Pacific Growth Investors of California has completed a $29-million refinance with Conquest Firespray, a Warren-based manufacturer of fire-rated architectural and engineered duct systems, providing capital during a time of expansion for Conquest.
Pacific Growth initially invested in Conquest in April 2018. Conquest’s year-over-year revenues have exceeded company expectations.
“Conquest Firespray’s multi-faceted value proposition – code compliance, schedule acceleration, and cost avoidance – is entirely unique for commercial developers and contractors,” says Thomas Webster, co-founder and managing principal of PGI.
“That’s why we continue to support Conquest Firespray with this 2019 refinance. Flamebar’s solutions require less space, are easy to install, and bring projects into code compliance. Prospects for the company have never been brighter, frankly. They have continued to improve since our initial investment last year.”
Pacific Growth is focused on lower-middle-market businesses that are entrepreneurially owned.
“Pacific Growth Investors is experienced in the construction sector and recognizes how our Flamebar product is a game changer and unlike any competing product,” says James Miller, president of Conquest.