Essex Capital Group, Inc., announced the firm recently arranged a $10 million debt capital raise for Atio USA, LLC, a startup aluminum alloy manufacturer based in Clewiston, FL ("Atio" or the "Company"). When operational, the Company will produce aluminium alloy utilizing recycled aluminium scrap to produce high quality special alloys to satisfy expanding demand across the world.
After experiencing the typical capital formation frustrations facing startup enterprises in the United States, the 100% foreign-owned Atio hired Essex to raise the debt component of the new capitalization.
The Company's principals had contributed a substantial equity investment in the Company, funding startup expenses and the purchase of a majority of the needed equipment to operate the plant. More capital was needed, however, to fund additional equipment, shipping, installation as well as other startup working capital. Essex found a solution for the company that accomplished management's objective of term debt at a low cost and extended amortization. With this new capital in place, Atio expects to be fully operational within 6 months.
Gino Brenzini, Atio USA COO, commented, "Rob...on behalf of my partners, please accept our most sincere gratitude for your proactive, consistent and always uplifting services. Between you and Bob, we felt well guided and...Essex delivered on its promises. We are very grateful for all you have done and look forward to celebrating our successes with you, and to continue using your excellent services in the future."
Essex Capital acted as the Company's exclusive advisor in this transaction.
Essex Capital Group, Inc. is a Tampa, Florida-based corporate finance firm serving small and middle market privately-held companies located throughout the United States. With extensive capital markets experience, Essex provides creative solutions to businesses in need of financial restructuring. Typical advisory services include balance sheet recapitalizations with senior and subordinated debt. Since inception in 2003, Essex has successfully raised in excess of $600 million for 120+ corporate finance clients.