Crescent Growth Capital, LLC
Structuring project financing to incorporate tax credit equity.
  • About Us
  • Your Project
  • Our Process
  • Our People
  • Past Projects
  • Home
  • Our Locations
  • Contact Us
  • News/Blog
Browse: Home / 2014 / August / 22 / Orthman Manufacturing

Orthman Manufacturing

By Crescent Growth Capital, LLC on August 22, 2014

Orthman Manufacturing

620 East Frontier Street, Lexington, NE 68850

Orthman Manufacturing was founded by Henry Orthman in the late 1950’s as a manufacturer of conversion kits for implements and tractor brands.  From his 160-acre farm on the Platte River just north of Lexington, NE, Henry Orthman’s original conversion kits allowed farmers to keep their existing implements when they purchased a new tractor.  Over the subsequent 50 years, Orthman has become an industry leader in agricultural innovation, developing industry-standards such as the TripSaver, the Pivoting Disc Stabilizer, the Adjust-a-Rate Planter Drive, the Flex-Gang Cultivator and the Strip Tillage machine.  Today, Orthman has agreements with John Deere, Agco, and Monosem, manufacturing agricultural machinery and implements, as well as conveyors, materials bulk-handling systems and SoilMover industrial earth-moving equipment for a variety of industries.

By 2012, Orthman’s track record of consistently delivering innovative, high-quality machinery pushed market demand beyond capacity at the Platte River facility, so Orthman began working with the City of Lexington on a new plant within City Limits.  The state-of-the-art 115,000 SF manufacturing and painting facility would allow Orthman to continue its growth in the US market, and by moving into Lexington, would provide the City with 200 new jobs: 100 new and 100 existing Orthman jobs that were relocated from Platte River.  The City agreed to provide $1.25MM in TIF bonds, and a $500K Development loan to help with the $13.4MM facility.

In late 2013, Orthman engaged Crescent Growth Capital (“CGC”) to help structure and execute NMTC financing to fill the funding gap.  On August 22, 2014, CGC and Orthman closed on a stacked $10.4MM State NMTC and a $9MM Federal NMTC financing, provided by Enhanced Capital Partners and Rural Development Partners respectively, leveraged using a senior loan provided by Mutual of Omaha.

Posted in Past Projects | Tagged CDEs, Manufacturing, Nebraska, New Markets Tax Credits, State New Markets Tax Credits, Tax Credit Equity, Tax Credit Investors

« Previous Next »

Categories

  • General
  • News Articles
  • Past Projects
  • Press Releases

Warning: Invalid argument supplied for foreach() in /home/cresce8/public_html/wp-content/themes/hybrid/library/classes/widget-tags.php on line 85

Adaptive Re-use Alabama State NMTC CDEs Community Development Block Grants Cultural Economy Dallas Education Enterprise Zone Federal Historic Tax Credits Federally-Qualified Health Center Federal NMTCs Florida Fresh Foods GO Zone Healthcare/Wellness Historic Preservation Historic Rehabilitation Idaho Illinois State NMTCs Kansas Live Performance Tax Credits Logistics/Warehousing/Transport Louisiana Cultural Districts Louisiana State NMTC Manufacturing Medically-Underserved Area Nebraska Nebraska State NMTC Nevada New Markets Tax Credits New Orleans Non-profits North Carolina Oklahoma Post-Katrina Recovery Project Sponsors Public-Private Partnerships San Antonio Social Services State Historic Tax Credits State New Markets Tax Credits Tax Credit Equity Tax Credit Investors Tulsa USDA Food Desert

Resources

  • Community Development Financial Institutions Fund
  • Louisiana State Division of Historic Preservation
  • National Trust for Historic Preservation
  • New Markets Tax Credit Coalition

Archives

  • 2021
  • 2020
  • 2019
  • 2018
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011
  • 2010
  • 2009
  • 2008

New Orleans Office
201 St. Charles Avenue
Suite 4205
New Orleans, LA 70170
(504) 378-3470

Dallas Office
13355 Noel Road
Suite 1100
Dallas, TX 75240
(214) 746-5065

Copyright © 2023 Crescent Growth Capital, LLC. Web Design