Bridger Capital Partners has acquired Old Mill Brick, a manufacturer and distributor of thin brick systems that are used in both residential and commercial building applications.
Old Mill’s flagship product is BrickWeb, a series of thin bricks pre-mounted on fiberglass webbed sheeting, that is sold online and through large retail home improvement stores across North America. The company was founded in 2007 and is headquartered south of Salt Lake City in Bluffdale, UT (www.oldmillbrick.com).
Garrick Hunsaker, the founder and owner of Old Mill Brick, will continue to lead the company as CEO and he will have an equity interest in the company under Bridger Capital ownership. “Partnering with Bridger Capital is major step forward in helping us fuel our growth and expansion in the building products market,” said Mr. Hunsaker.
“Garrick has created a great company that started many years ago with an idea that led to the creation of market-disruptive products. The company is growing rapidly into a national contender in the building products market,” said Greg Peterson, Managing Partner of Bridger Capital Partners.
Bridger Capital Partners (BCP) invests in founder-led and/or family-owned companies with no prior institutional capital investments. Typical targets will have at least $2 million of EBITDA and an enterprise value of more than $10 million. The firm is industry agnostic but has experience investing in the IT services and software, business and financial services, digital media, transportation and logistics, and manufacturing sectors. BCP invests across the US and Canada but prefers companies located in the western US. The firm is headquartered in Salt Lake City (www.bridgercapitalpartners.com).
Assurance Mezzanine Fund (www.assurancemezz.com) provided subordinated debt and made an equity co-investment. “We are excited about partnering with Bridger Capital Partners and Garrick to help take Old Mill Brick to the next level. This company has a very bright future ahead,” said David Ellis, Director for Assurance Mezzanine Fund.
Senior debt for this transaction was provided by San Jose-based Bridge Bank (www.bridgebank.com).
© 2018 Private Equity Professional | March 16, 2018