TORONTO, January 28, 2015 – Cranson Capital Solutions (“Cranson Capital”) is pleased to announce that it has successfully arranged a $6,450,000 financing for Moloney Electric Inc. (“Moloney”), a prominent distribution transformer manufacturer located in Ontario with foreign ownership based in India. Cranson Capital ran a process to help identify the ideal financing partner for Moloney’s current situation. FGI Finance (“FGI”), based out of New York, was selected because of their understanding of the business and their ability to finance a foreign owned subsidiary with international customers. FGI provided Moloney with $6,000,000 in revolving credit and $450,000 in the form of a term loan to refinance existing debt and help the company execute their growth strategy.
Moloney entered the market over 100 years ago and, in the process, built the foundation for becoming a leading industry player. Moloney builds customized transformers, offering a solution for essentially any of their customer’s unique problems. They focus on servicing lower volume but higher complexity customers, who the larger players in the market are not able to serve. Furthermore, with the recent increase in demand for environmentally friendly solutions, Moloney has established a unique repair and refurbishment program which offers their customers solutions to protect the environment, reduce waste and capital costs.
Moloney has put an extensive long term growth strategy in play. The key components of this strategy include further penetration into the U.S market and expanding into new markets in the Caribbean. They are also working towards a competitive cost structure to help drive their sales growth.
“Moloney’s platform has tremendous growth potential and we believe that the partnership with FGI will help them further achieve their long-term strategic and financial goals,” said Devon Cranson, President at Cranson Capital Solutions. “We wish Moloney great success and look forward to working with them again in the future,” he added.
About Moloney Electric Inc.
Moloney Electric Inc. is the only transformer manufacturer in North America that can boast of having provided cost effective solutions for 1000s of different applications for over 100 years. They offer a unique combination of custom design experience, highly skilled engineering staff and precision equipment that enables them to build transformers that meet virtually any need their customers may have. Moloney Electric Inc. has three ISO registered manufacturing plants in North America. The quality of Moloney’s products is an extremely important factor. It is through the implementation of the company’s Quality Assurance Program that they are able to confidently offer their warranty to their consumers.
About Cranson Capital
Cranson Capital is a boutique investment banking firm which focuses on providing financial and advisory services to small to medium sized growth businesses. The business consists of two divisions; Cranson Capital Solutions and Cranson Capital Securities, both of which offer unique services to support our entrepreneurs and investors. Cranson Capital Solutions is a corporate finance advisory firm which focuses on finding the right financing solutions for our entrepreneurs. Cranson Capital Securities is registered with the Ontario Securities Commission as an Exempt Market Dealer and specializes in raising capital from accredited investors for private placements in real estate developments, technology start-ups and high growth companies. For more information visit: www.cransoncapital.com.