SALT LAKE CITY, Aug. 07, 2019 (GLOBE NEWSWIRE) -- Stonehenge Community Development, LLC, today announced an investment in OTW Safety, an advanced manufacturing company that designs, engineers and supplies high-quality safety barricades for a range of industries worldwide. Stonehenge’s $500,000 New Markets Tax Credit allocation will support development of a new security barricade product by OTW, enabling the company to continue growing and to expand in a low-income community, creating nine new jobs in the process.
OTW’s barriers enhance public safety by protecting roadway crews in high-speed traffic areas, warning pilots of hazards at airports, providing direction to drivers and helping to maintain order at large public events. Their products are all made in the United States and are 100 percent recyclable.
“Stonehenge’s investment is a game changer that will not only allow us to grow now, but will also position us to remain competitive well into the future,” OTW Safety CEO Leo Stanko said. “We’re grateful that Stonehenge saw our potential and has enabled us to meet the growing demand for our products while creating jobs and supporting public safety.”
The working capital from Stonehenge will allow OTW to create a smaller, more efficient mold that will lower production costs, require fewer raw materials and result in a lighter-weight product that is easier to transport, all while maintaining a strength and quality profile that punches above its weight.
“We see this investment as an opportunity to support a small business that had a history of success but was unable to access traditional financing when it was needed,” said L’Quentus Thomas, of Stonehenge. “They are dedicated to their employees and their mission, and we are proud to help put OTW Safety on the path to an even more promising future. Through our small business loan fund, Stonehenge is proud of the growth we have provided to OTW and many small businesses throughout Utah.”
About Stonehenge Capital:
Since 1999, Stonehenge Capital (www.stonehengecapital.com) has operated at the nexus of finance and community development, providing transformational capital in underserved markets that has grown our nation’s small businesses, created jobs for hard-working families and revitalized urban and rural communities. Stonehenge Capital is not a typical finance firm – it is a thought leader in investment capital, producing strong returns for investors and impactful social returns for communities. Stonehenge Capital fosters collaboration across a team of seasoned and talented professionals, in Baton Rouge, Columbus, New York, Dallas and other locations, who leverage two decades of expertise and relationships to provide innovative financing solutions where they are most needed on a national scale.
About OTW Safety:
Since 1993, OTW Safety (www.otwsafety.com) has provided safety and security barricade systems and expertise to thousands of customers and industries worldwide. Utilizing advanced manufacturing techniques, we collectively work with our customers to create value-added solutions for challenging operating environments or regulatory requirements. Our focus on relationships extends to our manufacturing and shipping partners as well. These long-term partnerships allow us to guarantee quality and efficiency throughout all of our processes, keep costs low and pass the savings on to our customers. Compared to larger barricade suppliers we have more flexibility to adapt to unique situations and can usually offer lower prices with faster delivery.
Contact: Lindsey Hendren, lindsey@thinkhubbell.com
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