ST PAUL, Minn. — The Minnesota Attorney General's Office has issued a consumer alert following the sudden and unexpected closing of a high-profile home remodeling company that left an army of customers with unfinished work, and out thousands of dollars.

AG Keith Ellison says the abrupt Nov. 3 closing of Minnesota Rusco was triggered by the collapse of Renovo Home Partners, a Texas-based company backed by a private equity firm. Ellison says Renovo bought Minnesota Rusco from its local owners back in 2022 as part of what is known as a "roll-up" strategy, where firms buy up local businesses in the same industry and finance the acquisitions with heavy debt, making them vulnerable and highly leveraged.

When Renovo went out of business on late October, so did 16 home remodeling businesses it o

See Full Page