TSL Express Daily News
The Secured Lender
SFNet's The 81st Annual Convention Issue
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Top 5 Apps for Organizing
Mar 7, 2019If you’re like most of us, we try to stay organized in business and life, but it gets increasingly complicated…
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The Importance of Stretching
Mar 7, 2019Every personal trainer and athletic coach I have ever worked with has stressed the importance of stretching. When working out…
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SFNet's 40 Under 40 Award Winners Panel Recap
Mar 6, 2019Moderator: Samantha Alexander, regional underwriting manager, Wells Fargo Capital Finance’s Corporate Asset Based Lending group and 2016 CFA 40 Under…
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SFNet's Inaugural YoPro Leadership Summit
Mar 6, 2019The Secured Finance Network brought together the next generation of commercial finance leaders for a full day of learning and…
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It’s a Marathon, Not a Sprint
Aug 22, 2018I was recently invited to participate in an executive panel to answer questions from a credit training class comprised of...
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It’s Not Too Late – Five Member Benefits to Cash In On Now
Aug 1, 2018As we hit the half way mark on calendar year 2018, it is a good time to take stock and…
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It’s Time To Break Up With Your Phone
Jul 18, 2018Do I have your attention? Let’s be honest here: do you have the attention span to read this article? Compared…
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Lien Management – What You Need to Know
Jun 6, 2018UCC filing is the cornerstone of all loans and every lien portfolio...
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Potential Impacts of Blockchain on Commercial Lending
Jan 15, 2018By Raja Sengupta, Executive Vice President and General Manager, Wolters Kluwer’s Lien Solutions When it comes to the rising importance…
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How to be a Good Leader
Dec 5, 2017I know what you’re thinking…another article about how to be a good leader? The short answer is yes…but this time,…
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Fintech and Due Diligence – Disruptors and Established Firms Evolve
Oct 30, 2017The fintech sector has gone through a number of manifestations in the past two decades.
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A Commercial Banker’s Tickler Transition Plan
Oct 18, 2017Just do a keyword search for “bank tickler,” and you’ll quickly realize that banks are still heavily reliant on manual…
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Understanding and Developing Your Personal Brand: Four Steps to a More Intentional Career Progression
Sep 5, 2017It is imperative for individuals to have a general idea about their future career aspirations, just as companies should have clearly defined strategies.
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Selecting a Technology Vendor: 3 Questions to Ask
Jul 5, 2017As with anything else at your bank, selecting a technology vendor can be a challenging decision. Users from across different…
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Why Back-Office Lending Automation Enhances Customer Satisfaction
Apr 25, 2017Every bank strives to keep its customers happy. Of course, some institutions are better at achieving this goal than…
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The Lost Art of the Loan Purchase
Mar 2, 2017Purchasing a loan directly from a bank whether at par or discount is a not-often-used technique that is easily…
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Audit Prep: Why a Paperless Approach Makes Sense
Feb 15, 2017How much time does your financial institution spend preparing for audits? We recently surveyed 187 community banks, and the results…
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Back Office Support Services: Helping you approve more clients
Feb 7, 2017How many times have you come across a potential client who’s financials are either not up to date, not accurate,…
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“All Assets” is the Key When Drafting UCC-1 Financing Statement Collateral Descriptions
Jan 30, 2017Even when prepared by outside or in-house counsel, many lenders pay close attention to draft UCC financing statements before they…
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Paper Loan Files: Does Your Bank Know the True Cost?
Jan 12, 2017Sure, there’s a tangible cost associated with deploying an electronic loan imaging system. Software, support, and scanning hardware are just…
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December 21, 2022
Source: PR Newswire
MINNEAPOLIS, Dec. 20, 2022 /PRNewswire/ -- Hunter Street, a Minneapolis-based alternative investment management firm, has partnered with Five Crowns Credit Partners ("Five Crowns") to provide $15.5 million in financing to support Metar Capital's acquisition of Ready Made Builders Supply ("Ready Made"), a manufacturer of trusses, doors, and cabinets in the Salt Lake City market.
Based in Kearns, Utah, Ready Made produces high quality building products for single-family, multi-family, and commercial customers, and primarily serves general contractors working within 200 miles of Salt Lake City. Over the last decade, the greater Salt Lake City region saw an increase of homebuilding fueled by factors such as a younger population, robust job growth rate, and an increased demand for outdoor recreation space.
Marco Ludwig, Managing Partner at Metar Capital, will serve as CEO and continue the company's track record of growth in the industry. Marco was previously the North American CEO for Schluter Systems, a wholesale building materials company. Ready Made's products are built of high-quality lumber and designed with state-of-the-art software.
"The company is strategically positioned to grow over the duration of our investment, with regional forces overcoming any national housing market headwinds. We have a favorable long-term view of the Salt Lake City market and are pleased to continue our successful partnership with Five Crowns," said Neal Johnson, Partner, CEO & CIO at Hunter Street.
"The company has grown rapidly, has strong long-term prospects, and benefits from being in a housing market with favorable demographics. Whether built for sale, or increasingly built for rent, the Salt Lake City region is a unique submarket where multiple societal tailwinds for homebuilding gives us ongoing confidence," said Andrew Platt, Partner at Hunter Street.
"We are proud to continue our partnership with the Hunter Street team with whom we share an investment philosophy in sourcing, screening, and collaborating on attractive investments. With this financing, we are excited to support Marco's vision for growth and are fully aligned with his plans for the company," said Chris Taylor at Five Crowns.
About Hunter Street
Hunter Street is a Minneapolis-based alternative investment management firm that provides creative capital solutions to operating partner teams and small to mid-sized companies for special situations, asset-based financings, and secondary purchases. The firm is focused on special opportunities across corporate finance, real estate, and specialty finance. Learn more about Hunter Street at www.hunterst.com
About Five Crowns Credit Partners
Five Crowns, a Newport Beach-based investment firm, was founded in 2003 to make value-driven equity investments in lower middle market businesses with an opportunistic approach. Driven by compelling market opportunities, the firm expanded into credit in 2016 to provide flexible and creative financing solutions for acquisitions, shareholder buyouts, dividend recaps, and various growth initiatives.
Contact for Hunter Street
