G.C. Andersen Partners Capital Completes $40.0M Financing For MacKinnon Skye Holdings
MESA, AZ G.C. Andersen Partners, a New York-based investment bank, announces 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.
"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," said Woody Weld, Acme's Lift's Chairman and Chief Executive Officer. "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."
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 risen in excess of $365 million throughout the last 12 months.
"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," said Weld. "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."