“Rockland Trust is excited to partner with Peter McGonagle and his Macton team to invest in a company that has provided top-notch manufacturing services for decades” said Dan Landers, head of Asset Based Lending at Rockland Trust. “Macton has done a great job positioning itself for growth through product innovations and superior customer support.”
The loan will be used to refinance existing debt and provide the company with increased liquidity to support its growth. TrueNorth Capital Partners acted as the financial advisor to Macton Corporation.
Oxford, CT-based Macton is a full-service equipment manufacturer.
Independent Bank has approximately $7.8 billion in assets and is the holding company for Rockland Trust Company, a full-service commercial bank headquartered in Massachusetts
TrueNorth Capital Partners provides corporate advisory services on mergers and acquisitions and restructurings as well as provides valuations primarily to middle market companies.