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MassDevelopment Finances Scenic Technology Corp. Expansion

Feb 21, 2012 | Reprints | Unlock Link | Print

MassDevelopment has provided $2.5 million in term financing from its Emerging Technology Fund to Scenic Technology Corp., which does business as Quiet Logistics, based in Andover.

Quiet Logistics will use loan proceeds for both equipment and working capital to meet the cost of expanding its distribution center in Devens. The company started leasing the 200,000-square-foot distribution center last May, and expects the new operation to create up to 300 jobs over the next few years.

"As the agency managing Devens, MassDevelopment proudly welcomed Quiet Logistics last year as a tenant," stated MassDevelopment President and CEO Marty Jones. "We are even more pleased to finance the company’s expansion through the Emerging Technology Fund, and add jobs in the Nashoba Valley."

Quiet Logistics uses warehouse automation technologies and robotics to provide product and brand care services, including order and inventory accuracy.

Banking & Lending