New York, NY, February 01, 2018 --(PR.com
)-- Cogent Modular, LLC (“Cogent”) announced today that it has engaged Castle Placement as its exclusive placement agent to raise $25+ million to develop its business operations and establish a stronger presence on the West Coast.
Cogent manufactures prefabricated, steel-framed commercial and residential modules for mid-rise and high-rise hotels, mixed-use developments, and luxury multi-family properties on the West Coast. Presently, there are no manufacturers of steel-framed modules on the West Coast, and no dominant leader in this field.
Steel-frames offer several advantages. Most importantly, steel framed module can be erected in mid-rise and high-rise applications at substantially lower cost than site-built construction. Steel is superior to wooden modules in strength and uniformity. Furthermore, indoor factory manufacturing protects from weather and offers greater quality control, efficiency and worker safety.
Cogent plans to build its manufacturing facility in the Portland, OR vicinity, located near water, rail and interstate transportation, providing access to major markets (San Francisco, Los Angeles, San Diego and Seattle). The management team is led by Joe Mansour, Andy Feola and two of the nation’s leading experts in modular construction, manufactured housing design, development, and plant operations.
Founded in 2009, Castle Placement raises equity and debt capital for private middle market companies across a broad spectrum of industries. Highly experienced investment bankers and a robust, data-driven, innovative technology platform - including artificial intelligence/machine learning - match great companies with global institutional investors. Castle Placement’s proprietary app, CPGO, connects companies with investors in real time. It has over 64,500 private equity, venture capital and strategic investors, family offices, pension funds, foundations, endowments, sovereign wealth funds, hedge funds and lenders.