Daily News: December 1, 2017

Essex Arranges $10MM Debt Financing for Anderson Hydra Platforms

Essex Capital Group arranged a $10 million term debt capital raise for Anderson Hydra Platforms and Anderson Crane & Bridge Technologies, affiliated companies in the business of manufacturing, selling and leasing under-bridge access platform cranes.

A deteriorating infrastructure system in the U.S. has led to rapid growth in demand for Anderson’s cranes that allow for under bridge repairs. This recapitalization allowed the company to consolidate numerous debt facilities while providing additional capital to further invest in fixed assets. At the same time, Anderson’s monthly debt service was reduced by approximately 50%.

“I can’t stress enough how critical a partner Essex was in making this complicated deal happen. As a former 30-year banker, I have a unique appreciation for the level of professionalism and steady hand Rob and Bob were able to provide while leading us through this deal,” said Todd Lumpkin, Anderson CFO.

Essex Capital acted as the company’s exclusive advisor in this transaction.

Essex Capital Group is a Tampa, FL-based corporate finance firm serving small and middle market privately-held companies located throughout the U.S.