Arc Machines, Inc.'s Management Team and Marwit Capital Partner With
Leading Mezzanine Provider to Drive Growth
NEW YORK, Feb. 7 /PRNewswire/ -- Praesidian Capital Investors, a
leading provider of mezzanine capital for small and mid-sized companies,
has provided $8.5 million of senior subordinated debt and $250 thousand of
equity to support the recapitalization of Arc Machines, Inc. ("AMI") by
Marwit Capital and AMI Management.
Headquartered in Pacoima, California, AMI is the leading designer,
manufacturer and distributor worldwide of a broad range of automated
orbital welding equipment which is sold to a "blue-chip" client list -- in
a wide variety of industries - aerospace, semiconductor,
bio-pharmaceutical, nuclear, power generation, shipbuilding, defense,
dairy/food processing, oil & gas installations and petrochemical.
"At Praesidian we like to partner with experienced equity sponsors and
quality management teams to take strong businesses to the next level of
profitability and success," said Jason Drattell, Managing Partner at
Praesidian. "The owner-operators of Arc Machines have built a
market-leading position over the past 32 years. With its long history of
profitability, well- conceived business plan and top notch management team,
led by David Sherrington, to execute that plan, we believe the prospects
for Arc are great."
"Arc Machines has a reputation for product innovation and operates in a
number of high growth industries," said Matthew Witte, Managing Partner at
Marwit Capital. "With the support of Praesidian and Marwit, the company is
in prime position for further development of products and services and
expansion in both the domestic and international markets."
"Praesidian's knowledge of the industrial sector stands out among
mezzanine firms," said David Sherrington, CEO of Arc Machines, Inc. "We are
proud of our business, and we are very excited to be working with partners
who have a track record of positioning middle-market companies for
sustained success."
About Praesidian Capital Investors
Praesidian Capital partners with small and mid-sized businesses,
providing private debt capital. With a focus on its core competency in
mezzanine financing, Praesidian invests in established, historically
profitable companies often in connection with a management/leveraged
buyout, recapitalization or refinancing. Based in New York City, Praesidian
manages over $400 million in committed capital. For more information, visit
http://www.praesidian.com.
About Arc Machines, Inc.
Headquartered in Pacoima, California, Arc Machines is the leading
worldwide developer and manufacturer of automated orbital welding systems,
including power sources, weld heads, arc zone vision systems and related
accessories. Further information is available at http://www.arcmachines.com.
SOURCE Praesidian Capital Investors
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Related links:
http://www.praesidian.com
http://www.arcmachines.com
CONTACT:
Dan Jacobs of Broadgate Consultants LLC,
+1-212-232-2227, for Praesidian Capital Investors
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