SITUATION:
An employee of a South Shore wholesale distributorship of marine and other products wanted to purchase the company from its overseas owners. This purchase would keep almost four dozen jobs in Massachusetts.
CHALLENGE:
The prospective buyer did not have the necessary capital to complete the purchase.
SOLUTION:
Working with the primary lending partners, MGCC provided the additional funding to complete the acquisition.
IMPACT:
The infusion of capital allowed the prospective buyer to complete the purchase. This kept 43 jobs in the Commonwealth. With the successful acquisition, the MGCC loan was paid off.
