Established in Epping, North Dakota, MonDak is a sanitary company specializing in the manufactures, delivers, and rents out portable toilets in the region. It also recently ventured into selling and renting out portable toilets and trailers. However, funding these expanded operations require finances and this explains why the firm engaged Madison Street Capital as their exclusive financial advisor in a capitalization move in 2018 fourth quarter. The advisor, in turn, arranged for the advancement of a $3.2MM debt facility to the portable toilets company by North Avenue Capital.
Making the deal public
The deal was made public by Madison street capital chief executive officer Charles Botchway. He added that the deal was brought to a home run by a financial strategy and capital needs specialist team led by Madison’s senior managing director, Lester Rodgers on one hand and Mondak’s Rick, Barb, and Kathy on the other. In coming up with debt amount, Rodgers mentions that his team started by evaluating MonDak portables and identifying its capital needs.
The use of the debt facility
the birth of MonDak and its eventual baby steps were inspired and supported by the burgeoning oil fields in the upper Mid-west region. The establishment of different exploration fields bought about the need for washrooms for their workers that MonDak founders sought to exploit by renting out portable loos to these largely temporary and semi-permanent filed operations. However, the company has witnessed a surge in demand for their products and services in the region.
Apart from the oil fields, the company now advances these services to different social gatherings like weddings, concerts and even community events. By raising this capital, MonDak Portables hopes to address this rising demand and introduce such newer services as handicap toilets, hand-washing stations and comfort stations to this market.
About Madison Street capital
Madison is an internationally recognized investment banking firm that specializes in the delivery of corporate management and financial advisory services. Its key strengths lie in offering mergers and acquisition expertise, financial evaluation and opinions, capital restructuring, and the valuation of the public and privately held enterprises. Riding on its commitment to integrity, leadership, and excellent service delivery, Madison Street Capital has morphed from a Chicago based firm to a global outfit with offices in North Africa and Asia.
Far from helping companies generate capital and restructure their management for effective leadership, Madison Street Capital plays different community uplifting roles. For instance, the firm is continually publishing trends as well as market forecasts that go a long way in advising the business community. More importantly, it is actively involved in uplifting the community through philanthropy and support to different charitable courses like contributing to different disaster relief efforts through the provision of financial aid to the affected.
Visit http://madisonstreetcapital.org/ to learn more.