"Modular" has become a buzzword in the industry over the past few years, and Guerdon has been one of the companies leading the charge in making off-site manufacturing an attractive, efficient, and profitable project delivery method. In recent months, however, Guerdon Enterprises LLC (founded in 2001), has not quite so successful.
In February, the modular manufacturer's founders, Lad Dawson and Mike Bowers, purchased the majority of the company's assets in a foreclosure auction from its lender, Main Street Capital Corporation. Dawson and Bowers announced shortly after that they have formed a new company, Guerdon LLC, in partnership with Innovatus Capital Partners LLC.
Former chief executive officer of Guerdon Enterprises LLC, John Beddow, will also lead the new Guerdon LLC. According to its founders, the company will focus its efforts for growth in the West Coast markets.
“We have reached the tipping point in the West Coast markets whereby rising costs and declining availability of labor have dramatically expanded the demand for factory construction solutions,” said Dawson. “Guerdon’s modular technology offers developers and customers a solution for the cost, schedule, quality and labor availability challenges they face.”
“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,” said Beddow.