New York City investment bank G.C. Andersen Partners said on Thursday that it has secured $40 million in financing for MacKinnon Skye Holdings, an affiliate of Acme Lift Co., both based in Mesa.
MacKinnon Skye is a financing vehicle created to provide Acme with access to capital for fueling future growth.
MacKinnon Skye’s parent company, Acme Lift, is the world's largest wholesale rental company and a leading renter of state-of-the-art aerial work platforms and tele-handlers.
"Acme Lift has a unique and highly effective wholesale business model that enables us to provide the safest and newest fleet of large aerial lifts to our customers,” Acme Lift Chairman and CEO Woody Weld said. “The local, regional and national equipment rental companies partner with Acme to enable them to provide their customers with a full complement of equipment, including these specialized higher-lifting aerial units."
The financing came in the form of a Senior Credit Facility from Wells Fargo Capital Finance, part of Wells Fargo Bank, NA. G.C. Andersen, which plays a consistently active role in arranging debt financing for its clients, was exclusively self-advised during the transaction through its wholly owned broker-dealer arm, G.C. Andersen Partners Capital.
"We are seeing strong demand for our services, so when G.C. Andersen approached me with this new financial structure, it was exactly the kind of solution I knew we were searching for,” Weld said. “G.C. Andersen's creative vision was instrumental in completing a very successful capital-raising outcome…that will allow Acme Lift to achieve fleet growth in a cost-effective and flexible manner."
Acme Lift, founded in 1997, is a privately owned wholesale rental company based in Mesa.
Since 1996, G.C. Andersen Partners has become known for its creativity, problem-solving capabilities and its partners’ depth of experience, actively advising the equipment rental industry.