Advantage Capital Invests in MeltBlown Technologies, Supporting Economic Growth in Rural Georgia
SANDERSVILLE, Ga.--(BUSINESS WIRE)--Nov 4, 2019--
Advantage Capital today announced an investment in Global Environmental Enterprises, LLC (d.b.a. MeltBlown Technologies), a leading manufacturer of industrial absorbents. The investment was made through the GARJA program and supports the company’s anticipated growth while adding over a half-dozen jobs in the near term.
MeltBlown produces premium polypropylene oil and chemical sorbents that are primarily used in spill control and cleanup, including in large-scale open water environmental cleanup initiatives such as after an oil spill. The company largely sells to safety, environmental, industrial and janitorial distributors.
“This investment will allow us to purchase new equipment for our production line and expand our operations,” said MeltBlown’s president Derek Yurgaitis. “I’m thrilled to have the opportunity to grow our company and bring much-needed jobs to the community of Sandersville.”
Sandersville faces similar issues that confront other towns in rural Georgia. Over the past year, the town has seen negative job growth leading to an unemployment rate of 1.5 times the national average, and over two-thirds of the population currently lives under the poverty line.
The GARJA program is aimed at encouraging investments in businesses such as MeltBlown to help reverse the economic decline in rural parts of the state.
“It is great to see the GARJA program at work helping to bring new investment dollars to our area,” said State Representative Mack Jackson (D-Sandersville). “We have a wonderful community here, but we want to see the local economy grow. Part of that means making sure people have jobs that allow them to support their families.”
“We have seen great results through our participation in the GARJA program, and we are excited to continue working with rapidly growing companies such as MeltBlown,” said Abhi Chandrasekhara of Advantage Capital. “We customized a financing solution for the company to position it for future growth potential. We are excited to continue investing across the state to help strengthen local economies and grow jobs in rural communities.”
About Advantage Capital
Advantage Capital provides financing to established and emerging companies located in communities underserved by conventional sources of capital. Since 1992, the firm has invested more than $3 billion in companies from a diverse array of industry sectors and has helped support more than 50,000 jobs. Learn more at www.advantagecap.com, or via Twitter or LinkedIn.
About MeltBlown Technologies
MeltBlown Technologies is based in Sandersville, Georgia. Its philosophies of partnership and strategic distribution help develop relationships that pull cost from the channel and emphasize solving critical business issues for customers. MBT manufactures the highest quality spill control products in the USA.
Advantage Capital is an investment adviser registered under the Investment Advisers Act of 1940. Registration does not imply a certain level of skill or training. The information in this release is not intended to be an advertisement concerning investment advisory services or an offer to buy or sell securities of any type.
The investments and portfolio companies referenced in this release represent only a sample of companies that have received investment capital from Advantage Capital-related entities. For a complete list of such companies, please see our website at advantagecap.com. It should not be assumed that recommendations made in the future will be profitable or will equal the performance of the securities highlighted herein or contained in any other information provided by Advantage Capital. Past performance is no guarantee of future results.
View source version on businesswire.com:https://www.businesswire.com/news/home/20191104005793/en/
CONTACT: Advantage Capital
Donya Hengehold, Director of Communications
KEYWORD: GEORGIA UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: CHEMICALS/PLASTICS PROFESSIONAL SERVICES MANUFACTURING FINANCE
SOURCE: Advantage Capital
Copyright Business Wire 2019.
PUB: 11/04/2019 01:05 PM/DISC: 11/04/2019 01:05 PM