Advantage Capital, a venture capital, impact investor and private equity firm, announced this week a $2.5 million investment in Lockers Manufacturing to provide the company the capital required to complete facility upgrades, allowing it to onshore production and bring 60 new jobs to the area.

“Our growth since founding the company in 2014 has been tremendous. This investment is helping to serve our immediate expansion needs as well as position our business well to grow our workforce and bring employment opportunities to Batesville,” said Keith Dunham, CEO of Lockers Manufacturing.

The company worked with the Mississippi Development Authority as well as the Panola Partnership to select and purchase a 62,000 square foot facility in Batesville to expand its production. Advantage Capital’s financing—made in connection with the Mississippi Small Business Investment Company Act (MSBIC) program—helped provide capital to complete the facility plus position the company to quickly onboard and support new production employees at the Batesville location.

“Lockers Manufacturing is a great example of what we aimed to achieve with the MSBIC program – facilitating private investment capital into businesses in distressed communities. In particular, we want to drive capital to those companies that can create and maintain quality jobs that will enhance the quality of life for Mississippians, especially our constituents of District 11,” said Mississippi State Representative Lataisha Jackson.

The MSBIC program, passed in 2013, is designed to attract capital investments to qualified small businesses in the state. The program has brought much-needed investment to Mississippi businesses such as Lockers Manufacturing to promote growth and stimulate local economies.  

Since 2013, Lockers Manufacturing has been a leading producer of cold rolled steel lockers and locker components for public and private schools, hospitals, warehouses and military installations. The company also manufactures computer cabinets, storage cabinets and commercial shelving.

“We have worked with many companies throughout Mississippi that are ready for growth but can’t find flexible financing,” said Philip Ruppel, Senior Vice President, Advantage Capital.  “We are thrilled to continue our work in Mississippi and are looking to help more companies such as Lockers Manufacturing achieve their growth potential through slow, patient capital. We are truly excited to see what this high-growth company is able to achieve