February 19, 2016 – Bravaldo Capital Advisors, Inc. (“BCA”) is pleased to announce the successful recapitalization of its clients ClassOne Equipment, Inc. and ClassOne Technology, Inc., collectively “ClassOne”, by Salem Investment Partners. ClassOne Equipment Inc. is an Atlanta, Georgia based supplier of high-quality, refurbished semiconductor equipment, and ClassOne Technology Inc. is a Kalispell, Montana based manufacturer of advanced wet-chemical process tools. Both companies serve cost-sensitive emerging markets, such as MEMS, sensors, LEDs, optoelectronics, radio frequencies, and other emerging technologies. BCA arranged senior and subordinated debt financing which was used to pay off existing indebtedness and provide liquidity for working capital and growth.
Byron Exarcos, President and Founder of ClassOne, noted “The Company had initiated discussions with lenders prior to engaging with Bravaldo Capital Advisors. BCA implemented a process to find a partner, which also freed up management’s time to concentrate on the business, and was very successful in locating the right partner that believes in our company and its growth potential. Salem Investment Partners is truly a wonderful partner.”
Meredith Jolly, Vice President at Salem, remarked “We were drawn to Byron’s passion and visionary spirit to spot a market opportunity and to attract a strong management team to execute on his vision.”
Don Bravaldo, President of Bravaldo Capital Advisors, added “We are very pleased to have worked with a great client with a growth-oriented, entrepreneurial management team. This helped tremendously in our ability to succeed for our client in sourcing the funding to complete this transaction. The new partnership between management and Salem will provide access to capital for continued growth of ClassOne.”
ClassOne Equipment, Inc. (www.classoneequipment.com) and ClassOne Technology, Inc. (www.classone.com), collectively ClassOne, are based in Atlanta, Georgia and Kalispell, Montana, respectively. Founded in 2002, ClassOne is a leading supplier of high-quality, refurbished semiconductor equipment and a manufacturer of advanced wet-chemical process equipment, including electroplating tools, spray solvent tools, and spin rinse dryers.
Salem Investment Partners (www.salemip.com) was founded in 1999 and is based in Winston-Salem, North Carolina with an additional office in Charlotte, North Carolina. Salem specializes in debt and equity investments in privately-held, middle market businesses located in the Mid-Atlantic regions and Southeast United States, with a focus on business services, light manufacturing, consumer products, wholesale distribution, and recurring revenue business models.