Private equity firm Riverlake Partners has made a majority equity investment in Guerdon Enterprises.
Headquartered in Boise, Idaho, Guerdon is a producer of large multi-unit modular buildings.
The modular construction segment is projected to increase during the next few years and continue gaining acceptance in an estimated USD3 billion addressable market.
Guerdon has more than 300 employees and annual revenues over USD80 million.
Guerdon’s portfolio includes large apartment, condominium, hotel, office and workforce housing buildings in varying geographies, climates and working conditions.
“We’ve enjoyed strong growth during the past several years and we look forward to working with a new equity partner offering expanded opportunities to support our future growth plans and strategies,” says Laurence “Lad” Dawson, managing member, founder and CEO of Guerdon. “Our customers can expect to receive the same level of commitment to unparalleled quality, on-time delivery and superior technical performance as they always have.”
Riverlake was joined in its investment by Main Street Capital Corporation of Houston.
Guerdon was advised in the transaction by Chicago-based investment bank Building Industry Advisors.
Dawson will continue as CEO and remain a substantial shareholder as he and other key managers continue to lead the company through its next phase of growth and development. Leaders from both Riverlake and Main Street Capital will also hold seats on the company’s board of directors.
