The deal will "strengthen" both businesses across the state.
Fort Myers-based Storm Smart, one of the largest manufacturers and installers of code-approved hurricane protection products in Florida, is growing in Palm Beach County, with the acquisition of Steadfast Inc. Financial terms of the deal weren’t disclosed.
Steadfast, according to a statement, is one of the leading hurricane screen and shutter suppliers in Palm Beach County. The transaction, in addition to providing inroads for Storm Smart on the east coast, strengthens the combined businesses’ presence across Florida, the release adds.
"This acquisition establishes a base from which to expand our service offerings throughout Southeast Florida and aligns with our commitment to protecting our communities through our products, people and services," Storm Smart CEO Scot Burris says. "Steadfast has built an excellent reputation and team that we are excited to have join the Storm Smart family and our One Team culture. We believe that engaged team members equate to engaged and delighted customers.”
“Our team is excited to strengthen the existing relationship with Storm Smart and for the growth potential this combination unlocks," adds Steadfast Vice President Rene Rayner in the release. “This partnership will enhance our ability to provide our customers with the highest levels of customer service.”
Storm Smart, according to a statement, has worked with more than 90,000 businesses and homeowners in Florida, the Caribbean and Mexico since it was founded in 1996, providing protection screens and other products and services. Maryland private equity firm Rotunda Capital Partners acquired a controlling interest in Storm Smart from founder Brian Rist in April 2021. The year prior, the company, with some 250 employees, posted a record $73 million in sales.