VMI Announces Evergreen Pacific Partners’ Purchase of Majority Stake in Company
A news release from Vantage Mobility International (VMI) reports that Evergreen Pacific Partners (Evergreen) has purchased a majority stake in the Phoenix-based company. Significant ownership stakes in the company will remain with Doug Eaton, CEO, and Tim Barone, CFO, who will continue to lead VMI’s operations.
Eaton states in the release that, “Evergreen’s involvement in VMI will give us the resources to help even more people. This relationship will allow us to invest in new manufacturing technologies that will lower our costs…Working closely with our dealer network, we’ll expand our marketing to reach and serve more customers.”
Eaton adds that the company also aims to bolster its team, adding more “top-notch” individuals to sustain its growth long-term.
“VMI is well positioned to grow given its strong reputation, dealer network, and partners. We look forward to helping VMI serve a large, and growing, population segment with specially equipped vans that meet their specific needs,” T.J. McGrill, a co-founder and managing partner at Evergreen Pacific Partners, says.
Barone adds that VMI was “impressed with Evergreen Pacific Partners’ ability to grasp the business opportunity and empathsize with our customer. Their track record of success gives us the confidence that VMI will now have the resources to turn the infrastructure and expertise we’ve built over the past decade into explosive growth.”
Evergreen Pacific Partners invests in traditional buyouts, management-led buyouts, and growth equity investments involving traditional middle-market companies in the Western US and Canada.