Advantage Capital Invests $2.5 Million to Support Ohio-Based UMECC, Driving Growth in Steel Production Equipment Industry

Investment made in connection with the Ohio and Federal New Markets Tax Credit programs to support growth for Ohio-based steel mill equipment and technical solution provider

Advantage Capital, a leading impact investment firm, today announced a $2.5 million investment to support entrepreneur Adam Salmen in acquiring a controlling stake in the United Metallurgical Equipment Companies of Cincinnati (UMECC), based in West Chester, Ohio.

UMECC specializes in providing a variety of quality equipment for integrated steel mills, mini mills, stainless and aluminum mills, and iron ore mines in North America. The investment will enable the company to expand its operations in Ohio, enhancing service to domestic steel manufacturers.

“This investment has been instrumental in helping us grow our presence here in Ohio and allowing us to support an industry essential to America—steel,” said Adam Salmen, Group CEO at UMECC. “I’m proud of what we’re building and look forward to expanding our operations while fostering growth in our local community.”

The financing was made in connection with the Federal and Ohio New Markets Tax Credit (NMTC) programs, which aim to attract and encourage investment in Ohio’s low-income communities. By encouraging private investment, the programs help fill the financing gap that exists for many businesses in underserved communities helping to catalyze job growth and economic development in the places that need it most.

"We’re excited to partner with UMECC and support an Ohio-based company that plays a critical role in supplying essential equipment to one of America’s cornerstone industries,” said Joe Henderson, Senior Vice President, Advantage Capital. “UMECC’s commitment to quality and innovation has positioned it for significant growth, and we look forward to seeing this partnership support its continued success.”

UMECC is a trusted supplier to some of the world’s largest steel mills, providing a "one-stop shop" technical solution that streamlines the sourcing process with a single point of contact. The company offers advanced engineering expertise to custom design equipment for existing steel production lines and has the capability to design modifications and upgrades that keep manufacturing operations running smoothly.

About Advantage Capital

Advantage Capital is a leading impact investment firm with an emphasis on driving capital to underserved areas. The firm provides flexible financing to growth-ready entrepreneurs and industries located in communities that often lack access to conventional sources of capital. Since 1992, the firm has invested more than $4 billion in more than 900 companies to support more than 70,000 quality jobs. The firm also invests with intention in affordable housing developments and renewable energy solutions to grow economies and communities. Learn more at Advantagecap.com.

About UMECC

Metallurgical Equipment Company of Cincinnati (UMECC) was founded nearly 30 years ago with the goal to provide a wide range of production equipment to metallurgical production plants across North America for its capital upgrades (Capex) and maintenance & repair (MRO) projects. The company provides a comprehensive “one-stop shop technical solution” by simplifying the sourcing process to a single point of contact. Whether the project is large or small, UMECC provides engineering capability to custom design equipment for existing steel production lines and has the proven ability to design modifications and upgrades or even reverse engineer equipment to keep steel manufacturer’s legacy lines in operation. UMECC has become a trusted supplier to many of the world’s largest steel brands because of its enduring pursuit of quality and customer service.

Advantage Capital is an Investment Adviser registered with the U.S. Securities & Exchange Commission. Such registration, however, does not imply a certain level of skill or training. This release has been prepared for informational purposes and to announce a prior event, and nothing herein should be construed as an offer of investment advisory services or as an offer to sell or a solicitation of an offer to purchase any securities or investment product. All offers of investment interests in any fund or investment vehicle managed directly or indirectly by Advantage Capital are and will be made only to qualified prospective investors pursuant to separate and definitive offering and subscription documents in accordance with applicable federal and state securities laws. Advantage Capital is an equal opportunity provider.

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