May River Capital has acquired and recapitalized Green Bay, Wisconsin-based MECA & Technology Machine Inc, a maker of tight tolerance machined components for the packaging, flexographic printing and web converting sectors. No financial terms were disclosed for the transaction. Johnson Bank provided senior debt funding for the recap while Northstar Capital provided mezzanine debt financing and co-invested equity.
Chicago, Illinois, August 9, 2016 – May River Capital, LLC (“May River”), a Chicago-based private equity investment firm, announced it has purchased and recapitalized MECA & Technology Machine, Inc. (“MECA” or the “Company”) in partnership with management and other co-investors. MECA, based in Green Bay, Wisconsin, is a manufacturer of tight tolerance sleeves, machined components, and rolls used in the packaging, flexographic printing, and web converting sectors. The transaction represents a new partnership between May River and MECA’s President and CEO, Dean Re. In addition to investing alongside May River, Mr. Re will also serve with May River on MECA’s Board of Directors.
Dean Re, President and CEO of MECA, said “We are delighted to partner with May River. They share our vision for growing MECA and can provide financial, strategic and professional resources required to accomplish our goals and to provide our customers with excellent quality and service. This recapitalization is a positive outcome for our shareholders, employees and customers.”
Steve Griesemer, May River Partner, said “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.” Chip Grace, also a May River Partner, added “May River is pleased to be selected to partner with MECA’s management team in the acquisition. We look forward to assisting Dean and the team in realizing MECA’s full potential in the years to come.”
Johnson Bank provided senior debt financing in support of the recapitalization. Northstar Capital provided mezzanine debt financing and co-invested equity in support of the recapitalization. Paul Hastings LLP served as legal counsel to May River and its investor group, while Davis & Kuelthau, s.c. served as counsel to the Company and its shareholders.
About MECA & Technology Machine, Inc.
MECA is a manufacturer and engineering provider of tight tolerance machined components, such as carbon fiber, steel, stainless steel and aluminum cylinders, gears, composite flexographic plate and bridge sleeves, aluminum and carbon fiber anilox sleeves, and mechanically engraved cylinders for the industrial, packaging, flexographic printing, coating and converting industries. For more information on MECA, please visit www.mecagb.com.
About May River Capital, LLC
May River is a private equity investment firm focused on investing in high quality, lower middle market industrial businesses with excellent management teams and the potential for significant growth and value enhancement. MECA represents May River’s fifth investment since the firm was founded in 2012. May River invests in partnership with family offices, mezzanine funds, co-invest funds, industry executives, and high net worth individuals. For more information on May River, please visit www.mayrivercapital.com.