ATLANTA, Jan. 9, 2024 — Mensura Capital, LLC (“Mensura”) today announced that it advised Rapid Prep, LLC (“Rapid Prep” or the “Company”) on its investment from Source Capital, LLC (“Source Capital”). Terms of the transaction were not disclosed.
Rapid Prep (est. 2006), is a full-service provider of equipment rental and sales focused on the essential surface preparation and environmental needs of the nation’s industrial, maritime and defense industries. The Company provides a compelling customer value supported by its highly trained and experienced staff, the highest quality equipment in the industry, and its fabrication and manufacturing capabilities, backed by 24-hour service. Rapid Prep is strategically located in major maritime, navy and industrial centers, including its headquarters in North Kingstown, RI; Suffolk, VA; El Cajon, CA; and Lakewood, WA.
Coupling the Company’s customer service-oriented business model with Source Capital’s capital and expertise, management targets transformative growth, organically and through strategic acquisitions.
Source Capital is an Atlanta, GA based private investment firm that provides flexible equity and debt capital to middle market companies. The firm has a value-added investing approach that brings (i) patient capital focused on long-term value creation; (ii) collaborative partnerships with management teams and founders; and (iii) strategic and operational resources to its portfolio companies. Source Capital’s investment strategy targets healthy growing companies seeking a hands-on, growth-oriented partner.
Mensura is an investment bank dedicated to maritime industries and the extended supply chain, providing complete strategic M&A sell-side representation. Mensura is singular in its client-focused and strategic approach, deploying expertise and skill in designing and implementing processes with a high rate of success ushering in both transformational opportunities and wealth for its clients. Mensura adheres to a philosophy “measured risk” (Latin: Mensura Sortis), better assuring that value is achieved, while reducing transactional risks through tightly managed and coordinated processes. Mensura is entirely distinguished from the broad, commodity-like market approach dominating the investment banking industry.
Hinckley, Allen & Snyder LLP provided legal counsel to Rapid Prep. King & Spalding LLP provided legal counsel to Source Capital.
Securities transactions are made through Mensura Securities, LLC, a registered broker-dealer and member of FINRA and SIPC. For more information, visit www.mensuracapital.com.
Contact: Alex Graham [email protected]
SOURCE Mensura Capital
