News

Montlake Capital has recapitalized Fast Water Heater Company, a provider of residential and commercial plumbing services focused on the water heater sector. No financial terms were disclosed. ACT Capital Advisors was financial adviser to Fast Water Heater Company.

PRESS RELEASE

SEATTLE (PRWEB) JUNE 26, 2018

ACT Capital Advisors is pleased to announce the recapitalization of Fast Water Heater Company by Montlake Capital. ACT acted as financial advisor to Fast Water Heater Company.

Founded in 1986, Fast Water Heater Company (“Fast”) is a leading provider of residential and commercial plumbing services focused on the water heater category. Fast services the West Coast and prides itself on same-day service, professionalism and uncompromising integrity. The Company is headquartered in Bothell, Washington and runs a call center providing 24/7 emergency support serving residential and commercial customers, property managers and utilities.

Fast will continue to be led by Jason Hanleybrown who has served as CEO since 2006. The Company engaged ACT Capital Advisors of Seattle to assist in locating the best partner for the next chapter in its success story. After an extensive national search Fast chose Montlake Capital (“Montlake”) as its financial partner. Montlake is a well-known growth equity firm that proved to be an ideal fit for Fast.

Jason Hanleybrown noted, “I believe we have found the best partner for our company. Montlake will add value well beyond providing capital. Their strategic guidance will enable us to stay on our rapid growth trajectory and help us continue to improve in how we care for our customers and business partners. Finally, Montlake will help us to retain and attract great co-workers and skilled labor” Andy Dale, Managing Director of Montlake said, “We are very excited to work with Jason and the team. They have a proven business model that we will scale together. Jason’s leadership and creative and motivated workforce will continue to deliver an industry leading customer experience.”

ACT’s Chairman, Robert Hild, and Troy Jenkins, Associate, represented Fast Water Heater in the recapitalization.
Robert Hild stated, “It was a pleasure working with Jason and I am excited ACT was able to find Montlake as their financial partner. I am confident the partnership will result in continuing success for the business.”

About Montlake Capital – Montlake Capital is a leading growth equity firm with extensive investing and operating experience. Montlake principally targets Pacific Northwest based businesses with $5 to $50 million of revenue and $1 to $10 million of EBITDA. The firm actively partners with management teams to build and grow businesses, leveraging its extensive operational and strategic expertise to create sustainable value. For more information about Montlake Capital, please visit their website at: http://www.montlakecapital.com.

About Fast Water Heater Company – Founded in 1986, Fast Water Heater Company provides installation and repair of hot water heaters in Washington, Oregon and California. Fast is a values driven company that prides itself on caring for its customers, employees and business partners. Fast provides installation services for major water heater brands including Rheem, Bradford White, Noritz, Navien, and most other major brands. Fast is licensed and bonded in all three states. For more information, please visit their website at: https://www.fastwaterheater.com.

About ACT – ACT Capital Advisors, LLC is a leading Mergers & Acquisitions (M&A) and Corporate Finance firm that represents lower middle-market companies ($5 million to $50 million in annual revenues) across a variety of sectors and industries, including industrial manufacturing, information technology, construction, healthcare, aerospace, consumer staple/discretionary, oil and energy, as well as outsourced services. The firm provides strategic financial advice to closely held, family-owned, as well as private equity sponsored organizations and corporate shareholders that wish to sell their company, raise growth capital, or secure commercial financing. Leveraging ACT’s deep industry-wide knowledge and strategic auction process, clients appreciate ACT’s approach, pairing the professional expertise of a national investment banking firm with the senior level attention and entrepreneurial creativity of a smaller enterprise.