Cascadia Capital is pleased to announce it acted as the exclusive financial advisor to McNally Industries (“McNally”), a portfolio company of Susquehanna Growth Equity (“SGE”), in securing a new debt facility led by Western Alliance Bank (“Western Alliance”). This financing solution will be used to refinance McNally’s existing facility.
Founded in 1942 and headquartered in Grantsburg, WI, McNally is a leading designer and manufacturer of precision-machined components, complex assemblies, and hydro-mechanical systems for mission-critical defense and industrial applications. The Company’s capabilities span design, test, and reverse-engineering, supporting a blue-chip customer base with an average tenure of more than 20 years, including relationships of more than 40 years with several of its largest defense and government customers. McNally is deeply embedded in customer supply chains anchored by contractual, program-of-record demand.
“Cascadia was a great partner to McNally and SGE throughout the process, and the team’s thoughtfulness was a real differentiator," said Kyle Squillario, Managing Director at Susquehanna Growth Equity. "We're pleased with the outcome and look forward to McNally's continued growth alongside the Western Alliance team.”
“Through a disciplined and competitive process, we attracted strong lender interest and delivered a financing solution that provides McNally Industries with the flexibility to continue executing on its growth strategy and delivering on its record backlog,” said Tom Mills, Head of Capital Markets at Cascadia Capital. “Following exclusivity, McNally closed on its new facility with Western Alliance in just two weeks, securing an ideal financing partner to support the company’s continued growth.”
" ["post_title"]=> string(131) "Cascadia Advises McNally Industries, a portfolio company of Susquehanna Growth Equity, on Debt Financing from Western Alliance Bank" ["post_excerpt"]=> string(0) "" ["post_status"]=> string(7) "publish" ["comment_status"]=> string(6) "closed" ["ping_status"]=> string(6) "closed" ["post_password"]=> string(0) "" ["post_name"]=> string(20) "mcnally-announcement" ["to_ping"]=> string(0) "" ["pinged"]=> string(0) "" ["post_modified"]=> string(19) "2026-09-22 11:07:54" ["post_modified_gmt"]=> string(19) "2026-09-22 18:07:54" ["post_content_filtered"]=> string(0) "" ["post_parent"]=> int(0) ["guid"]=> string(60) "https://www.cascadiacapital.com/?post_type=news&p=23110" ["menu_order"]=> int(0) ["post_type"]=> string(4) "news" ["post_mime_type"]=> string(0) "" ["comment_count"]=> string(1) "0" ["filter"]=> string(3) "raw" } [1]=> object(WP_Post)#3856 (24) { ["ID"]=> int(19741) ["post_author"]=> string(1) "1" ["post_date"]=> string(19) "2024-04-16 11:58:12" ["post_date_gmt"]=> string(19) "2024-04-16 18:58:12" ["post_content"]=> string(0) "" ["post_title"]=> string(45) "Special Aerospace Services / Godspeed Capital" ["post_excerpt"]=> string(0) "" ["post_status"]=> string(7) "publish" ["comment_status"]=> string(6) "closed" ["ping_status"]=> string(6) "closed" ["post_password"]=> string(0) "" ["post_name"]=> string(43) "special-aerospace-services-godspeed-capital" ["to_ping"]=> string(0) "" ["pinged"]=> string(0) "" ["post_modified"]=> string(19) "2026-06-17 15:02:21" ["post_modified_gmt"]=> string(19) "2026-06-17 22:02:21" ["post_content_filtered"]=> string(0) "" ["post_parent"]=> int(0) ["guid"]=> string(68) "https://www.cascadiacapital.com/?post_type=transactions&p=19741" ["menu_order"]=> int(0) ["post_type"]=> string(12) "transactions" ["post_mime_type"]=> string(0) "" ["comment_count"]=> string(1) "0" ["filter"]=> string(3) "raw" } [2]=> object(WP_Post)#3847 (24) { ["ID"]=> int(19747) ["post_author"]=> string(1) "1" ["post_date"]=> string(19) "2024-04-16 11:22:13" ["post_date_gmt"]=> string(19) "2024-04-16 18:22:13" ["post_content"]=> string(3276) "Cascadia Capital, an investment bank serving middle market clients globally, today announced that it acted as the exclusive financial advisor to Special Aerospace Services (“SAS”), an industry leader in spaceflight engineering and hardware based in Colorado, in its partnership with Godspeed Capital (“Godspeed”), a lower middle market Defense & Government services, solutions, and technology based private equity firm. Together they have formed a high-end space engineering, defense, and communications technology solutions platform designed to serve the critical needs of U.S. Defense & Intelligence Agencies, as well as commercial space customers.
“We are excited to partner with the incredible team at SAS to establish a platform capable of addressing the next generation of public and private sector space priorities,” said Doug Lake, Founder & Managing Partner at Godspeed. “Godspeed has significant expertise building and scaling technology solutions-focused platforms serving commercial as well as Intelligence and Defense customers. With CEO Heather Bulk at the helm of SAS alongside a deeply experienced leadership team including Warren Kohm as our new CFO, we are confident in the platform’s ability to become the premier provider of high-end space, missile defense, and communications technology solutions for the commercial space and defense markets.”
“I am thrilled to be leading SAS into this next phase of strategic growth and partnering with Godspeed’s experienced team to establish this important platform,” said Heather Bulk, Co-Founder and CEO of SAS. “At SAS, our team thrives on meeting the needs of our clients across the space and defense industries. As demand for critical launch services, missile defense support systems, and advanced software continues to grow, this new platform will be well positioned to provide the solutions and technical excellence the industry will require. We look forward to continuing to expand our offerings to support increasing investment within the space economy and meet the rapidly growing requirements for advanced space and defense solutions.”
“We were very proud to have advised Special Aerospace Services (“SAS”) on this historic transaction with Godspeed,” added Cascadia Managing Director, Kevin Frisch. “Since its founding in 2007, SAS has been a leading voice and resource in advising and helping clients execute their strategic and tactical goals in the pursuit of advancing space and defense technologies for some of the largest and most impactful companies in the sector. We see the partnership with Godspeed as further strengthening their mission and capabilities, and look forward to seeing their continued success working together.” “I was constantly impressed by the professionalism and dedication demonstrated by Cascadia Capital in closing this transaction,” noted Ms. Bulk. “Their strategic guidance and meticulous attention to detail were instrumental in navigating the complexities of the deal and ensuring its success.”
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Cascadia Capital, one of the nation's most active independent middle-market investment banks, announced today that Kevin Frisch has joined the firm as a Managing Director. Mr. Frisch will focus on providing M&A and corporate finance advisory to Cascadia’s clients in the Advanced Manufacturing and Aerospace, Space & Defense sectors.
“We are very excited to welcome Kevin to the Cascadia team and extend Cascadia’s focus and expertise in both Advanced Manufacturing and Aerospace, Space & Defense,” said Michael Butler, Cascadia Chairman & CEO. “These are growing and dynamic sectors, and Kevin is one of the pre-eminent bankers in the space, with deep industry relationships with both business owners and financial sponsors alike. We are looking forward to working with him to expand and complement our Industrial franchise and have him contribute his extensive knowledge in assisting Cascadia clients.”
Mr. Frisch brings to Cascadia over 25 years of investment banking experience with extensive expertise in Mergers and Acquisition transactions, as well as private and public debt and equity capital raising. Most recently, he was a Managing Director and Head of Industrials at Imperial Capital where he founded the Advanced Manufacturing & Supply Chain practice. Prior to Imperial, he advised Industrial Technology and Additive Manufacturing companies at FBR Capital Markets. After receiving his MBA from the Booth School at the University of Chicago, Mr. Frisch began his career as a Mergers and Acquisitions specialist in Industrials at Lehman Brothers. His early experience includes Oppenheimer & Co. and Chase Securities.
“Kevin brings a tremendous amount of firepower to our coverage footprint that will augment our industrials effort and elevate our broader platform,” continued Butler. “Cascadia has added significant talent over the last year. Kevin, alongside our growing senior leadership team, will play an integral role in our next phase of growth as we continue our long-term commitment of delivering superior outcomes for our clients.”
“I’m honored to join Cascadia Capital. The firm’s outstanding reputation, along with its commitment to excellence, are unique in the marketplace,” added Mr. Frisch. “ I am excited to be a part of a fast-growing platform that allows me to continue to focus on both Advanced Manufacturing and Aerospace, Space & Defense — sectors that complement the firm’s existing practices in Industrials and Robotics, Automation & Artificial Intelligence.”
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Founded in 1942 and headquartered in Grantsburg, WI, McNally is a leading designer and manufacturer of precision-machined components, complex assemblies, and hydro-mechanical systems for mission-critical defense and industrial applications. The Company’s capabilities span design, test, and reverse-engineering, supporting a blue-chip customer base with an average tenure of more than 20 years, including relationships of more than 40 years with several of its largest defense and government customers. McNally is deeply embedded in customer supply chains anchored by contractual, program-of-record demand.
“Cascadia was a great partner to McNally and SGE throughout the process, and the team’s thoughtfulness was a real differentiator," said Kyle Squillario, Managing Director at Susquehanna Growth Equity. "We're pleased with the outcome and look forward to McNally's continued growth alongside the Western Alliance team.”
“Through a disciplined and competitive process, we attracted strong lender interest and delivered a financing solution that provides McNally Industries with the flexibility to continue executing on its growth strategy and delivering on its record backlog,” said Tom Mills, Head of Capital Markets at Cascadia Capital. “Following exclusivity, McNally closed on its new facility with Western Alliance in just two weeks, securing an ideal financing partner to support the company’s continued growth.”
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