 ranked company on the 2020 TOP 500 operates in the full-service contracting segment of the remodeling industry—remodeling apartments, condos and co-ops for an elite clientele in New York City. Josh Weiner’s powerhouse firm SilverLining Inc. posted $143.6 million in residential remodeling revenue on 45 jobs in 2019.
How does this year’s top 10, (plus the top two national firms) compare with the same group in 2019?
- 2020 top 10 (plus 2 Nationals): $5.71 billion on 688,883 jobs.
- 2019 top 10 (plus 2 Nationals): $5.19 billion on 603,882 jobs.
- Up more than $500 million in sales compared to 2019
- Up 85,000 jobs compared to 2019
It’s also worth noting that the total revenue generated by the entire 2020 TOP 500, (not counting revenue generated by seven National firms), is slightly less than double that of the top 10, coming in at $10.65 billion. Yes, remodeling is truly a highly fragmented industry.
Read full coverage of the 42nd QR TOP 500 beginning at 7 a.m. CDT on Aug. 14 at QualifiedRemodeler.com. QR