Peterson Partners invests in Handi Quilter

Salt Lake-based private equity firm Peterson Partners has made a $3.5 million investment in Bountiful-based Handi Quilter, a manufacturer and marketer of quilting machines, portable frames and tables.

Handi Quilter was founded in 1999 by Laurel Barrus, an avid quilter who has designed her own products, including a mid-arm quilting machine, the HQ Sixteen.

"This investment is a natural for Peterson Partners," said Jason Reading, the partner leading the investment for Peterson, in a prepared statement. "Through our earlier investment in Making Memories, a scrapbook supplies company founded by Bridgette Server, we learned of the powerful demand and real business opportunity for craft and hobby products."

"Peterson has become known within the Intermountain business community for its ability to identify and invest in success stories," said Barrus in a prepared statement. "We intend to become the next chapter in that line of thriving companies."