Leading silver-zinc, rechargeable battery manufacturer raises growth capital from MidCap Financial and Apollo Investment Corporation
Mooreland Partners (www.moorelandpartners.com) the leading independent investment bank providing M&A and private capital advisory services to growth sectors of the economy, today announced that it acted as the exclusive financial advisor to ZPower on securing a $25 million growth loan from MidCap Financial and Apollo Investment Corporation (NASDAQ: AINV).
“ZPower is a leading innovator in the area of rechargeable microbatteries which are used in a variety of consumer and medical applications. The Company’s strong growth, intellectual property, and management capabilities made it an ideal candidate for a growth loan,” said Phil Kwun, Managing Director at Mooreland Partners. “Through key additions to its senior team in the last year, Mooreland has created a strong capability to advise clients on the private debt market for growth loans at a time when companies are seeking less dilutive ways to finance predictable growth,” added Stephen Schweich, Managing Director at Mooreland Partners. Mooreland was able to complete this transaction in about 90 days.
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