Bluhaus Small Business Fund Completes Investment in Super Automotive Products INC
SAN JUAN, Puerto Rico, December 23, 2020 – Bluhaus Small Business Fund (“Bluhaus”, or the “Fund”), a Puerto Rico-based private equity fund, completed an investment in Super Automotive Products Inc. (“Super Truck”), to support the Company’s acquisition of certain assets from Guaraguao Truck Sales Inc. The acquisition was accomplished through financing package that included senior bank debt provided by a commercial bank and subordinated debt provided by the Fund.
This transaction is the second investment of the Fund, which worked closely with Super Truck and its Chief Executive Officer, Mr. Jorge Mederos for over a year, providing support in all aspects of the transaction from negotiations with the seller and the preparation of financial projections and valuation analyses, to performing due diligence and arranging the complete financing package required for the acquisition.
Jorge Mederos commented “this acquisition allows Super Truck to eliminate redundancies that the 2 businesses had independently, as well as capitalize on the strengths the companies had individually. We are now the largest Truck Dealer in PR, with 9 stores and 3 full service facilities to serve customers island wide. Our footprint makes a Navistar International truck the sensible decision to consider for anyone looking to purchase a new truck.
Eduardo Inclán of Bluhaus Small Business Fund said of the transaction, “We’re excited for the Super Truck team as they capitalize on strong growth opportunities within the trucking industry. Mr. Mederos brings a wealth of experience within the industry and we look forward to continuing working with him as Super Truck continues to grow and expand to the new truck sales segment, which we believe has great potential.”
About Super Truck:
Super Truck was founded in 1965 and is the leading distributor of parts and heavy equipment for trucks, trailers, and buses throughout the Caribbean. The Company is also leader in the sale medium-size trucks and the sole dealer for Navistar International trucks in Puerto Rico. The Company currently has nine stores across the island and three service facilities strategically located in Toa Baja, Ponce and Bayamón.
About Bluhaus Small Business Fund:
Bluhaus Small Business Fund is headquartered in San Juan, Puerto Rico. The Fund provides tailored debt and equity capital solutions to small and medium-sized enterprises. The Fund was launched in March 2020 after being licensed by the U.S. Small Business Administration as a Specialized Small Business Investment Company. The Fund’s investment objective is to provide debt and related equity investments to small and medium-sized businesses with committed and experienced management teams in a broad variety of industries. Bluhaus is a value-added partner to entrepreneurs, management teams and business owners.
