Mason Manufacturing, a Decatur, IL-based manufacturer of heat exchangers, pressure vessels, and columns for the biotechnology, biofuels, grain processing, chemical, petroleum, power, and water treatment industries, has received a “multi-million dollar” investment.The investment was led by Advantage Capital Partners that provided financing in connection with the Illinois New Markets Development program and the federal New Markets Tax Credit program.
The financing package also included co-investment from:
– Jad Mason, CEO
– Ty Mason, President
– executives and members of the Board of Directors
– Ty Mason, President
– executives and members of the Board of Directors
– MCH Equity Ventures, which is represented on the Board by Mark Huneke.
In addition, Marshall & Ilsley Bank provided a revolving line of credit, which will be used to provide financing for the short term working capital needs of the business.
In conjunction with the investment, Mark Lewis, Principal at Advantage Capital Partners, is joining Mason’s Board of Directors. Commenting on the financing package, he said: “Our investment will help sustain and expand this manufacturing business, preserving 35 high paying jobs and transitioning the company to a new phase of growth”.
Mason intends to expand its offerings to customers around the world.
FinSMEs
14/07/2010