Garrison Funds $40MM Term Loan to A.S.V.
Garrison Investment Group announced the funding of a $40 million term loan credit facility, in conjunction with a $35 million JPMorgan Chase asset-based revolver to A.S.V. Garrison Loan Agency Services acted as administrative agent.
A.S.V. has 12-month revenue and adjusted EBITDA of $130 million and $14.9 million, respectively. Proceeds were used to finance the acquisition of 51% of A.S.V. by Manitex International from Terex.
Bridgeview, IL-headquartered Manitex International is an international provider of cranes and specialized material and container handling equipment.