Columbia Pacific Business Finance (CPBF) has extended a million-dollar loan to independent sponsor Ballard & Brown. This financial assistance was instrumental in the acquisition of Sunrise Mechanical and Sunrise Service, a prominent heating, ventilation, and air conditioning (HVAC) company based in Henderson, Nevada. CPBF is recognized as a direct lender to privately-held and sponsor-backed companies, such as Ballard & Brown.
Lawrence Litchfield, Director of Business Development for CPBF, commented on the transaction in a news release dated Jan. 16. He said, "Sunrise is one of the leading HVAC providers in the Las Vegas Valley and will continue to benefit from long-term population growth and significant residential housing undersupply in the region. Operationally focused independent sponsors turn to CPBF for flexible capital and value-added execution. This transaction demonstrates our ability to support first-time business buyers in need of unique, timely, and less dilutive financing solutions."
Sunrise Mechanical was established by Stan Gordon and Alice Ross-Gordon in 1993, according to information available on the company’s website. By the early 2000s, it had installed thousands of HVAC systems in tract homes across the Las Vegas area. In 1996, the founding couple expanded their business portfolio with Sunrise Service which provides HVAC service and repair.
Matt Ballard, CEO and Co-Founder of Ballard & Brown expressed his gratitude towards CPBF's role in facilitating their acquisition process. He stated: "Thanks to CBPF's in-depth understanding of the independent sponsor model, we were able to complete the Sunrise acquisition swiftly and efficiently before year-end. As a Las Vegas native with extensive HVAC industry experience I am committed to building on the 30-year legacy of excellence at Sunrise and maintaining the level of quality and reliability our customers expect. We found a financing partner in CPBF who shares our entrepreneurial spirit and allows shareholders to retain the financial upside of successful execution."
Operating within a wide service area that includes Boulder City, Henderson, North Las Vegas, Enterprise, Summerlin South, Sunrise Manor, Whitney, Winchester, Spring Valley, and Paradise; Sunrise Mechanical caters to both commercial and residential customers. According to their services page, the company offers a variety of HVAC services ranging from installation in new residential homes or custom homes to repair service available 24 hours a day, 7 days a week. Additionally, the company also provides plumbing services.