LYNCHBURG, Va. — Sitestar Corp. has announced the creation of the HVAC Value Fund LLC along with JNJ Investments. Sitestar has committed an initial $1 million investment to the HVAC Value Fund for the purpose of acquiring and managing HVAC companies in Arizona and throughout the Southwest. This investment will be managed by Nathan Reid and JNJ Investments.
Reid is the managing member of JNJ Investments and a portfolio manager with Bridge Reid Funds, a value-oriented investment partnership. He previously founded Southwest Realty & Property Management, a property management company with 1,200 residential units under management. This company was sold earlier this year to Property Frameworks, a subsidiary of Realogy Holdings Corp.
“We could not be more excited to join forces with Nathan on this investment. His unique experience coupled with a value philosophy makes him a perfect fit for Sitestar,” said Steven Kiel, Sitestar’s CEO.
“I am looking forward to working with Steve and Sitestar to build a strong subsidiary focused on generating cash flow and high returns on equity. I am in the process of putting together a solid team to execute the strategy, and I am excited about our prospects,” said Reid.
HVAC Value Fund expects to close on two acquisitions shortly.
For more information about Sitestar, visit www.sitestar.com.
Publication date: 6/28/2016