Praesidian invests $11.25m in carbonated beverage bottling machines maker Meheen
Praesidian Capital, an American provider of senior and subordinated debt for small and mid-sized companies, has invested $11.25m as first lien debt in Meheen Manufacturing, a US-based carbonated beverage bottling machines producer.
The company also invested $500,000 alongside the sponsor, to support private equity firm Evolve Capital's investment in Meheen Manufacturing.
Meheen offers carbonated beverage bottling machines including, Merlin to fill and cap glass and aluminum bottles.
Merlin is a bottling machine that offers bottling services by using computer controls to manage product pressure, filling and foaming.
The company also offers a tank manager to support the bottling process by controlling tank pressure, carbonation and temperature.
Meheen Manufacturing founder, engineer and former brewer Dave Meheen said: "With their support, we can build our management and sales teams and take our company to the next level."