KODA Enterprises Group announced today the acquisition of Douglas Machines Corp. located in Clearwater, Florida. Douglas is the leading manufacturer and supplier of industrial washing and sanitizing systems for food related industries. The Company designs and manufactures a broad range of systems used in the bakery, meat, poultry, food processing, packaging and distribution industries serving many of the most recognizable names in the food preparation market.
Douglas will continue to operate with its current management at its primary location in Clearwater. “We are excited with KODA’s decision to help Douglas continue its growth” said David Ward, President of Douglas. “We looked at several potential partners and we feel KODA is the best positioned to help us achieve our goals of making Douglas even stronger in our served markets.”
The acquisition was financed with Subordinated Debt provided by Harvest Capital Credit, LLC located in New York City and Senior Term and Revolver Facilities provided by Amalgamated Bank also of New York.
According to Richard Buckanavage, President of Harvest, “We view Douglas as a great company with a great management team, and a sound investment for us. We have looked forward to closing a transaction with KODA for some time now.”
KODA Enterprises Group located in Lexington, MA is a middle market private investment firm that concentrates on companies in niche markets that have the potential to benefit from the financial strength and operational expertise KODA provides to its Portfolio Companies.
For further information contact: James Peden, Chief Operating Officer KODA Enterprises Group 423-756-8891 email@example.com