Kansas City, MO (December 8, 2006) (AgNewsWire) MachineryLink, Inc. announced the closing of a $17.4 million equity raise to support its investment in future growth. The investment was made by several institutional investors, including October Capital, Adams Street Partners, River Cities Capital Funds, Alpha Capital Partners and a syndicate of private
investors.
MachineryLink is a specialty finance and asset management company that provides progressive combine leasing products to farmers across North America. The Company has experienced 115% annual growth since it commenced operations in 2001. At the core of its value in the marketplace is the compelling alternative of its lease products to the cost of owning increasingly costly harvesting equipment.
Scott Hazlett, President and CEO said:
“We are thrilled with the continued strong sponsorship we enjoy with our investors. This new capital provides the Company a very strong foundation upon which to quickly and aggressively execute our growth plans, and accelerate our market reach and penetration. At the core of our beliefs as a company is that we are providing an important and increasingly necessary value to the grower; this investment bolsters our capacity to execute our growth plans and deliver greater value to an ever-increasing population of customers, while positioning us to deliver a superior return to our shareholders.”