Douglas Machines is a well run company with a leadership position in its sector.
New York, NY (PRWEB) May 22, 2012
Amalgamated Capital (AmalCap), the New York-based leveraged finance division of Amalgamated Bank, announced today that it recently provided senior term loan and revolving loan facilities in support of the acquisition of Douglas Machines Corporation (Douglas) by KODA Enterprises Group (KODA). Subordinated debt was provided by Harvest Capital Credit, LLC. The amount of the financing was not disclosed. AmalCap provides asset-based financing to individual companies as well as cash flow-based senior secured financing to support investments made by private equity sponsors in high quality, lower middle-market companies across the United States. Also, follow Amalgamated Bank on Facebook and Twitter.
Based in Clearwater, Florida, Douglas is the leading manufacturer and supplier of industrial washing and sanitizing systems for food related industries. KODA Enterprises Group, located in Lexington, Massachusetts, is a middle market private investment firm that concentrates on companies in niche markets.
“Douglas Machines is a well run company with a leadership position in its sector,” said Robert Love, Executive Vice President and Head of Amalgamated Capital. “Its prospects for continued growth are excellent, and its strong management team will continue to run the company. We are grateful to KODA for bringing this opportunity to us and look forward to working with them on future transactions.”
“This was our first transaction with AmalCap,” said William S. Karol, President and CEO of KODA, “and we appreciated the smooth closing and their help in structuring a transaction that precisely fit Douglas’s needs at this point in its growth cycle.”
About Amalgamated Capital
Amalgamated Capital is the leveraged finance division of Amalgamated Bank, a privately-owned commercial bank with $4.5 billion in assets. AmalCap provides asset-based financing to individual companies as well as asset-based and cash flow-based senior secured financing to support investments made by private equity sponsors in lower middle-market companies across the United States. Borrowers operate in a diverse array of industry sectors and generally have annual revenue ranging from $15 million to $150 million and EBITDA of $3 million to $15 million. Visit AmalCap at amalcap.com.
About Amalgamated Bank
Established in 1923 by the Amalgamated Clothing Workers of America, Amalgamated Bank continues the progressive traditions of its founders as the only union-owned bank in the United States. Chartered by New York State, Amalgamated Bank is an FDIC insured commercial bank. In addition to Amalgamated Capital™, the Bank’s corporate divisions include Investment Management, Commercial Banking, and Commercial Real Estate Finance, and Amalgamated has 25 retail branches including 20 in New York City as well as branches in: Las Vegas, Nevada; Lyndhurst, New Jersey; Pasadena, California, and Washington, D.C. Visit http://www.amalgamatedbank.com.
About KODA Enterprises Group
KODA Enterprises Group, based in Lexington, Massachusetts, is a middle market private investment firm that concentrates on companies in niche markets that have the potential to benefit from the financial strength and operational expertise KODA provides to its portfolio companies. Visit http://www.koda.com.
About Douglas Machines Corporation
Located in Clearwater, Florida, Douglas is the leading manufacturer and supplier of industrial washing and sanitizing systems for food related industries. The Company designs and manufactures a broad range of systems used in the bakery, meat, poultry, food processing, packaging and distribution industries serving many of the most recognizable names in the food preparation market. Visit http://www.dougmac.com.
Bob Rinklin, Essential Public Relations
973-509-3431, 973-768-2425 or rinklin(at)comcast(dot)net
Laura Rzasa, Donley Communications
212-751-6126 or lrzasa(at)donleycomm(dot)com