Raleigh-based Dogwood Equity (www.dogwoodequity.com) has provided $4 million in mezzanine financing to support Turkington Industries, Inc.'s acquisition of APV Baker-Goldsboro in a combination of senior debt, subordinated debt and equity. United Kingdom-based Turkington Industries will use the funds to acquire all the assets of the APV Baker-Goldsboro business from Invensys. Turkington's newly acquired entity, Goldsboro Baking, Inc., will continue operating out of its facility in Goldsboro, NC, where it supplies unit machines and process systems for the confectionary and bakery sectors. The acquisition provides domestic manufacturing capacity and distribution for Turkington.
Dogwood Equity manages the North Carolina Economic Opportunities Fund, a licensed Small Business Investment Company with $74 million available for investment in high-growth businesses. Dogwood Equity invests primarily in companies that are located in the rural and smaller metropolitan areas of North Carolina and will consider investment opportunities in growth, expansion and late stage manufacturing, technology, service and distribution companies.
Dogwood Equity is a CED member.