American Working Capital, LLC announces the launch of the OT 1 Investco, LLC, targeted to change of control and growth capital investments in the lower middle market of USA based corporations.
CHICAGO, IL, May 14, 2018 /24-7PressRelease/ — American Working Capital, LLC (“AWC”) is pleased to announce the launch of the OT 1 Investco, LLC (the “Fund”), targeted to change of control and growth capital investments in the lower middle market of USA based corporations. The Fund will focus on providing mezzanine debt and equity to companies with a minimum of USD $30 million in revenue and USD $5 million in EBITDA operating primarily in specialty manufacturing, business services, distribution, healthcare and consumer focused markets.
OT 1 Investco, LLC is a co-investment platform formed by Air Tractor, Inc. of Olney, Texas and AWC. Founded in 1972, Air Tractor, Inc. is a leading manufacturer of purpose-built aircraft for agricultural, firefighting and other utility applications. Since 2008, Air Tractor, Inc. has featured an employee stock ownership plan (“ESOP”) benefiting approximately 300 employee-owners. OT 1 Investco, LLC will make use of both ESOP and non-ESOP investment structures.
Since 2008, and with predecessor organizations dating back to 1985, the American Working Capital, LLC team has served as an advisor and capital provider to the closely-held company market with a focus on select industries and also a specialty advising on the introduction of Employee Stock Ownership Plans (“ESOP’s”) as a tax advantaged ownership transition tool. The members of the investment team average more than 18 years working together. Headquartered in Chicago, IL AWC also operates with offices in New York and Boston.
AWC founder Richard “Dick” May commented that “OT 1 Investco represents an exciting path forward for a mature, successful ESOP company seeking competitive investment returns to benefit its ESOP shareholders. Air Tractor has executed with confidence and competence for over forty years in a demanding marketplace. We are eager to help them deploy capital in a thoughtful manner that supports their mission, and we are proud that they have entrusted their capital to us.”
John Kober, a Partner at the law firm Morgan, Lewis, Bockius was instrumental in helping to launch OT 1 Investco. He commented that “the success of the management and employees of Air Tractor have created an investment platform and a model for others to follow. In selecting American Working Capital to serve as their capital deployment partners, Air Tractor has chosen a veteran and expert team to guide the process.”
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