Acquisition and Financing: American Sensor Technologies
Acquisition of Macrosensor division of Howard A. Schaevitz Technologies
Acquisition and Growth Capital financing provided by Main Street Mezzanine
Client and Buyer: American Sensor Technologies
American Sensor Technologies (“AST”), based in Mt. Olive NJ specializes in manufacturing products incorporating their proprietary technologies for use in high performance, harsh, and extreme environments, such as high corrosion, high and low temperatures, and toxic and hazardous materials settings. AST’s products serve several industries, including marine and offshore oil and gas; energy and power generation; industrial controls; aerospace and defense; and industrial and commercial transportation.
Seller: Howard A. Schaevitz – Macrosensor Division
Howard A. Schaevitz Technologies (now Allilance Sensors Group, a division of HG Schaevitz LLC) developed a line of linear motion actuators and position sensors sold through their Macrosensor division. Macrosensor was deemed non-core and AST was interested in acquiring the business to expand their product line.
Mezzanine Financing was arranged to finance the deal through Main Street Capital, a private credit and private equity firm based in Houston, Texas.
We worked as a team to advise AST on the acquisition of Macrosensor and arrange the financing for the acquisition. It takes a multi-disciplinary approach to close and finance a deal.
Broker/Dealer: Glocap Advisors
Completion: June 2005