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TCFCF Provides $24.5MM to Support Mangrove Equity Partners’ Investment

March 10, 2016, 07:56 AM
Filed Under: Technology

TCF Capital Funding (TCFCF), a division of TCF National Bank which is a subsidiary of TCF Financial Corporation announced that it provided a $24.5 million facility to support Mangrove Equity Partners in the merger of Computer Aided Technology, LLC (“CATI” or the “Company”) and MCAD Design, LLC (dba “MCAD Technologies” or “MCAD”). The combined technical resources of Computer Aided Technology and MCAD includes over 60 product development professionals specializing in a variety of industries, products, and applications.

CATI and MCAD are leading value-added resellers (“VARs”) distributing SolidWorks 3D computer-aided design (“CAD”) software and Stratasys 3D printers, as well as related products, training and services. CATI, headquartered in Buffalo Grove, IL, was founded in 1992 and became the first reseller of SolidWorks in North America in 1995.  MCAD was founded in 1994 and is headquartered in Denver, CO.  MCAD specializes in sales, support, and training of engineering productivity tools including 3D Solid Modeling, Design Validation, Product Data Management, Product Documentation, and 3D Printing and Rapid Prototyping.

“The combination of CATI and MCAD creates one of the leading distributors of 3D software and printers, and we are thrilled we could provide the financing to help bring the companies together” said TCF Capital Funding Senior Vice President Ed Ryczek.

TCF Capital Funding provides cash flow and asset-based lending to lower middle market businesses.  National in scope, this senior leveraged lending group focuses on providing private equity sponsor-backed cash flow loans and asset-based loans to companies with less than $100 million in revenue and between $2 million and $10 million in EBITDA.
Mangrove Equity Partners, LP is a Tampa, Florida-based lower middl- market private equity firm.  Its founding principals have a 40 plus year collective reputation as effective, fair, flexible, and honorable partners to company owners and managers.  From a captive equity fund, Mangrove sponsors owners and operators in management buy-outs, management buy-ins, majority recapitalizations, family succession recaps, and industry consolidations.

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