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G.C. Andersen Completes $109.1-Million Financing for Acme Lift | Industry News

New York-based investment bank G.C. Andersen Partners has helped arrange  $109.1 million in financing for Acme Lift Co., Mesa, Ariz., a major wholesale re-renter of the largest aerial work platforms.

The financing was structured with an $85-million senior revolving credit facility from PNC Bank N.A. and Wells Fargo Capital Finance, part of Wells Fargo & Company Bank, and a $24.1-million note from Morgan Stanley Credit Partners II L.P.  G.C. Andersen Partners was the exclusive financial advisor and placement agent for Acme Lift.

Woody Weld, Acme Lift’s chairman and chief executive officer, said the funds will allow the company to refinance outstanding debt, retire preferred stock and subordinated notes, and acquire additional equipment to fuel future growth and expansion.

Weld said that G.C. Andersen's understanding of Acme Lift's business enabled  Andersen to effectively demonstrate to the financial community "the full value and growth opportunities of Acme Lift, which resulted in the very successful capital raising effort.”


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