Power Gen manufactures precision-machined fasteners for power generation and oil and gas applications.
After an acquisition created a bottleneck in production and a backlog in orders, Power Gen needed funding to buy new equipment to speed up manufacturing.
An initial investment made in connection with the Nevada New Markets Jobs Act and federal New Markets Tax Credit programs provided the company with working capital to purchase inventory and retain employees. A subsequent investment supported higher than anticipated growth and allowed the company to finance equipment purchases that would help reduce bottlenecks and improve lead time.
Investment Summary
Location
Nevada
Investment
$7,200,000
Type
Debt
Impact
Jobs Supported
200