Stanton Magnetics/Tracoman Acquires Additional Funding

Stanton Magnetics and Tracoman Inc., the South Florida-based distributors of lighting and sound products, have acquired an additional $10 million in investments and securitized lending. As part of the agreement, the two companies have formed a new partnership with the funding organization Mezzanine Management (Capital) Ltd., an international investment firm based in Bermuda.

According to Arthur J. Furia, partner and managing director of the corporate and technology practice group of Holtzman, Equels and Furia, the law firm that facilitated the deal, “Stanton/Tracoman originally sought additional equity and convertible/debt funding in order to make strategic global acquisitions to further enhance their positions in the sound equipment, electronics, and intelligent lighting industries.” The agreement will allow the current management of Stanton Magnetics and Tracoman to run their operations while Mezzanine provides financial and investment expertise and valuation analysis on strategic global acquisitions. In September, Tracoman announced that it was acquiring a controlling interest in Coemar SpA, the manufacturer of automated lighting fixtures based in Castelgoffredo, Italy. Tracoman already distributes Coemar's products in the US.

Mezzanine Management (Capital) Ltd. is a publicly-held investment holding company specializing in equity investments, bridge financing, and investment banking services to publicly traded, or to-be-publicly-traded, small-cap companies. According to Gerard Cohen, principal shareholder and CEO of Stanton/Tracoman, a public offering is a long-term (three to five years) goal of the company, providing the economic climate is strong.