Lometa Capital Partners Makes Minority Investment in Artistic Paver Manufacturing
09 Nov-2022
admin
News
Miami Beach, FL., November 9, 2022 – Lometa Capital Partners (“Lometa”) is pleased to announce its minority equity investment in support of Blue Ridge Construction Capital LLC’s (“BRCC”) acquisition of Artistic Paver Manufacturing (“Artistic”).
Artistic, based in N. Miami Beach, FL, is a manufacturer of premium interlocking, decorative concrete pavers sold for outdoor living applications. The Company has manufacturing facilities in Miami and Phoenix and serves the fast-growing Southeastern and Southwestern geographic markets. The brand and product offering are widely respected by contractors and consumers, and the recent expansion in Miami positions the Company for tremendous growth.
Dan Essig, who founded Artistic in 2000 and served as President and CEO, will transition to a full-time advisor role and join the Board of Directors. Dan stated, “I am really proud of the successful 22-year history of Artistic and even more excited to partner with Blue Ridge to build the Company into a category leader.”
Lometa Partner Vince Smith commented, “Lometa has a deep relationship with BRCC dating back to 2019 and believes the combination of Artistic’s impressive financial profile and attractive geographic exposures along with the BRCC principals’ unique industry expertise presented a compelling investment opportunity for Lometa and its investors.”
About Lometa Capital Partners
Lometa Capital Partners is a multi-family office investing in strategically viable lower-middle market companies in the business services and niche manufacturing and industrial sectors. Lometa is currently investing out of a $75 million perpetual-life fund with no predetermined timeframe to exit. Its Limited Partners are successful entrepreneurs and highly engaged to drive outcomes in the portfolio where they possess deep knowledge and experience.
About Artistic Pavers Manufacturing
Artistic Pavers Manufacturing, Inc. is a premium paver manufacturer serving residential and commercial markets across Southeastern and Southwestern U.S. markets.
www.artisticpavers.com
For more information, please contact:
Vince Smith
Partner
vince@lometacapital.com