Madison Street Capital Arranges Credit Facility For Ohio Valley Manufacturing, Inc.
Linkedin

Madison Street Capital Arranges Credit Facility For Ohio Valley Manufacturing, Inc.

Akron : OH : USA | Oct 05, 2011 at 5:46 AM PDT
Source: PRWeb
XX XX
Views: Pending
 

October 05, 2011

Madison Street Capital (MSC) acted as the exclusive financial advisor and placement agent in arranging a credit facility for its client, Ohio Valley Manufacturing, Inc. (OVM), it was announced today by Charles Botchway, CEO of Madison Street Capital. The credit facility was provided by FirstMerit Bank, based in Akron, Ohio. The transaction was led by Madison Street Capital Managing Director Lester (Jay) Rodgers. Terms of the deal were not disclosed.

“The financing of our deal turned out to be very unusual and complicated, but the Madison Street team stood by us all the way, ready to help or intervene as we saw fit,” said Kim Catron, OVM’s CFO. “They did many reviews of documents, prepared analytical documents, talked to an almost endless number of bankers and attorneys, and made recommendations that we were free to follow, or not, without any judgmental attitudes,” Catron said. “We always felt that they were sincerely trying to do the best thing for our company, and we highly recommend Madison Street Capital.”

MSC Vice President A.J. Dhingra said his firm was pleased to help an established client build a stronger foundation for continued growth. “The management team at OVM has built a tremendous business that is positioned for long-term success,” he said. “We were thrilled to be able to help them secure the right financing facility with First Merit that will provide it with expanded flexibility and growth capital to support its customers.”    

About Ohio Valley Manufacturing, Inc.
OVM is leading supplier of first operation blanking, stampings, transfer, and value added parts. OVM is a Tier 1 and Tier 2 supplier to OEMs in the automotive, trucking, RV, appliance, agricultural equipment, and lawn and garden supply industries. The Company operates from an 80,000-square-foot facility in Ohio and is one of the few metal stamping firms with a 4,000-ton press. OVM is well known for its ability to work with its customers to from the early design stages and can provide complete die build, die repair, and die maintenance with its state-of-the-art tool and die center.

About FirstMerit Bank
First Merit Bank is a subsidiary of FirstMerit Corporation (FirstMerit), a diversified financial services firm based in Akron, Ohio. FirstMerit has more than $14.1 billion in total assets with 207 banking offices across Ohio, Pennsylvania, and the Chicago area. FirstMerit provides a complete range of banking and other financial services to consumers and businesses through its core operations.

About Madison Street Capital, LLC
Madison Street Capital is an international investment banking firm committed to the highest standards of integrity and service in providing corporate finance advisory services, merger and acquisition (M&A) expertise, restructuring services, financial opinions, and valuation services to publicly and privately held companies. MSC has offices in North America, Asia, and Africa.
MSC has specialized expertise in partnering with middle-market firms in hundreds of industry verticals and niche markets to achieve the best possible outcome through a variety of transactions. MSC analyzes each client’s unique needs to obtain the best match between buyers and sellers, arrange appropriate financing, and create capitalization structures that optimize the client’s potential. Madison Street Capital is a leading provider of financial advisory services, M&A, and valuations. Please contact Madison Street Capital at 312-529-7000.

###

For the original version on PRWeb visit: http://www.prweb.com/releases/prweb2011/10/prweb8852461.htm

 
  • Clear
  • Share:
  • Share
  • Clear
  • Clear
  • Clear
  • Clear
 
  • Credibility
  • Wait... Flag
 
 
Advertisement
 

More From Allvoices



Use of this site is governed by our Terms of Use Agreement and Privacy Policy.

© Allvoices, Inc. 2008-2014. All rights reserved. Powered by PulsePoint.