Special Projects For 57

FAST40 2011

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Roofer turns shingles and sunshine into revenue W ith just a 3% increase in revenue between 2008 and 2010, Baker Roofi ng Co. hasn't grown as quickly as many of the Fast 40 companies. But the fact that a construction business grew at all during the recession is an achievement. The Raleigh company even added a few employ- ees during that period, increasing from 594 to 615. The national unemployment rate in the construction industry was 20% in May 2010, according to The Associated General Contractors of America. Baker Roofi ng isn't just a neighborhood roofer. It's the country's third-largest roofi ng and sheet-metal contractor, with locations in 10 cities across the Southeast. It's building the roof of the $600 million Music City Center in Nashville and installed a massive rooftop solar project at the new Boeing 787 Dream- liner factory in North Charleston, S.C. It restored the brick and masonry of BB&T Field at Wake Forest University in 2010 and has roofed numerous buildings at nearly every military base in the state. Executive Vice President John Matthews says the 96-year-old company diversifi ed during the recession and now provides renewable-energy installation Baker roofers install solar panels at the U.S. Environmen- tal Protection Agency's Research Triangle Park laboratory in 2011. services. It also focused more on its brick and concrete restoration and residential-roofi ng businesses and expanded into new geographic markets, in some cases through acquisitions of local companies. Board Chairman Prentiss Baker was one of just 15 employees when he joined the family business in 1966. The only time it's ever not experienced growth was a downsize in the late '80s and early '90s and a temporary post-9/11 slowdown. "We would be down in sales if not for moving into those new areas and those new segments, like renewable energy and military work," Baker says. "We've always done military work, but we had a lot of new construction work on all the major bases, with fi ve or six projects going on at any one time." The company projects continued growth for its renewable-energy business, which exploded from $225,000 in revenue in its fi rst six months in 2008 to $4.5 million in 2009 and $13 million in 2010. The company's residential and restoration services are expected to have similar growth, in part because it's increasing brand awareness of those divisions, Marketing Director Todd Kavanaugh says. Baker Roofi ng Co. 517 Mercury St., Raleigh, N.C. 27603 6 NORTH CAROLINA MID-MARKET FAST 40

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