AWC Completes Equity Investment in Medway Holdings, LLC April 03, 2015
American Working Capital (“AWC") has made an equity investment to facilitate the majority recapitalization of Medway Holdings, LLC (“Medway”) in partnership with Merit Capital Partners and Richard Moore, the Company’s CEO. Mr. Moore will continue to serve in his current role as President and CEO. AWC provided preferred equity for this investment and will work closely with Rick Moore on operations and business strategy and serve on the Company’s board of directors. Operating from a wholly-owned hangar at Gwinnett County Airport outside of Atlanta, GA, Medway is a provider of fixed-wing medical air ambulance services. Since 1987, Medway has coordinated over 12,000 transports worldwide for commercial insurers, foreign embassies, brokers, individuals, hospitals, corporations and government entities. Medway’s team of over 35 full-time professionals has extensive experience with critical care transport, air medical evacuations, and neo-natal transport.
Richard Moore, President & CEO of Medway stated, “We are excited to be partnering with such strong capital partners as Merit and AWC. The growth investment will provide Medway with the necessary resources to continue Medway’s strong growth while allowing us to maintain our commitment to being the number one choice in air ambulance services”
“We are excited to partner with Rick Moore and his management team. They’ve built an exceptional Company, and the combined efforts of AWC, Merit, and Company Management should allow for a significant expansion of Medway’s operations” stated Bryce May, a founding partner of AWC.
About American Working Capital American Working Capital is a merchant banking firm dedicated to partnering with privately-held middle market companies. Headquartered in Chicago, with offices in New York, Boston and Atlanta, AWC is focused exclusively on providing expert advisory services and equity and structured equity capital to address ownership transition and growth capital needs. We invest across a range of industries including: business services, government services, distribution, transportation and logistics, healthcare, and specialty manufacturing. The Medway transaction represents AWC’s third principal investment in the past six months.