Acme Lift receives $60 million in financing
By Lindsey Anderson17 August 2015
MacKinnon Skye Holdings, a company affiliated with Acme Lift Co., has received $60 million in new financing to expand Acme's fleet of big booms.
"Acme Lift's goal is to provide the safest and newest fleet of the largest aerial lifts for our retail equipment rental partners,” said Woody Weld, Acme Lift’s chairman and chief executive officer. “The most recent development in our industry is the 180-foot class of self-propelled aerial lifts. These machines are incredibly safe and productive, but they are not inexpensive. To continue the expansion of Acme Lift's dominant market position in this equipment rental category requires access to significant capital resources."
MacKinnon Skye was created to provide Acme Lift access to additional capital to allow it to significantly increase funding for future growth.
The financing includes a senior credit facility provided by Wells Fargo Capital Finance, part of Wells Fargo Bank, NA. The New York-based investment bank G.C. Anderson Partners, through its broker-dealer G.C. Anderson Partners Capital, was the financial adviser and placement agent for MacKinnon Skye.
"When G.C. Anderson approached me with this new financial structure, it was exactly the kind of solution I knew we were searching for," Weld said. “G.C. Anderson’s creative vision was instrumental in allowing Acme Lift to achieve fleet growth in a cost-effective and flexible manner.”
Scott Hadfield, managing director of G.C. Anderson, said, “Acme Lift has a unique and highly effective wholesale business model that provides the largest aerial lifts to equipment rental companies across North America. We were pleased to have worked with the Acme team to complete this unique financing, which will provide the company the capital to acquire additional fleet and substantially expand its geographic presence and the number of customers they serve.”