HydroHoist, helmed by CEO and Cherokee member Mick Webber, used an Indian Affairs loan guarantee to continue its 54-year history of manufacturing, selling, and servicing boatlifts, power pedestals, and other marine-related products.
Henry Rutter, the founder of HydroHoist, patented the hydro-pneumatic system of lifting boats in 1964. It became the original boat lift manufactured and marketed by HydroHoist.
Date of Commitment: February 2013
Type of Service: Loan Guarantee
Lender: BancFirst, Claremore, OK
Borrower: MCW Acquisitions LLC
Project: Acquisition of HydroHoist Marine Group, Inc. and other debt obligations
Financing Amount: $6,500,000.00
Location: Claremore, OK
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Division of Capital Investment
MIB-4138, 1849 C Street NW, mail stop 4132
Washington, DC 20240
Washington, DC 20240
