Overview

Michael D. Makofsky is a principal at McCarthy Lebit. He represents a broad range of financial institutions and financial service providers, including banks, private equity funds, commercial finance companies and mezzanine lenders.  Mr. Makofsky counsels borrowers, agents and syndicate members in commercial finance transactions ranging from large transactions to single-lender, single-borrower transactions.  He has significant experience in asset based lending, cash flow lending, multi-state, multi-currency and cross-border secured financing, financing secured by unusual types of collateral, ESOP loans, letter of credit facilities, health care financing, bond financing, and other capital transactions.

Mr. Makofsky also represents diverse businesses in transactional, day-to-day industry matters including those businesses who are selling, acquiring, reorganizing, or merging.  He assists clients in all aspects of complex mergers and acquisitions, such as structuring the transaction, performing due diligence, securing financing relationships, negotiating terms and documenting transactions.

Education

  • University of Conneticut
    • BA
  • Case Western Reserve University School of Law
    • JD

Admissions

  • Ohio
  • U.S. District Court Northern District of Ohio

Awards

  • Crain’s Cleveland Business 40 under Forty 2011

Activities

  • Association for Corporate Growth (ACG), Cleveland Chapter, Member
  • Ohio State Bar Association, Member
  • Cleveland Metropolitan Bar Association, Member & Chair of Business Law Section

Articles

  • "Proper planning is a critical piece to a successful business sale," Smart Business Magazine, May 2017
  • "Variations to traditional sale offer additional benefits," Crain's Cleveland Business, January 2017
  • "Proper planning can lead to successful business sale," Crain's Cleveland Business, December 2016
  • "Before you sign on dotted line, address post-closing obligations in a business sale," Crain's Cleveland Business, January 2016
  • “It’s all in the details – how small matters can greatly affect your transaction,” Crain’s Cleveland Business, January 2015
  • On Line Trading and Investor Education, CrainTech.com, Summer, 2002

Presentations

  • “Capital Financing Solutions”, Cleveland Accounting Show, October 2013

Experience

Foreign Acquisition of Domestic Company

Represented a foreign public corporation in the multi-million dollar acquisition of a domestic company.

Reconstitution of International Company

Handled the reconstitution of an Indian company into a US corporation in order to bring in investors from the United States.

$4,335,000 Construction of Office Building

Represented Owner in $4,335,000 construction financing for an office building in downtown Cleveland.

Representation of Lender in Leasehold Deed of Trust

Represented the lender in connection with a $12,000,000 real estate loan secured by a leasehold deed of trust on real property located in California that contemplated a future lot split, release and development of a portion of the collateral property.

$9 Million Sale of Midsize Medical Practice

Counsel to Seller-Physicians in the $9 million sale of a midsize medical practice to a large local hospital system.

Stock Acquisition Purchase $60 Million

Represented a developer of adhesive and sealant products in a stock acquisition of a complementary line of business for a purchase price of over $60 Million.

Stock Acquisition Purchase $18 Million

Represented a developer of adhesive and sealant products in a stock acquisition of a complementary line of business for a purchase price of $18 Million.

Stock Acquisition $10 Million

Represented a company that markets and distributes maintenance and repair products throughout the world in a stock acquisition for a purchase price in excess of $10 Million.

Contribution and Sale Agreement $35 Million Plus Earnout

Represented a company that is global provider and seller of process automation, material conveying, and air conveying solutions for industrial and manufacturing facilities in a contribution and sale agreement to a private equity firm for a purchase price of over $35 Million plus an earnout for an additional percentage of equity.

Sale $42 Million

Represented a company that manufactures respiratory protection and filtration equipment for a sale price in excess of $42 Million.

Sale $250 Million

Acted a special counsel to certain shareholders in connection with the sale of a medical device company for a sale price of over $250 Million.

Sale $5 Million

Represented a company engaged in the retail sale of propane gas and related products for a sale price of over $5 Million.

Sale $15 Million Plus Future Royalties

Represented a developer of biosurgery and pharmaceutical products in the sale of four separate business units for a combined sale price of $15 million plus future royalties of up to $32 Million.

Sale $50 Million

Represented a private equity firm in the sale of a portfolio company for a purchase price of over $50 Million.

Stock Sale $40 Million

Represented the shareholders of a company that manufactures and provides logistics for a complete line of gas management systems, compressed gas fittings, assemblies and manifolds for the alternative fuel, welding, cryogenic, medical and specialty gas markets throughout the world in a stock sale to a private equity firm for a purchase price of over $40 Million.

Multi-Million Dollar Credit Facilities to various Real Estate Investment Funds

Represented lender with several multi-million dollar credit facilities extended to various real estate investment funds.

$120 Million Credit Facility to Storage and Logistics Business

Represented the agent and lead lender in connection with a $120 million syndicated revolving and term loan credit facility to a group of related borrowers engaged in the storage and logistics business to facilitate a significant acquisition.

$18,900,000 Development of High Profile Project

Represented lender in a complex $18,900,000 loan transaction to fund the development of a high profile $272,000,000 project involving 35 sources of project financing.

$40,000,000 Development Transaction involving Tax Credits

Represented developer in a complex high profile $40,000,000 development transaction involving federal and state historic tax credits and new markets tax credits.

Refinancing of Skilled Nursing Home Facility

Counsel to local nursing home operator in connection with refinancing of skilled nursing home facility.

$3,400,000 Retail Project

Represented lender in $3,400,000 amended loan facility for a retail project in Missouri.

$5,800,000 Retail Project

Represented lender in $5,800,000 amended loan facility for a retail project in Iowa.

$5,000,000 Urban Development

Represented lender in $5,000,000 revolving credit facility to fund infrastructure improvements in connection with a large scale planned urban development in Colorado.

$6,500,000 Urban Development

Represented lender in $6,500,000 revolving credit facility to fund infrastructure improvements in connection with a large scale planned urban development in New Mexico.

In $6,000,000 Retail Property

Represented lender in $6,000,000 mezzanine loan facility for the development of a retail property.

$15,000,000 CMBS Transaction

Represented owner of commercial property in Ohio in $15,000,000 CMBS transaction.

$64,000,000 CMBS Transaction

Represented owner of commercial properties in Ohio in $64,000,000 CMBS transaction.

Company that specializes in Recycling Secondary Scrap Metal in $28 Million Credit Facility

Represented a company that specializes in recycling secondary scrap metal in a $28 million asset based credit facility (revolving and term loans) which included the granting of a security interest in non-traditional assets.

Dealer of Equipment and Engine in $50 Million Credit Facility

Represented an authorized dealer of equipment and engines for a global organization in connection with a $50 million asset based credit facility (revolving, term and real estate loans) which included inter-creditor issues from various financing sources.

$50 Million Credit Facility to Chain of Stores

Represented the agent and lead lender in connection with a syndicated $50 million asset based revolving credit facility extended to a national chain of religious product stores, which included the negotiation of inter-creditor issues in connection with the issuance of a $25 million second lien note.

$125 Million Credit Facility to Global Supplier of Metal Alloys

Represented the agent and lead lender in connection with a syndicated $125 million asset based credit facility (revolving and term loans) extended to a publicly-traded global supplier of metal alloys, which included the negotiation of complex inter-creditor issues in connection with the issuance of a $35 million subordinated note.

$220 Million Credit Facility to Manufacturer

Represented the agent and lead lender in connection with a syndicated $220 million multi-currency asset based revolving credit facility extended to a publicly-traded diversified manufacturer with operations throughout the world.

$4,200,000 Distribution Center

Represented lender in $4,200,000 construction facility for the development of a distribution center in New York that involved a complex tax structure in connection with a public/private transaction.

$15,750,000 Student Housing Project

Represented lender in $15,750,000 construction facility for an student housing project in Ohio.

$17,500,000 Apartment Project

Represented lender in $17,500,000 construction facility for an apartment project in Tennessee.

$32,000,000 Development of a Mall

Represented lender in $32,000,000 construction facility for the development of a mall that utilized Indemnity Deeds of Trust to minimize transfer taxes.

$4,000,000 Apartment Complex

Represented lender in $4,000,000 construction financing for apartment complex in Ohio.