13.08.2015

$40 million financing for Acme

US based wholesale rental company Acme Lift has received $60 million additional funding to invest in big booms.

The financing will be made available through an affiliate company - MacKinnon Skye Holdings - which was specifically created to provide Acme Lift with access to additional capital for future growth.

The financing includes a senior credit facility provided by Wells Fargo Capital Finance, while the New York-based investment bank G.C. Anderson Partners, through its broker-dealer G.C. Anderson Partners Capital, was financial adviser.

Acme chief executive Woody Weld said: "Acme Lift's goal is to provide the safest and newest fleet of the largest aerial lifts for our retail equipment rental partners. The most recent development in our industry is the 180-foot class of self-propelled aerial lifts. These machines are incredibly safe and productive, but they are not inexpensive. To continue the expansion of our dominant market position in this equipment rental category requires access to significant capital resources."

"When G.C. Anderson approached me with this new financial structure, it was exactly the kind of solution I knew we were searching for. G.C. Anderson’s creative vision was instrumental in allowing Acme Lift to achieve fleet growth in a cost-effective and flexible manner.”

Scott Hadfield, managing director of G.C. Anderson added: “Acme Lift has a unique and highly effective wholesale business model that provides the largest aerial lifts to equipment rental companies across North America. We were pleased to have worked with the Acme team to complete this unique financing, which will provide the company the capital to acquire additional fleet and substantially expand its geographic presence and the number of customers they serve.”