Excelsior Capital Partners has provided a USD20 million mezzanine facility to California TrusFrame (CTF) in conjunction with a USD30 million senior credit facility furnished by senior lenders.
Based in Riverside, California with plants that serve clients in California, Nevada and Arizona, CTF is a manufacturer of roof trusses, floor trusses and wall components for commercial, residential and multi-family construction.
Excelsior’s investment in the company supplies the necessary capital for the company to purchase equipment, fund working capital growth, pursue new business ventures and expand into new markets.
“CEO John Hanna and his team have done an excellent job leading the company through one of the most challenging housing construction cycles in history,” says Ravi Bhagavatula, managing partner of Excelsior Capital Partners. “In a market where competitors were closing their doors, CTF positioned itself for future growth by investing in new processes and developing cutting-edge technologies that would set them apart from others in the industry.”
CTF’s products are developed by an experienced professional staff of registered engineers and architects, enabling complete in-house design capabilities and fast turnaround of fully engineered truss packages. With the recent addition of CTF’s Smart Components, CTF now offers pre-fabricated wall segments that resist lateral force, reduce build times, and provide architects and engineers a substantial increase in design flexibility over traditional wall segments. To accelerate the adoption of Smart Components, a portion of Excelsior’s investment will be used to provide training and job site assistance to framing companies using Smart Components and other CTF products.
“We are very excited about the prospects of partnering with Excelsior,” says Hanna. “It will allow us to expand our operations and take advantage of the recovery that the housing market is currently experiencing.”
