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11/10/2006
Stonehenge and Harbert Mezzanine invest $4.1 million in COCAT, LLC
Denver, CO - Stonehenge Capital Company, LLC and Harbert Mezzanine Partners II, LP announce a $4.1 million mezzanine and junior debt investment in COCAT, LLC. Founded in 1996, COCAT is one of the largest regional general contractors delivering comprehensive disaster restoration services. Known and trusted over the years by property owners, insurance companies and public safety agencies, COCAT has successfully restored thousands of residential, commercial, and industrial properties damaged by fire, flood, mold and other natural or man-made disasters.
The financing supported a recapitalization of the company by CEO Trevor Martin and Progress Equity Partners, Ltd., a private equity investment firm focused on acquiring and growing middle-market service-based businesses.
"This is an exciting time for COCAT, our customers, employees and stakeholders," said Trevor Martin, COCAT Chief Executive Officer. "COCAT has been expanding rapidly over the past five years and our partnership with Progress, Stonehenge and Harbert provides an exceptional opportunity to continue that momentum." The partnership supports COCAT's growth plans and provides significant capital for both geographic and product line expansion.
"COCAT represents an opportunity to participate in the attractive operating characteristics of the disaster restoration market with a regionally dominate company with an established operating history and a strong reputation for quality and responsive service," said Steve Sangalis, Principal with Progress Equity Partners.
“COCAT plays a critical role in our local economy by allowing businesses to reestablish operations and permitting individuals to safely return to their homes,” said Andy Aye, Director of Stonehenge Capital. “We are pleased to support the company’s growth efforts.”
COCAT (www.COCAT.com) is the leading provider of disaster restoration, reconstruction and renovation services in the Rocky Mountain region. The company's certified specialists deliver superior quality, service and workmanship for recovery from fire, flood and mold as well as other natural and man-made disasters. As a preferred provider for residential, commercial and industrial properties, COCAT offers a full range of services, 24 hours a day, 7 days a week, 365 days a year.
Progress Equity Partners, Ltd., (www.ProgressEquity.com) with offices in Dallas and Denver, is a private equity investment firm that invests in well-managed, entrepreneurial, middle market service-based businesses. The principals of Progress Equity have been partnering with entrepreneurs to take their businesses to the next level since 1993 and are particularly successful in providing entrepreneurs the opportunity to gain liquidity while positioning their business for future growth.
Stonehenge Capital Company, LLC (www.stonehengecapital.com) is a nationwide specialty finance firm with expertise in mezzanine and private equity, tax credit finance and structured finance transactions. Stonehenge manages approximately $500 million in private equity funds through its offices in Colorado, Alabama, Florida, Louisiana, Missouri, New York, Ohio, Texas and Wisconsin.
Harbert Management Corporation (www.harbert.net) is an alternative investment management firm serving foundations and endowments, funds of funds, pension funds, financial institutions, insurance companies, family offices and high net worth individuals across multiple asset classes, including domestic and European real estate, venture capital, mezzanine debt, independent power, private equity and public securities.
The financing supported a recapitalization of the company by CEO Trevor Martin and Progress Equity Partners, Ltd., a private equity investment firm focused on acquiring and growing middle-market service-based businesses.
"This is an exciting time for COCAT, our customers, employees and stakeholders," said Trevor Martin, COCAT Chief Executive Officer. "COCAT has been expanding rapidly over the past five years and our partnership with Progress, Stonehenge and Harbert provides an exceptional opportunity to continue that momentum." The partnership supports COCAT's growth plans and provides significant capital for both geographic and product line expansion.
"COCAT represents an opportunity to participate in the attractive operating characteristics of the disaster restoration market with a regionally dominate company with an established operating history and a strong reputation for quality and responsive service," said Steve Sangalis, Principal with Progress Equity Partners.
“COCAT plays a critical role in our local economy by allowing businesses to reestablish operations and permitting individuals to safely return to their homes,” said Andy Aye, Director of Stonehenge Capital. “We are pleased to support the company’s growth efforts.”
COCAT (www.COCAT.com) is the leading provider of disaster restoration, reconstruction and renovation services in the Rocky Mountain region. The company's certified specialists deliver superior quality, service and workmanship for recovery from fire, flood and mold as well as other natural and man-made disasters. As a preferred provider for residential, commercial and industrial properties, COCAT offers a full range of services, 24 hours a day, 7 days a week, 365 days a year.
Progress Equity Partners, Ltd., (www.ProgressEquity.com) with offices in Dallas and Denver, is a private equity investment firm that invests in well-managed, entrepreneurial, middle market service-based businesses. The principals of Progress Equity have been partnering with entrepreneurs to take their businesses to the next level since 1993 and are particularly successful in providing entrepreneurs the opportunity to gain liquidity while positioning their business for future growth.
Stonehenge Capital Company, LLC (www.stonehengecapital.com) is a nationwide specialty finance firm with expertise in mezzanine and private equity, tax credit finance and structured finance transactions. Stonehenge manages approximately $500 million in private equity funds through its offices in Colorado, Alabama, Florida, Louisiana, Missouri, New York, Ohio, Texas and Wisconsin.
Harbert Management Corporation (www.harbert.net) is an alternative investment management firm serving foundations and endowments, funds of funds, pension funds, financial institutions, insurance companies, family offices and high net worth individuals across multiple asset classes, including domestic and European real estate, venture capital, mezzanine debt, independent power, private equity and public securities.
| Associated Company |
| COCAT, LLC |
| Associated Office |
| Denver |
