SEED Venture Finance recently provided $500,000 in financing for Jet Products LLC in East Bridgewater. The funds will be used to purchase the assets of Jet Products Inc. and to provide working capital.
The investment was made in the form of "a subordinated note with detachable warrants," according to SEED.
Jet Products Inc. delivers high-tolerance machined parts primarily for the aerospace and medical device markets.
"We are pleased with the opportunity to support Jet Product’s management as it develops its business and positions the company for continued success" said Tom Wooters, investment manager for SEED Venture Finance. "The financing of Jet Products is an example of how SEED Venture Finance’s junior capital can compliment senior financing."
SEED Venture Finance facilitated the closing of the Jet Products acquisition by funding the purchase of goodwill that the company’s senior lender would not finance.