CARSON, Calif., Feb. 9, 2018 /PRNewswire/ -- GrowthPoint Structures ("GrowthPoint" or "The Company"), an innovative manufacturer of container-based modular buildings, has retained Equity Partners HG as its exclusive investment banker to explore a sale of or investment in the Company. GrowthPoint manufactures and sells modular structures that are fabricated around sea shipping containers and used for a variety of applications.
According to CEO, Jim Pickell, "We have come a long way in R&D and commercialization since 2009, and with construction labor shortages and the increasing need for affordable and rapid construction solutions, we want to make sure GrowthPoint has the capital it needs to seize opportunities and stay at the front of the modular building transformation that is taking place."
GrowthPoint Structures' modules are energy efficient, structurally superior, cost less, and are completed in a shorter timeframe compared to conventional site-built construction methods. The Company's pipeline of opportunities includes approximately $67mm of projects, which includes schools and affordable housing projects. Strong examples of their work can be seen at the Oak Park High School and the award-winning Potter's Lane Housing Project.
Fred Cross, Managing Partner at Equity Partners HG, says that "This is an excellent opportunity to acquire or invest in a company at the forefront of the modular construction industry. In only its 3rd year of manufacturing, GrowthPoint is projected to generate $20-$30mm in revenue for 2018. The Company sees substantial demand to support the utilization of its 6 production lines in its 140,000 sq. ft. manufacturing facility with an estimated capacity of over $100mm per year. Nationally, modular home shipments increased 8% in 2017, with a 13% bump in the West. This appears to be the beginning of a huge shift in the construction industry."
Equity Partners HG provides investment banking services and has completed more than 500 engagements throughout the US since 1988.
CONTACT: Fred Cross
SOURCE Equity Partners HG