Davis, CA - April 2, 2008 -
The Central Valley Fund, a private investment fund focused on middle market Central Valley companies, today announced a mezzanine investment in Bonney Plumbing, Inc. ("Bonney" or the "Company").
The capital was used to assist Skylight Capital with an investment of growth capital to aid in the future expansion of the business. Bonney will remain under the management and direction of the existing management team led by Candace and Mark Bonney. Founded in 1989, Bonney is a leading provider of same-day plumbing services products throughout the Sacramento metropolitan area. Such products and services include sewer and drain cleaning, replacing plumbing fixtures, and water and gasline repairs.
Jose Blanco, a partner with the Central Valley Fund, stated, "It has been a pleasure to work with Skylight Capital and the Bonneys. The prospects for Bonney Plumbing under the continued leadership of Candace and Mark are all positive as busy homeowners look for dependable and quality service providers to maintain the most important asset they own - their homes." According to Collin Hathaway of Skylight Capital, "We look at a lot of opportunities to invest our capital and believe that the Bonneys are among the top business operators we have seen. We are proud to be their partners going forward."
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About The Central Valley Fund
The Central Valley Fund was established by the principals of Gael Partners, LLC to finance later stage growth through mezzanine and preferred equity investments. The fund has offices in Davis, CA and Fresno, CA; it is focused on making investments in California's Central Valley and throughout the state. For more information, please visit www.centralvalleyfund.com.
Based in San Francisco, California, Skylight Capital was formed to invest in or acquire companies in the Western U.S. with $1.0 to $4.0 million EBITDA. The firm's capital may be used to provide full or partial liquidity to entrepreneurs, family members, estates, passive investors, or corporate owners. Skylight will also consider minority investments for growth. For more information, please visit www.skylight-capital.com.
About Bonney Plumbing
Bonney Plumbing was founded in 1989 by Candace & Mark Bonney to provide same-day plumbing and drain services throughout the Greater Sacramento area. The company has built a reputation of outstanding customer service and professionalism to customers over the years by providing upfront job cost estimates, professional plumbers and technicians, and dependable plumbing products. For more information, please visit www.bonneyplumbing.com.
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Davis
1590 Drew Avenue, Suite 110
Davis, CA 95618
(530) 757-7004 |
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Fresno
5010 Woodrow Avenue
WC142 Lyles Center
Fresno, CA 93740
(559) 294-6668 |
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