NEW YORK — February 28, 201 3— Praesidian Capital (the Firm), a leading provider of senior and subordinated debt for small and mid-sized companies, announced today it led a $22.8 million senior debt investment in Mission Critical Electronics, Inc. (MCE), a portfolio company of Evolve Capital, Ltd., to recapitalize the business.
Under the Kussmaul and Newmar brand names, MCE is a leading manufacturer of specialized electronic products for the emergency/specialty vehicle, marine and telecommunications industries.
Praesidian took the extra time to listen and fully understand our goals for MCE. said Ryan Shultz, Partner of Evolve Capital. This new partnership will provide the flexibility we need to continue executing on our long-term initiatives.
Glenn Harrison, Partner of Praesidian Capital, commented that MCE is a compelling company offering technology that is critical in todays electronic world. We are pleased to team with Evolve to support MCEs success.
About Mission Control Electronics, Inc.
Mission Critical Electronics Inc. represents a platform of distinctive brands and products focusing on industrial electronic and electrical applications where durability, reliability, and performance in hostile environments is essential. A focus on critical system applications in commercial marine vessels, telecommunications and emergency vehicles has resulted in a unique offering of high -value products and well-respected brands in the companys target markets. MCE produces more than 900 different products in facilities located in Santa Ana, Calif., and West Sayville, N.Y. The company, which employs over 100 people, holds a market leadership position for the majority of its largest product categories. For more information, please visit www.mission-critical-electronics.com.
About Evolve Capital
Launched in 2005, Evolve Capital is a private equity firm focused exclusively on investing in entrepreneurial businesses. Evolve provides business owners with liquidity up front and also upon exit through their retained equity stake. In between, Evolve provides professional management and a strong partnership, with a focus on positioning each of its portfolio companies to maximize value upon exit. For more information, visit www.evolvecapital.com.
About Praesidian Capital
Praesidian Capital partners with small and mid-sized businesses by providing private debt capital. With a focus on its core competency in mezzanine financing, Praesidian invests in established, historically profitable companies often in connection with a management/leveraged buyout, recapitalization or refinancing. Based in New York City, Praesidian manages more than $700 million in committed capital. For more information, please visit www.praesidian.com.
Contact: Rivian Bell
The Abernathy MacGregor Group