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.
The prospective buyer did not have the necessary capital to complete the purchase.
Working with the primary lending partners, MGCC provided the additional funding to complete the acquisition.
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.