SPRINGDALE, Ark.--(BUSINESS WIRE)--NanoMech, Inc., a specialty materials company with patented technology in the field of nano-engineered lubricants, chemistries, coatings, and finishes, announced today the completion of a $7M non-convertible senior secured debt and equity financing with Michaelson Capital Special Finance Fund II, L.P.
"We continue to strengthen our balance sheet in order to position NanoMech for sustainable long-term growth," said James M. Phillips, chairman and CEO of NanoMech Industries. "This financing provides our company with greater financial flexibility to address the growing demand for our advanced lubricants and coatings, especially in the energy, transportation, industrial and retail sectors."
“NanoMech intends to use the financing to repay certain debt, and as working capital to accelerate the growth of our proprietary nanoscale engineering and manufacturing technologies,” Phillips said. “NanoMech is experiencing wide-scale adoption and recurring use of our superior products by iconic multi-national and innovative corporations desiring to take advantage of our very disruptive technology and easy to implement products.”
“As demonstrated by their high-quality product range, remarkable growth, and expanding set of blue-chip customers, NanoMech is clearly a leader in solving revenue-rich problems related to friction, wear, and corrosion, increasing durability, efficiency, performance, and sustainability like no other competitor. We are thrilled to work with the NanoMech team as they scale their business,” said Michaelson Capital CEO Larry Jones. "Michaelson Capital has a long history of providing financing to disruptive entrepreneurial technology companies where we believe we can add value to help them grow. Our debt plus equity structure generates strong alignment with our portfolio company partners."
ABOUT NANOMECH INDUSTRIES
NanoMech, an ISO 9001:2015 certified manufacturer, is focused on patented platform nanomanufacturing technologies that offer a broad range of high-value market opportunities. The operating vision of NanoMech is to be the highest quality world leader in nanomanufacturing innovation with swift product development and an emphasis on deep science-based platform technologies that are scalable for efficient mass production. The company’s heavily patented multi-functional products utilize a very robust macro-molecular based invention(s) of oil and grease lubricants, chemistries, coatings/finishes in metals and textiles that has achieved iconic customer-validated consumer and industrial applications in high-level energy manufacturing, machining, marine, racing, heavy-duty trucking, automotive, aerospace, electronic vehicles, industrial manufacturing and strategic military applications. For more information please visit www.NanoMech.com.
ABOUT MICHAELSON CAPITAL PARTNERS
Michaelson Capital provides customized growth financing to entrepreneur-led technology companies in sectors where it has domain expertise, relationships, and experience to add value. It focuses on disruptive high-quality companies attempting to change industries and make the world a better place. For more information, please visit www.michaelsoncapital.com