‘They understand…what we’re doing and why we do it’, says owner James Peel.
By Noah Lechtenstein
Original Air Date: July 3, 2026
Host: Private equity has quickly become the norm among roofing companies, as big money is consolidating a market that has always been dominated by local, family-owned businesses. An estimated one-third of Florida’s roofing companies, and going, are now owned by private equity investment funds. But a small business owner in Sarasota has refused to be rolled up and wants the future ownership of his company to be in the hands of the employees. Noah Lechtenstein reports.
Noah Lechtenstein: After years of helping other roofing companies grow, James Peel founded Longboat Key Roofing in 2017 with two silent partners, and it quickly took off after that. They fix and build roofs in Sarasota and Manatee County.
Photo courtesy of Longboat Key Roofing
Those silent partners are now gone, and the business has been in the hands of Peel.
But now Peel is beginning to plan for succession. According to a press release from the company, Peel received many opportunities to sell but opted to go with an unorthodox method: employee ownership.
He is adamant in passing along the company rather than outright selling, and he’s preparing for a lesser role by planning to transfer some of the ownership to his employees.
James Peel (right) and employees. Photo courtesy of Longboat Key Roofing
James Peel: I’ll always be there for them in the future as some sort of consultant. I’ll always have some sort of share in the company, but eventually, if all goes to plan, the majority would be given to the guys who are helping build it to carry on. I will have my percentage because I built it, but it will be a minority, and I’ll be onto my own thing, which is to consult.
NL: This is an unpopular decision among other small business owners. An article published by Gallop News in 2025 shows that just 5% of owners plan to transfer ownership to someone else. 8% actually say they would rather close their business.
Peel says he wants operations to be consistent in the future, and he likes the way things are now. In passing on the company, rather than selling it, he can make sure of that.
James Peel. Photo courtesy of Longboat Key Roofing
JP: Instead of selling the company to someone who’s just going to chop it into parts or run it into the ground or sell it to some family member who didn’t have to work for anything—these guys are out there busting their ass and kicking ass all the time, so they deserve to have the chance to be the future of the company and continue the operation and ethos the way we’ve always run it.
NL: According to the same article, almost half of small business owners said they have no plan or are unsure of their plan before retirement, while just 33% plan to change ownership before retirement.
Photo courtesy of Longboat Key Roofing
Peel remains confident in his business heading into the future, and in planning for the future, he will look to transfer part of his ownership onto his employees. Lucas Lewis and Ivan Pineda, two field supervisors for the company, have emerged as the right leaders in Peel’s eyes.
Peel and his employees have yet to agree to a detailed plan for succession as of now, but he is confident that as time goes on, the company will remain in safe hands. He’ll most likely look for them to become majority shareholders of the company when he’s ready to step down and take on a lesser role.
Photo courtesy of Longboat Key Roofing
It isn’t just Lewis and Pineda who have plans to become a part owner. Peel mentioned he was open to other employees also taking on ownership roles.
His plan is to pass it down to the people who helped him build it.
JP: They understand my concept of how I want the business to run and what we’re doing and why we do it as of right now. In the future, they’d like to have the opportunity to continue that on when I’m ready to step down. I can’t do it forever, right?
NL: Reporting for WSLR News, Noah Lechtenstein.
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