Daily News: February 10, 2017

TrueNorth Advises Macton on Junior Debt Refinancing


TrueNorth Capital Partners, through its wholly owned subsidiary, acted as exclusive financial advisor and placement agent to Macton in connection with the consolidation of its junior debt and procurement of additional growth capital.

Terms of the transaction were not disclosed.

Funding was provided by a private investment firm primarily focused on making debt and equity investments in lower middle market companies.

Following on the refinance of its senior debt last autumn, this transaction was an important step in providing Macton Corporation with the capital structure necessary to support its growth initiatives.

Rob Africk, TrueNorth managing director and senior banker to Macton, said, “Macton’s offices and manufacturing facilities have remained in Connecticut throughout its entire history, during which time it has developed a reputation for product innovation, lean manufacturing processes and superior customer support to its North American client base.”

Macton designs and manufactures large moving structures and equipment for a wide variety of rail transportation, industrial and architectural applications.