Barvista Homes Receives $2 Million in Funding from Enhanced Capital Partners and Private Investors.Business Editors GREENWOOD Greenwood. 1 City (1990 pop. 26,265), Johnson co., central Ind.; settled 1822, inc. as a city 1960. A residential suburb of Indianapolis, Greenwood is in a retail shopping area. Manufactures include motor vehicle parts and metal products. VILLAGE, Colo.--(BUSINESS WIRE)--May 19, 2004 Revolutionary Approach to Home Building Provides Barvista with Major Growth Opportunity Enhanced Capital Partners, a national investment firm specializing in state-specific investments, today announced it has led a $2 million investment in Barvista Homes, a leading builder of off-site-construction housing. This is the first round of funding Barvista has raised from private and institutional investors Institutional Investor A non-bank person or organization that trades securities in large enough share quantities or dollar amounts that they qualify for preferential treatment and lower commissions. . Barvista homes are currently available in seven states, and the capital will be used to expand its customer base in additional states. Customers can choose from more than 50 different home designs that are constructed off-site and then transported to the home site for final assembly. Barvista also has in-house In-house In the context of general equities, keeping an activity within the firm. For example, rather than go to the marketplace and sell a security for a client to anyone, an attempt is made to find a buyer to complete the transaction with the firm. engineering and design capabilities to customize plans to fit almost any architecture and design -- single family, multi-family, or commercial. Sales of Barvista Homes have soared in the past year due to the increased housing demand in Colorado. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the Colorado Department of Housing, more than 1,000 off-site constructed single-family homes were sold in Colorado last year alone. Off-site-construction housing is one of the fastest growing segments of the building industry in the country, increasing at an estimated rate of 9% annually. Barvista Homes uses a groundbreaking assembly approach to home building. The entire home, including fixtures, wiring, paint and carpet is built in a 103,000 sq/ft building facility, the equivalent of two and a half football fields. Each piece is then transported to the home site for final assembly. Because the house is transported over the road, it is built to higher quality and strength standards than homes built onsite. Cost-overruns and delays from material damage and loss are kept to a minimum due to the fact that the home is built indoors and not exposed to the elements. "In our first year of business, Barvista reached more than $9 million in sales," said Mick Barker barker a term for an animal that does not usually bark which makes a violent respiratory effort, often during a convulsion, accompanied by a sound which roughly resembles a dog's bark. , CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and president of Barvista Homes. "In our second year we are targeting to double that amount. We attribute a lot of this growth to our ability to deliver what customers want -- high quality, great value and appealing designs. This investment will help us continue to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. the high growth we are experiencing." The $2 million investment will be used to expand all segments of Barvista's production and will allow Barvista to keep up with the growing demand for off-site-construction housing. Customers are drawn to this type of housing due to high-quality materials, ability to customize designs and the low cost compared to building a custom home on-site. "By utilizing off-site construction techniques, Barvista builds a better quality home at a better price, and the building time is much faster than traditional on-site housing construction," said Tony Cleberg, one of Barvista's private investors and former executive vice president and CFO See Chief Financial Officer. of Champion Enterprises, Inc. "Barvista's advantages offer an excellent investment opportunity." "When you couple high growth with one of the most experienced teams in the industry, that puts Barvista in a position to significantly expand in the years to come," said David Orlandella, managing director of Enhanced Capital Partners. "Barvista Homes brings a disruptive disruptive /dis·rup·tive/ (-tiv) 1. bursting apart; rending. 2. causing confusion or disorder. approach to a multi-billion dollar industry. We look for companies that are well positioned to capitalize on this type of dynamic, and Barvista is a good example." About Enhanced Capital Partners Enhanced Capital Partners, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , formed in 1999, is a national investment firm specializing in state-specific investments in small and emerging companies with its private investment funds Noun 1. investment funds - money that is invested with an expectation of profit investment assets - anything of material value or usefulness that is owned by a person or company . Enhanced Capital seeks to achieve capital appreciation while adhering ADHERING. Cleaving to, or joining; as, adhering to the enemies of the United States. 2. The constitution of the United States, art. 3, s 3, defines treason against the United States, to consist only in levying war against them or in adhering to their enemies, to a mandate tailored for a local investment approach. The company's goal is to promote the growth and expansion of small businesses while attaining significant returns for its investors by mentoring and leveraging additional private equity for its portfolio companies through its partnerships. The company has established investment funds in Colorado, Louisiana, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , and Alabama and is currently seeking investment opportunities in those states. Enhanced Capital is in the process of establishing new investment funds in Texas and Washington, D.C. For more information about Enhanced Capital Partners, visit www.enhancedcapital.net. About Barvista Homes Barvista Homes, formed in 2002, is a leading builder of off-site construction housing. Using a groundbreaking assembly approach to home building, the company's goal is to construct a superior finished home by providing high quality products, unique floorplans and customized building and design options. Barvista homes are currently offered in seven states. For more information about Barvista Homes, visit www.barvistahomes.com. |
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