Praesidian Capital has invested $11.25m in first lien debt and $500,000 alongside the sponsor, to support Evolve Capital’s investment in Meheen Manufacturing, a provider of carbonated beverage bottling machines.
Praesidian Capital partner Glenn Harrison said, "Meheen holds a strong position in the growing craft brewing industry and has partners in place to continue its growth."
Meheen Manufacturing’s bottling machines fill and cap glass and aluminum bottles.
The company’s founder, engineer and former brewer Dave Meheen designed the ‘Merlin’ bottling machine for the craft brewing industry and has expanded it into other industries as well.
The Merlin uses computer controls to manage product pressure, filling and foaming.