Why Renovo Failed
Why Renovo Failed
Pro Remodeler has a solid article by industry legend Mark Richardson on why so many well-respected home improvement companies abruptly shut down.
When Renovo Home Partners abruptly shut down this fall, it left thousands of employees and customers stranded — and the entire home improvement industry asking what went wrong. The company had rolled up some of the nation’s strongest regional remodelers under a single banner, promising to build a billion-dollar platform. Instead, it became a cautionary tale about what happens when Wall Street money collides with Main Street business models.
Mark Richardson unpacks the collapse
Drawing on decades of experience advising many of the firms involved, Richardson argues that Renovo’s failure wasn’t about incompetence or bad luck, but about a fundamental mismatch. Remodeling companies evolve through craft, culture, and patience; private equity runs on quarterly returns and leverage. When those two timelines met, the math, the morale, and the mission all fell apart.