Backs private equity sponsor Building Industry Partners in forming new fencing distribution & installation platform.
Los Angeles, CA, USA, May 19, 2016 — Breakwater Investment Management, LLC (“Breakwater”) is pleased to announce the recent closing of debt and equity financing in conjunction with Building Industry Partners’ purchase of Split Rail Fence & Supply Co. (“Split Rail”). Breakwater provided a second lien loan and minority equity co-investment through its direct lending vehicle, the Breakwater Credit Opportunities Fund, LP. Based in Los Angeles, Breakwater is a private investment firm that specializes in direct debt and equity investments in leading lower middle market companies.
Eric Beckman, Managing Partner at Breakwater commented: “BIP is a leading private equity investor in the building products sector, and we are thrilled to support them in this marquis transaction. We look forward to a long-term partnership with BIP and the Split Rail management team, and are excited to provide the company additional growth capital in the future.”
BIP Founder Matt Ogden stated, “This was our first time working with Breakwater, and they showed flexibility and creativity in this financing.” BIP Managing Partner Zach Coopersmith added, “The Breakwater team emphasized integrity and partnership as key tenets of their approach, and they delivered in both regards. We look forward to working with them again soon.”
About Breakwater Investment Management, LLC:
Breakwater Investment Management is a private investment firm that backs leading lower middle market growth companies. The firm aligns itself with committed management teams, owners, and sponsors, providing both financing and operating expertise to propel emerging businesses into their growth curve. Breakwater offers independent and institutional investors access to proprietary direct lending and growth equity opportunities through multiple vehicles.
To learn more about Breakwater, visit www.breakwaterfunds.com or call (424) 777-4000.
About Building Industry Partners, LLC:
Building Industry Partners is a private growth equity investment firm focused on the U.S. middle-market building products industry. The firm seeks to partner with proven building industry operators who either own or want to acquire a niche-focused building products manufacturer, distributor and/or provider of specialty services.
About Split Rail:
Split Rail was founded in 1974 and today is the leading fencing supply and installation business in the Front Range of Colorado. Split Rail has over 120 employees, with locations in Littleton and Dacono, and serves the markets’ local, regional and national homebuilders, homeowner associations, multi-family and commercial builders and developers, municipalities, fencing and remodeling contractors, and homeowners. Split Rail has a legacy of more than 40 years in the Colorado community and building industry, with an estimated 100,000+ Split Rail banners displayed on fences throughout the Front Range of Colorado.
For more information, please visit www.splitrailfenceco.com.
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Breakwater Investment Management, LLC
1999 Avenue of the Stars, Suite 3430
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