After a foreclosure auction, Guerdon Enterprises of Boise has a new owner.
A new investor group acquired the assets earlier this year. Innovatus Capital Partners, LLC and Guerdon founders Lad Dawson and Mike Bowers now control the company, which keeps its headquarters in Boise.
“Our new ownership team brings the financial resources and strength to allow Guerdon to focus on multi-family, student housing, and affordable housing projects and to build on the legacy, leadership, and experience of its team in those markets, in addition to focusing on the hospitality markets,” new company CEO John Beddow said.
Beddow takes over for Jerry Goodwin, who joined Guerdon after the retirement of Dawson in 2017.
Innovatus Capital Partners, a New York City investment firm led the investment. The firm says it manages roughly $1.7 billion in assets, and focuses on “lower middle-market and middle-market companies” and says its typical deal size is in the $10 million to $50 million range. Terms for the Guerdon deal were not released.
Guerdon is one of several local firms that focuses on modular building construction. It primarily builds hotel rooms at its Federal Way facility in Boise. The complete rooms then travel to project sites across the west where crews assemble them into finished hotels.
Guerdon says it built modular units for Mariott, Hilton and Hyatt hotels.