Rouse's Point, New York

ProCat US

Background

ProCat US was a boat manufacturing company founded to produce multi-hull workboats from its home base in the Champlain Valley. The boats were distinguished by a superior amount of deck workspace; fuel efficiency, safety and stability, and ability to navigate shallow waters.

Initial Contact and Pitch Session

ProCat US was referred to Point Positive by the Small Business Development Center. The Team participated in Point Positive's 2014 Fall, Pitch Session.

Investment

An initial tranche of $350,000 was invested in ProCat US in the Spring of 2015 by three Point Positive members with additional funds committed once certain milestones had been achieved. The investment was structured as a Series A Preferred Offering.

Job Creation and Benefits

At its peak, ProCat US had created 20 new manufacturing jobs. Ultimately, though, ProCat's founding team was unable to execute their plan and ProCat US closed down their operation without completing their prototype boat.

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Melinda L. Little, Coordinator
PO Box 1281, Saranac Lake, NY 12983
...
Phone: (518) 354-0202