Greenwood Industries Acquires 1947-Founded Diamond Roofing of Syracuse

What happened

Greenwood Industries, a building envelope contractor based in Worcester, Mass., announced on June 30, 2026 that it has acquired Diamond Roofing, a Central New York roofing company founded in 1947. Diamond Roofing will keep its current brand and leadership, and Greenwood said the integration will proceed gradually to keep continuity for customers, employees and partners. Financial terms were not disclosed.

The seller

Diamond Roofing is based in Syracuse and serves customers across New York State. Its core is commercial roofing, from single-ply and modified bitumen systems to slate, tile, metal and green roofs, alongside sheet metal fabrication, 24-hour maintenance and repair, and asbestos abatement, which it performs as a New York State licensed roofing asbestos abatement contractor.

Its project list is institutional. It includes Syracuse University's Hall of Languages and Machinery Hall, the Cathedral of the Immaculate Conception in Syracuse, the Onondaga County War Memorial, and the Upstate University Hospital Cancer Center, along with schools and correctional facilities.

Don DeStefano owns the company. "Joining Greenwood positions Diamond for its next chapter while preserving the strengths that have defined our business for decades," he said in the announcement. Under Greenwood, its offering extends past core roofing into waterproofing, masonry and wider building envelope work.

The buyer

Dunes Point Capital, a family office and private investment firm, acquired Greenwood Industries in May 2025 and provided the controlling equity. Greenwood had 11 locations across Massachusetts, Connecticut, Rhode Island, New Hampshire and New York at the time; it now operates 15 across the Northeast.

Greenwood has operated for more than 30 years and provides commercial roofing, architectural metal fabrication, waterproofing, masonry, maintenance and historic restoration. Its family of brands includes Silktown Roofing, TWC Phoenix Waterproofing and Masonry, and Brunca Waterproofing. Roofing Contractor named Greenwood its 2023 Commercial Contractor of the Year and ranks it among the top 10 commercial roofing contractors in the country. Its other New York locations are in Hudson Falls and New Windsor.

"Diamond Roofing has built an outstanding business and an exceptional reputation in Central New York," said David Klein, Greenwood's chief executive.

Greenwood's other 1947 roofer

Two months before Diamond, on April 30, 2026, Greenwood announced the acquisition of Gilbert & Becker Co., a Massachusetts specialty roofer that was also founded in 1947 and is known for slate, copper and historic roofing systems. Roofing Contractor reported that Gilbert & Becker would keep its name, with its leadership, teams and day-to-day operations remaining in place. Klein said at the time that Gilbert & Becker "represents the type of company that fits naturally within our organization."

What this means for roofing owners

Set side by side, Greenwood's April and June deals went to companies of the same vintage, each with a specialty attached to roofing: historic slate and copper work in one case, licensed asbestos abatement and a university, cathedral and county project list in the other. In both, the seller's name and leadership stayed. For the owner of a long-established commercial roofer, that moves the harder questions in a sale conversation away from whether the name survives and toward what a gradual integration changes first. Greenwood named what it brings to Diamond (safety programs, technical expertise and operational resources), and those are the terms an owner in Diamond's position can pin down before signing. Owners weighing a sale can read our guide on selling a roofing business to private equity.

OffDeal is an advisory firm that helps lower-middle-market business owners sell with confidence. Reach out to learn more about our expertise with roofing businesses in New York.

Own a roofing business with $5M–$100M in revenue? We’re glad to give you an honest read on what it’s worth and who would buy it — no pitch, no pressure. Get a free valuation.

Source: Greenwood Industries - https://greenwoodindustries.com/greenwood-industries-acquires-diamond-roofing-expanding-its-family-of-trusted-regional-brands-in-new-york/