May River Capital has acquired MECA & Technology Machine, in partnership with the company’s management team and other co-investors.
MECA is a manufacturer of tight tolerance sleeves, machined components, and rolls used in the packaging, flexographic printing, and web converting sectors. The company is lead by its President and CEO Dean Re and is headquartered in Green Bay (www.mecagb.com).
May River Capital invests from $10 million to $40 million of equity in companies with revenues of at least $15 million and EBITDA between $3 million and $15 million. Sectors of interest include manufacturing, commercial services, supply chain and value-added distribution. Control investments are preferred but the firm will consider significant minority investments. May River was founded in January 2012 by Chip Grace, Dan Barlow and Steve Griesemer and is headquartered in Chicago. The acquisition of MECA represents May River’s fifth investment since its founding (www.mayrivercapital.com).
“We were immediately drawn to MECA’s unique manufacturing capabilities and processes, its strong customer relationships, and the mission critical nature of MECA’s products,” said Steve Griesemer, a Partner at May River.
Minneapolis-based Northstar Capital (www.northstarcapital.com) provided mezzanine debt financing and was an equity co-investor. Johnson Bank (www.johnsonbank.com) based in Racine, WI provided senior debt financing.
© 2016 Private Equity Professional • 8-17-16