Progress Equity Partners Completes Acquisition of Creative Tent International
Progress Equity Partners (“Progress Equity”) is pleased to announce its recent acquisition of Creative Tent International (“Creative Tent” or “CTI”). Founded in 2004 and based in Henderson, NV, Creative Tent is a leading designer and manufacturer of highly engineered tension fabric, clear-span structures deployable for a wide range of defense, aerospace, government, and commercial applications. The company works under their widely recognized brands Shasta Shelter® and Fastrack®. CTI integrates a range of accessories including doors, electrical, HVAC, flooring, and liners and offers full-service capabilities from installation, maintenance & repair, to take-downs, for a full turnkey solution to its customers.
Steve Sangalis, Partner at Progress Equity, commented “We are honored and excited to partner with CTI’s founders, Carol Fontius and Bob Stafford, and management, led by Chris Mclemore, in the next chapter of growth expanding already best-in-class products and services into new markets and geographies. CTI’s products are highly regarded, as evidenced by its broad range of installations in more than 60 countries around the globe for both the U.S. and Allied Armed Forces and commercial customers.”
Chris Mclemore, Chief Operating Officer of Creative Tent, expressed his enthusiasm by adding: “I look forward to continuing to lead the company forward and partnering with Progress Equity. Throughout the transaction process, I’ve already come to appreciate their collaborative approach and commitment to our future success.”
Progress Equity partnered with Lake Country Capital (www.lakecountrycapital.com) and Parkside Financial Bank & Trust (www.pfbt.com) to complete the transaction. Creative Tent was represented by Eureka Capital Markets, LLC as its exclusive financial advisor (www.eurekacap.com). Learn more about CTI at www.creativetent.us.
About Progress Equity Partners
Progress Equity Partners is a private investment firm that acquires majority control of operating companies typically from founder-entrepreneurs. We are particularly successful in providing entrepreneurs the opportunity to gain liquidity while partnering with us to transition their business for future growth. For more information, please visit www.progressequity.com.
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