Young America Capital Announces Placement of Convertible Debt
Provides crucial working capital to fund Vessel Metrics LLC growth
November 20, 2014
New York, NY -- Young America Capital ( www.yacapital.com ) today announced that it has secured an undisclosed amount of convertible promissory note financing for Vessel Metrics, LLC from Ethos Opportunity Fund I LLC. Vessel Metrics ("the Company") offers a web-based service that enables boat owners and their contractors to be informed about the equipment and maintenance requirements of the boat and its on-board systems. The Company intends to use the net proceeds for working capital to fund future growth and complete debt financing. Stanley Tobin, Senior Director at Young America Capital, was the lead investment banker responsible for facilitating this successful transaction.
About Young America Capital
Founded in 2000, the company is a New York -based FINRA/SEC licensed independent investment banking and advisory firm which provides capital raising, M&A advisory and fund marketing services for companies and alternative investment fund managers. The company is comprised of a diverse group of investment banking professionals with particularly deep experience in Maritime & Infrastructure, Cleantech, Telecomm, Media and Technology; Healthcare & Life Sciences; Consumer Products and Services, Real Estate and Latin America. www.yacapital.com
About Vessel Metrics, LLC
Vessel Metrics, LLC offers a Web-based service that enables boat owners and their contractors to be informed about the equipment and maintenance requirements of the boat and its on-board systems. It offers Vessel Vanguard, a Web-based subscription service that organizes manuals, maintenance schedules, and warranty requirements for on-board equipment systems to create a digital boat profile. The company also provides a dashboard view of the maintenance status of listed equipment and on-board systems. Vessel Metrics, LLC was incorporated in 2009 and is based in Palm Beach, Florida.
About Ethos Capital Partners
Ethos Capital Partners is a private equity firm specializing in growth equity, buyouts acceleration capital, working capital expansion, refinancing, recapitalizations, and opportunistic capital. The firm seeks to invest in early stage, mature businesses, and turnaround stages. It typically invests in service industries, IP-enabled businesses, and asset heavy investments. The firm invests in SaaS, disruptive technology and healthcare and hospitality software within IP enabled businesses; and in real estate, franchises, and opportunistic credit within asset heavy investments. Ethos Capital Partners is based in Atlanta, Georgia.