The Batten Group of Companies announced the formation of CompanionWay, a joint venture between Batten and Anchor Capital Resources. CompanionWay will bring capital to middle-market companies through loans secured by inventory, equipment and/or other assets.

The principals of CompanionWay are Tom Minick, Johnny Chee-How, Joe Upson and David Teszler. The firm will be located in Atlanta and will target loans ranging in size from $500,000 to $5,000,000.

“Middle-market companies which maintain material inventory, equipment and other assets are experiencing difficulties obtaining necessary financing,” stated Tom Minick, managing partner of Batten and CompanionWay. “CompanionWay, in conjunction with lending partners, should be able to assist existing borrowers in refinancing efforts, effectuating acquisitions, and providing incremental working and growth capital availability.”

Minick further stated, “The skill-set and vast product knowledge that our team brings should enable CompanionWay to be a unique, yet complementary, lending source. Accordingly, we look forward to working with our lending partners to assist their clients.”

Added Teszler, “The idea behind the formation of CompanionWay is to supplement our lending partners’ product lines, filling in the gaps needed to complete a transaction.”