Meridian Capital LLC (“Meridian”) is pleased to announce that its client, Mobile Tool Management (“MTM” or the “Company”), has secured refinancing and growth capital from Craft3. In connection with the transaction, Meridian served as financial advisor to the shareholders of MTM.
Headquartered in Mukilteo, WA, MTM is a leading provider of portable automation tools and software systems to the global aerospace and aircraft manufacturing industry. Over the past 18 months, the Company’s technology has gained significant acceptance as a preferred solution for OEMs seeking increased manufacturing efficiency and employee safety in “next-gen” factories. The Company plans to use the funds to invest in engineering resources and support production increases to meet demand.
Craft3 is a Community Development Financial Institution (CDFI) lender founded in 1994. Over the past twenty years, Craft3 has invested over $322 million from offices in Ilwaco, Port Angeles, Seattle and Spokane, Washington, and Astoria, Bend and Portland, Oregon.
Brian Murphy, Managing Director at Meridian Capital commented on the transaction, “The shareholders of MTM are facing an exciting inflection point in their business. We are so thankful to have had the opportunity to help them secure a growth financing solution that meets their unique growth profile and capital needs. With growing acceptance of its differentiated technology, the Company is now positioned for tremendous growth.”