Advantage Capital Invests $3 Million in Growing Military Aircraft Part Manufacturer Malone's CNC Machining, Inc.
Advantage Capital, a leading impact investment firm, announced today a $3 million investment in Malone's CNC Machining, Inc.?a manufacturer of replacement parts and assemblies for United States military aircrafts. The company will use the financing to support the purchase of new equipment and address working capital needs.
"This financing is critical to support our upward trajectory, and we are excited about the growth potential," said Derek Martin, President and CEO of Malone's. "We have operated in Grove for more than 30 years and are proud to provide quality manufacturing jobs to our surrounding community. Investment in Malone's is an investment in opportunity for Northeast Oklahomans."
Currently, Malone's employs 52 people, and with the increased capacity from additional machinery being purchased from Advantage Capital's investment, the company expects to add 10 more employees over the next 12 months through growth and bringing previously outsourced processes in-house.
The financing was made in connection with the Oklahoma Rural Jobs Act?a program designed to funnel investment dollars into businesses located in rural areas, defined as counties with populations of 75,000 or fewer, helping to stimulate these local economies and build communities.
"It is great to see rural Oklahoma businesses receive support through this program," said State Rep. Josh West. "These areas are oftentimes overlooked by investors, and we need to support our rural communities to ensure they are receiving the financial resources they need."
Malone's specializes in B-52, KC-135, C-130 and a variety of other military aircraft replacement components by providing a wide range of manufacturing services including assembly operations, CNC machining, shrink fitting, bonding, as well as sheet metal manufacturing and other associated machining services.
"Malone's is a great business providing an important service to our military. It is exactly the kind of company we look for when investing?a company that is ready for growth and is committed to expanding access to quality jobs in the surrounding community," said Anthony Billings, Senior Vice President, Advantage Capital.
About Advantage Capital
Advantage Capital is a leading impact investment firm with an emphasis on driving capital to underserved areas. The firm provides flexible financing to growth-ready entrepreneurs and industries located in communities that often lack access to conventional sources of capital. Since 1992, the firm has invested more than $4 billion in more than 900 companies to support more than 67,000 quality jobs. The firm also invests with intention in affordable housing developments and renewable energy solutions to grow economies and communities. Learn more at Advantagecap.com.
About Malone's
Malone's CNC Machining, Inc. is a wholly owned subsidiary of Malone's Aerospace Holdings www.MAH-USA.com , a diverse aerospace manufacturer serving both the Military and Commercial aviation markets with manufacturing locations in Grove, OK and Blossom, TX. Our portfolio of companies provides over 80 years of combined aerospace manufacturing experience. From prototype to production runs we are prepared to meet our customers' quality and delivery expectations.
Advantage Capital is an Investment Adviser registered with the U.S. Securities & Exchange Commission. Such registration, however, does not imply a certain level of skill or training. This release has been prepared for informational purposes and to announce a prior event, and nothing herein should be construed as an offer of investment advisory services or as an offer to sell or a solicitation of an offer to purchase any securities or investment product. All offers of investment interests in any fund or investment vehicle managed directly or indirectly by Advantage Capital are and will be made only to qualified prospective investors pursuant to separate and definitive offering and subscription documents in accordance with applicable federal and state securities laws. Advantage Capital is an equal opportunity provider.
Any third-party statements herein are by persons other than current clients or investors in any private fund directly or indirectly managed by Advantage Capital, and although Advantage Capital did invest cash funds in Malone's CNC Machining (Malone's) through the federal New Markets Tax Credit program, Derek Martin (President and CEO) and State Representative Josh West have not received any direct compensation, whether in cash or non-cash form, for the statements or opinions expressed herein. There are no known material conflicts of interest on the part of any third party making or expressing such statements or opinions resulting from such party's relationship with Advantage Capital or from Advantage Capital's cash investment in Vibrant or participation in any federal or state tax credit program.
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