ACACIA Exterior Building Group announced on October 29 that it has launched as a group of regional roofing and exterior building businesses and has invested in Bel-Mac Roofing and Seashore Construction, two Northwest Florida contractors. The two Florida businesses are joining forces under the Bel-Mac name. ACACIA is led by CEO Cagen Williams, and its investment partner is RCap Equity, an affiliate of Renovus Capital Partners. Financial terms were not disclosed.
The asset.
Bel-Mac Roofing was founded in 1995 and Seashore Construction in 2005. Combined under the Bel-Mac name, the business offers roofing, waterproofing and coatings, concrete repair and restoration, exterior cladding and siding, structural and framing work, and related exterior construction services across Northwest Florida and the Gulf Coast. The release names its customers as property owners and managers, condominium associations, developers, and general contractors.
The pairing is a roofer plus an exterior restoration contractor. For a coastal condominium or commercial building, the roof, the waterproofing, the concrete, and the cladding are often part of the same envelope problem. Putting them under one company lets the owner of that building call one contractor instead of coordinating several.
The platform.
ACACIA is new as a name, but not as an investment. RCap Equity led a majority recapitalization of Northeast Contracting Corp. (NECC), a commercial roofer then headquartered in Lorton, Virginia, in September 2024, with Monroe Capital providing the senior credit facility and an equity co-investment. NECC serves education, government, multifamily, industrial, and data center customers in Virginia, Washington, D.C., and Maryland.
In July 2025 NECC named Cagen Williams CEO. According to RCap, Williams previously ran Florida-based EPC Panhandle Power Solutions, which he guided through a sale in 2019. A month later NECC bought Ducks Roofing, a Portsmouth, Virginia commercial roofer locally operated since 1976 that serves hospitals, schools, and government buildings, and made it NECC's Hampton Roads branch.
With the launch, NECC and Ducks become ACACIA's "foundational investments," and Bel-Mac becomes its second regional brand. Both NECC and Bel-Mac keep their names and local leaders. Renovus says it manages more than $2 billion across its funds and strategies.
A holding company over regional brands, not one roofing name.
The structural point here is how the platform is organized. Instead of rolling Bel-Mac into NECC, RCap created a holding company above both and kept each regional operator's brand, leadership, and customer relationships. That is a different model from platforms that rebrand every acquisition into one national name.
For commercial roofing, that choice tracks how the work is won. Building owners, facility managers, and general contractors in a given metro buy on the local team's reputation and track record, and a regional brand that has been in the market for 30 years carries that with it. The holding company then supplies capital, shared resources, and back-office support.
The other point is scope. ACACIA describes itself as an exterior building group, not a roofing company. NECC already sells roof evaluations, maintenance, restoration, and building envelope services, and Bel-Mac adds waterproofing, concrete restoration, and cladding. A wider envelope offering gives a platform more ways to stay in front of the same building owner over time, through inspections, maintenance, and repair as well as larger replacement and construction projects.
The commercial roofing M&A environment.
Private capital has been building commercial roofing and envelope platforms all year. Banner Capital launched Roof Restoration Group with Oklahoma's Exterior Solutions Group, and Fortis Black combined waterproofing, restoration, and cladding in the Mountain States. On the other side of the ledger, O2 Investment Partners agreed to hand Stronghouse Solutions to its creditors, a reminder that a larger platform is not the same as a stronger one. As we've written, buyers underwrite service and construction as different business models: construction work can produce more EBITDA per job but usually earns a lower multiple than recurring service. Envelope platforms like this one usually carry some of both.
What it means.
If you own a commercial roofing or exterior restoration company, ACACIA's launch adds one more sponsor-backed buyer that says it wants to keep your name and your leadership in place. Buyers like this will look at how your revenue splits between maintenance and repair, reroofing, and new construction; how concentrated you are with a few general contractors or property managers; whether your estimators and superintendents will stay; and whether your services line up with the rest of the envelope. A Gulf Coast or Mid-Atlantic contractor that fills a gap next to NECC or Bel-Mac is the obvious fit, but a holding-company model like this one is built to add new regions as well.
Own a roofing or exteriors company?
Schryver & Co. advises trades owners with roughly $5 million to $100 million of revenue and $1 million to $5 million or more of EBITDA, depending on the vertical. If a platform has reached out, or you just want a clear read on who would compete for your business, we are glad to talk.
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