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Mike Feazel

👤 Speaker
466 total appearances

Appearances Over Time

Podcast Appearances

Escaping the Drift with John Gafford
He Sold His Roofing Business for $60M (Here’s What He Built Next) - Mike Feazel

His name's Alex Gerhardt is his name.

Escaping the Drift with John Gafford
He Sold His Roofing Business for $60M (Here’s What He Built Next) - Mike Feazel

I don't know Alex.

Escaping the Drift with John Gafford
He Sold His Roofing Business for $60M (Here’s What He Built Next) - Mike Feazel

Wow, that's interesting.

Escaping the Drift with John Gafford
He Sold His Roofing Business for $60M (Here’s What He Built Next) - Mike Feazel

So he's probably on the insurance side.

Escaping the Drift with John Gafford
He Sold His Roofing Business for $60M (Here’s What He Built Next) - Mike Feazel

But yeah, private equity is all over the place in the roofing side of things now.

Escaping the Drift with John Gafford
He Sold His Roofing Business for $60M (Here’s What He Built Next) - Mike Feazel

So that's where private equity is.

Escaping the Drift with John Gafford
He Sold His Roofing Business for $60M (Here’s What He Built Next) - Mike Feazel

It's cool again.

Escaping the Drift with John Gafford
He Sold His Roofing Business for $60M (Here’s What He Built Next) - Mike Feazel

We were looking at, somebody came knocking on the door, but my brother and I were getting close.

Escaping the Drift with John Gafford
He Sold His Roofing Business for $60M (Here’s What He Built Next) - Mike Feazel

We'd been in it for 25 years.

Escaping the Drift with John Gafford
He Sold His Roofing Business for $60M (Here’s What He Built Next) - Mike Feazel

There was a lot of changes in the roofing industry, of course, over 25 years, and just decided we wanted to go down this path.

Escaping the Drift with John Gafford
He Sold His Roofing Business for $60M (Here’s What He Built Next) - Mike Feazel

So we felt if we completely got out of that side, the roof replacement side of the business, we would have a better opportunity here, which was figuring out how do we get more lives out of asphalt shingles.

Escaping the Drift with John Gafford
He Sold His Roofing Business for $60M (Here’s What He Built Next) - Mike Feazel

So we exited back in 13, partnered with the Soybean Association, Ohio State University, Battelle Labs, which is the largest research and development lab in the world based out of Columbus, Ohio, and went to work.

Escaping the Drift with John Gafford
He Sold His Roofing Business for $60M (Here’s What He Built Next) - Mike Feazel

So I found the old patent that had sat on the shelf for 17 years.

Escaping the Drift with John Gafford
He Sold His Roofing Business for $60M (Here’s What He Built Next) - Mike Feazel

A couple of companies tried to take it to market, didn't have any success with it.

Escaping the Drift with John Gafford
He Sold His Roofing Business for $60M (Here’s What He Built Next) - Mike Feazel

But I think it took a roofer to understand the challenges in the industry and how to bring it to market.

Escaping the Drift with John Gafford
He Sold His Roofing Business for $60M (Here’s What He Built Next) - Mike Feazel

And that's what we did.

Escaping the Drift with John Gafford
He Sold His Roofing Business for $60M (Here’s What He Built Next) - Mike Feazel

And then we created a generation two product through Battelle Labs.

Escaping the Drift with John Gafford
He Sold His Roofing Business for $60M (Here’s What He Built Next) - Mike Feazel

you know, increase the product and then had a lot of testing done with Ohio State University.

Escaping the Drift with John Gafford
He Sold His Roofing Business for $60M (Here’s What He Built Next) - Mike Feazel

We had it tested through the same labs that test roofing shingles before they can get an ASTM stamp right before it can be sold into the market.

Escaping the Drift with John Gafford
He Sold His Roofing Business for $60M (Here’s What He Built Next) - Mike Feazel

So we had all of that testing done and then went to market back in 2017 is when we founded RoofMax, really went hard into the market in late 18.