Art's Way Manufacturing Co., Inc. has announced that Alumni Capital LP has made a minority investment in the Company to support Art's Way's strategic direction in being a leading manufacturer for the diversified forage and livestock producers. The agreement includes purchases of stock at the discretion of Art's Way in an aggregate amount of $3,000,000. McConnell Legacy Investments LLC will continue
to be the largest shareholder.
Art's Way's board of directors and current corporate structure will remain the same including CEO, David King. King states that, "This investment will support our efforts in bringing on more needed capital equipment for improving plant efficiency and product quality such as a CNC break press, finished goods lift and high-def plasma. Adding additional staff to bring new innovative products to market faster will also be a priority. Alumni Capital's investment
will significantly speed up those efforts." The proceeds are expected to be used for general corporate expenses, working capital, acquisitions of assets, businesses or operations.
Alumni Capital Management is a millennial alternative investment manager consisting of both alumni and students from various schools throughout the U.S.
"We are pleased to successfully complete our investment with Art's Way Manufacturing," says Ashkan Mapar, General Partner and Portfolio Manager of Alumni Capital. "Art's Way Manufacturing has been making strategic moves for the future and has potential for greater growth. We look forward to their success and working with David along with the rest of his team."
A detailed description of the investment is set forth in the Companies Current Report on Form 8-K to be filed with the SEC.
Contact: David King, CEO
712.208.8467 ext. 200
davidk@artsway.com
www.artsway.com
About Art's Way
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