NEW YORK and MESA, Ariz., Aug. 13, 2015 /PRNewswire/ -- G.C. Andersen Partners, a New York-based investment bank, announced the closing of a $40.0 million financing for MacKinnon Skye Holdings. MacKinnon Skye, an affiliate of Acme Lift Co., is a special purpose financing vehicle that was created to provide Acme access to additional capital to allow it to significantly increase funding for future growth. Acme Lift, based in Mesa, Arizona, is the world's largest wholesale rental company and the leading re-renter of the latest, largest aerial work platforms and telehandlers.
The financing consisted of a $40 million Senior Credit Facility provided by Wells Fargo Capital Finance, part of Wells Fargo Bank, NA. G.C. Andersen Partners, through its wholly-owned broker-dealer G.C. Andersen Partners Capital, acted as exclusive financial advisor and placement agent. G.C. Andersen continues to remain very active in arranging debt financing for its clients, having raised in excess of $365 million over the last twelve months.
Commenting on the transaction, Woody Weld, Acme's Lift's chairman and chief executive officer said, "Acme Lift has a unique and highly effective wholesale business model that enables us to provide the safest and newest fleet of large aerial lifts to our customers. The local, regional and national equipment rental companies partner with Acme to enable them to provide their customers with a full complement of equipment including these specialized higher-lifting aerial units."
"We are seeing strong demand for our services so when G.C. Andersen approached me with this new financial structure, it was exactly the kind of solution I knew we were searching for. G.C. Andersen's creative vision was instrumental in completing a very successful capital-raising outcome, that will allow Acme Lift to achieve fleet growth in a cost-effective and flexible manner," Weld concluded.
About Acme Lift
Acme Lift, founded in 1997, is a privately owned wholesale rental company based in Mesa, Ariz. The company has the largest selection of the biggest, latest-model self-propelled boom lifts and telehanders for re-rent throughout the United States and Canada at competitive daily, weekly or monthly rates.
About G.C. Andersen Partners
Founded by G. Chris Andersen in 1996, G.C. Andersen Partners is an investment banking partnership best known for its creativity, problem solving capabilities and the unusual depth of experience of its partners. The firm advises both private and publicly-held clients and has been an active advisor to companies in the equipment rental industry seeking to achieve the best possible outcome in their capital raising, merger and acquisition and corporate restructuring transactions. For more information, please visit www.andersenllc.com. The financing was executed through G.C. Andersen Partners' wholly-owned broker-dealer, G.C. Andersen Partners Capital, LLC, Member FINRA/SIPC.
For more information contact:
Krantz & Company
SOURCE G.C. Andersen Partners