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Rockland Trust Provides $4.35MM ABL Facility to Macton Corporation

November 18, 2016, 07:23 AM
Filed Under: Manufacturing

Rockland Trust announced it financed a $4.35 million transaction for equipment manufacturer, Macton Corporation and its senior credit facility.

“Rockland Trust is excited to partner with Peter McGonagle and his Macton team to invest in a company that has provided top-notch manufacturing services for decades” said Dan Landers, head of Asset Based Lending at Rockland Trust. “Macton has done a great job positioning itself for growth through product innovations and superior customer support.”

The loan will be used to refinance existing debt and provide the company with increased liquidity to support its growth. TrueNorth Capital Partners acted as the financial advisor to Macton Corporation.  Rockland Trust’s Asset Based Lending team provides innovative financing structures to businesses across the New England area and into New York. The Bank has extensive experience helping a variety of industries including manufacturers, distributors, wholesalers, retailers and service companies to achieve their financial objectives by utilizing Asset Based loans.

Macton Corporation is a full-service equipment manufacturer based in Oxford, CT. For six decades, the company has focused its efforts on engineering, fabricating and installing high quality moving structures. Owned by the members of its senior management team, Macton continues to serve the long-term needs of its customers and provides customers with the same level of innovative engineering, high-quality manufacturing and strong ongoing support.

“Macton is excited about the opportunity to partner with Rockland Trust on this financing transaction, since it provides Macton with additional working capital for the continued growth in our sales and manufacturing operations.  We expect this strong growth in our product markets to continue and having a financial partner such as Rockland Trust is extremely valuable in helping us properly manage that growth.”

Independent Bank Corp. has approximately $7.8 billion in assets and is the holding company for Rockland Trust Company, a full-service commercial bank headquartered in Massachusetts. rated the top Largest Employer to work for in Massachusetts.  The Company is also an FDIC member and an Equal Housing Lender. 

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