Grenville Strategic Royalty has contracted for a gross sales royalty from Expert RV Park Models in exchange for an advance of $1.56 million with an option, if agreed upon by both companies, to advance an additional $940,000 at a later date.
In exchange for this advance, Grenville will receive a royalty based on Expert Home’s gross revenue within Grenville’s average royalty rate of between 1 and 4 percent.
Based in Calgary, Alberta, Expert Home builds single-piece, self-contained living spaces, ranging from park model homes to custom cottages.
“Partnering with Grenville will help accelerate our growth and expand the business to new places. With this capital, Expert Home can focus on broadening our product line and sales channels,” Expert Home CEO Brad Sander. “We are thrilled at the opportunity.”
To date, Grenville has completed approximately $32.71 million in royalty financings, building a diversified portfolio in Canada and the United States.