Hunter Street Completes Financing to Support Acquisition of Building Supplies Manufacturer
MINNEAPOLIS, Dec. 20, 2022 /PRNewswire/ -- Hunter Street, a Minneapolis-based alternative investment management firm, has partnered with Five Crowns Credit Partners (“Five Crowns”) to provide $15.5 million in financing to support Metar Capital’s acquisition of Ready Made Builders Supply (“Ready Made”), a manufacturer of trusses, doors, and cabinets in the Salt Lake City market.
Based in Kearns, Utah, Ready Made produces high quality building products for single-family, multi-family, and commercial customers, and primarily serves general contractors working within 200 miles of Salt Lake City. Over the last decade, the greater Salt Lake City region saw an increase of homebuilding fueled by factors such as a younger population, robust job growth rate, and an increased demand for outdoor recreation space.
Marco Ludwig, Managing Partner at Metar Capital, will serve as CEO and continue the company’s track record of growth in the industry. Marco was previously the North American CEO for Schluter Systems, a wholesale building materials company. Ready Made’s products are built of high-quality lumber and designed with state-of-the-art software.
“The company is strategically positioned to grow over the duration of our investment, with regional forces overcoming any national housing market headwinds. We have a favorable long-term view of the Salt Lake City market and are pleased to continue our successful partnership with Five Crowns,” said Neal Johnson, Partner, CEO & CIO at Hunter Street.
“The company has grown rapidly, has strong long-term prospects, and benefits from being in a housing market with favorable demographics. Whether built for sale, or increasingly built for rent, the Salt Lake City region is a unique submarket where multiple societal tailwinds for homebuilding gives us ongoing confidence,” said Andrew Platt, Partner at Hunter Street.
“We are proud to continue our partnership with the Hunter Street team with whom we share an investment philosophy in sourcing, screening, and collaborating on attractive investments. With this financing, we are excited to support Marco’s vision for growth and are fully aligned with his plans for the company,” said Chris Taylor at Five Crowns.
About Hunter Street
Hunter Street is a Minneapolis-based alternative investment management firm that provides creative capital solutions to operating partner teams and small to mid-sized companies for special situations, asset-based financings, and secondary purchases. The firm is focused on special opportunities across corporate finance, real estate, and specialty finance. Learn more about Hunter Street at www.hunterst.com
About Five Crowns Credit Partners
Five Crowns, a Newport Beach-based investment firm, was founded in 2003 to make value-driven equity investments in lower middle market businesses with an opportunistic approach. Driven by compelling market opportunities, the firm expanded into credit in 2016 to provide flexible and creative financing solutions for acquisitions, shareholder buyouts, dividend recaps, and various growth initiatives.
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SOURCE Hunter Street Partners