DENVER – SLATE Partners (SLATE) announced that its Principals advised California TrusFrame, LLC (CTF), a portfolio company of Excelsior Capital Partners (Excelsior), on its sale to TriWest Capital Partners, a Calgary-based private equity firm.
Headquartered in Perris, California, CTF is a leading designer and manufacturer of prefabricated structural building components including roof trusses, floor trusses and wall panels. These components are utilized in a variety of residential, multi-family & commercial building applications. Leveraging its four strategically-located manufacturing facilities in California, the Company serves a diverse base of nationally-recognized builders and framing contractors throughout the state.
Jason Munoz, co-founder and Managing Partner of SLATE, commented, “As the market leader, CTF is uniquely positioned to meet strong demand being driven by the current housing shortage in California. The Company’s structural building components are the ideal solution, reducing building time and labor needs while increasing structural quality. Excelsior’s significant investments in the Company’s infrastructure and management team have CTF well positioned for continued success.”
Steve Stroder, CEO of CTF, commented, “The team at SLATE was exceptional to work with. Their knowledge in investment banking and experience in building products proved to be invaluable to our team as we dealt with the process of selling CTF. They are a truly outstanding group of professionals that I would recommend to anyone in the building space that may be looking to buy or sell a company.”
Steve Emerson, principal of Excelsior, remarked, “SLATE Partners did a fantastic job guiding us and the CTF team through the sale process. Their knowledge of the building products space is unparalleled in investment banking and was vital to our transaction. It was a difficult decision to sell CTF now as we know Steve Stroder and his team will continue to do great things, including capitalizing on the skilled labor shortage. This shortage will continue to push more of the construction supply chain into a controlled factory setting, driving new growth for CTF. Although in the end the time was right for us to exit, we at Excelsior continue to look for other ways to capitalize on this labor development in other markets.”
CTF received legal counsel from Bradley Arant Boult Cummings LLP and accounting support from Riveron Consulting LLC and Anton Collins Mitchell LLP.
