HENDERSON, Nev., Jan. 16, 2024 /PRNewswire/ — Columbia Pacific’s Business enterprise Finance technique (“CPBF”), a Seattle-based mostly immediate financial institution to privately held and sponsor-backed companies, is happy to announce that it has offered a $21 million senior secured phrase bank loan to help the acquisition of Sunrise Mechanical and Dawn Support (“Sunrise”). The heating, air flow, and air conditioning (“HVAC”) organization was obtained final month by impartial sponsor Ballard & Brown.
Headquartered in Henderson, NV, Dawn is a single of the major residential HVAC set up and upkeep company suppliers in the area. About the company’s 30 decades of operation, Sunrise has grown to more than 150 workforce whose dedication to delivering top quality and reliability at a aggressive cost has created Sunrise a chosen husband or wife for builders in and about Las Vegas Valley. Property entrepreneurs have also occur to depend on Sunrise Service for higher-high-quality and competitively priced restore, routine maintenance, and substitute products and services.
“Thanks to CBPF’s in-depth knowing of the unbiased sponsor product, we had been capable to finish the Dawn acquisition quickly and effectively before yr-stop,” said Matt Ballard, CEO and Co-Founder of Ballard & Brown. “As a Las Vegas indigenous with substantial HVAC field working experience I am dedicated to making on the 30-yr legacy of excellence at Dawn and retaining the degree of good quality and trustworthiness our prospects be expecting. We observed a funding companion in CPBF who shares our entrepreneurial spirit and permits shareholders to keep the monetary upside of productive execution.”
“Dawn is one of the top HVAC companies in the Las Vegas Valley and will continue on to benefit from long-phrase populace growth and substantial residential housing undersupply in the location,” said Lawrence Litchfield, Director of Small business Progress for CPBF. “Operationally centered independent sponsors turn to CPBF for flexible money and benefit-extra execution. This transaction demonstrates our ability to aid 1st-time company consumers in will need of special, well timed, and considerably less dilutive financing solutions.”
Las Vegas-primarily based GVC Advisory Expert services Ltd served as the unique monetary advisor for Ballard & Brown. CPBF was represented by Stoel Rives LLP, Portland, OR and Ballard & Brown were being represented by Company Securities Legal LLP, Irvine, CA.
ABOUT Sunrise
Dawn delivers HVAC program set up for solitary and multi-relatives household new construction developers throughout Las Vegas Valley. The Henderson, NV business also offers maintenance and repair service services for residential customers. Over 30 years of operation, Sunrise has turn out to be synonymous with high-quality, reliability, and remarkable customer assistance. For extra data, visit www.sunrisehvac.com and www.sunriseserviceinc.com.
ABOUT COLUMBIA PACIFIC Business FINANCE
Columbia Pacific’s Company Finance strategy (CPBF) provides $8 to $35 million personal debt and structured fairness financing remedies for center-industry businesses nationwide. CPBF partners with business owners, independent sponsors, and financial sponsors to guidance acquisitions, organic development initiatives, and recapitalizations with adaptable, much less dilutive funding possibilities. Our professional workforce focuses on the aspects that travel results, finds methods, and seeks to execute swiftly. Its father or mother organization, Columbia Pacific Advisors, manages option property together with community and private equities, and non-public credits. For additional information, take a look at www.columbiapacific.com.
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