It’s a hot market for sunrooms these days, said Taylor Waddle.
Waddle and her husband, Tom, bought Wilmington firm Porch Conversion, a company that turns patios, porches and unused outdoor space into three- and four-season sunrooms, in January. The amount of the transaction was not disclosed.
The couple now owns the business and its nearly 15,000-square-foot facility at 6821 Market St., Wilmington.
The Waddles entered into the transaction, using an SBA 7(a) loan, for “a couple different reasons, one being we’ve both worked at Porch Conversion in the past so we're familiar with the company, and the second one is that the construction industry is booming,” Taylor Waddle said. “People are moving down here like crazy. People are spending a lot of money on their homes and updating things versus traveling and things like that.”
Tom Waddle added, “Also during the pandemic, they're stuck at home and they're sitting around wishing they had more space and wishing they had more usable space around their house, and we're providing a product to do that.
“A lot of people have a couple hundred square feet on a patio that’s pretty easy for us to enclose. Once that happens, it gives them a nice new room in their house that they can use and enjoy.”
After attending the University of North Carolina Wilmington, Taylor Waddle worked for Porch Conversion as the director of marketing and warranty from 2015 to 2017, according to a release from MidStreet Mergers & Acquisitions.
Tom Waddle, a Marine Corps veteran, also worked at Porch Conversion as a crew leader for over a year, the release stated. Both then worked for luxury homebuilders in the Wilmington area before the opportunity to buy Porch Conversion came along.
Porch Conversion was founded by Paul and Mary Maki in 1999. MidStreet Mergers & Acquisitions represented the sellers in the transaction, according to the MMA release.
All 25 employees stayed on after the sale was completed. Brian Walsh, who was a co-owner with the Makis before the sale, manages the installations and is staying on with the Waddles.
Scott Fitzgerald, who was also a co-owner, managed Porch Conversion prior to the sale and will be consulting with the Waddles.
The Makis are also helping with the transition. They plan to continue running their other business, Wilmington-based Porch Concepts, which helps homeowners equip their sunrooms and porches with patio furniture, according to the MMA release.
“We’re both really excited to be back with the company and we’re excited to grow the business and hope to continue with the legacy that the previous owners left us,” Tom Waddle said.
Staff Reports - Sep 25, 2023
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Staff Reports - Sep 26, 2023
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