MEC Filings — Mayville Engineering Company, Inc. - FilingSpy
MEC
Mayville Engineering Company, Inc.
A contract manufacturer that fabricates, welds, coats, and assembles metal parts and components for big-name OEMs across trucks, construction, powersports, agriculture, and the military. Founded in 1945 by Mayville natives Ted Bachhuber and his uncle Leo in a rented garage behind a Main Street alley in Wisconsin, its first letterhead read "Tools, Dies, and Special Machinery." Today it ranks as one of the largest U.S. fabricators—and it also makes shotshell reloaders under the MEC Outdoors brand.
Mayville Engineering prices $86.9M common stock offering at $20 per share
Mayville Engineering Company entered into an underwriting agreement on May 19, 2026, with William Blair & Company and Craig-Hallum Capital Group as lead book-running managers.
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The offering consists of 4,348,000 shares of common stock at a public offering price of $20.00 per share, for total gross proceeds of approximately $86.9 million.
The underwriters fully exercised their 30-day option to purchase an additional 652,000 shares at the same price, less underwriting discounts and commissions.
The offering is expected to close on May 21, 2026, subject to customary closing conditions.
Net proceeds of approximately $93.9 million are intended to reduce debt under the senior secured revolving credit facility, fund capital expenditures, and for working capital and general corporate purposes.
1.01 Entry into a Material Definitive Agreement · 7.01 Regulation FD Disclosure · 9.01 Financial Statements and Exhibits
Mayville Engineering reports Q1 2026 net loss of $8.2M, net sales up 6.8% to $144.8M
Net loss was $8.2 million, or ($0.40) per diluted share, versus net income of $20 thousand in Q1 2025.
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Net sales for Q1 2026 were $144.8 million, up 6.8% year-over-year.
Adjusted EBITDA was $6.5 million, or 4.5% of net sales, down from $12.2 million in the prior year.
Secured approximately $50 million in new Datacenter & Critical Power project awards during Q1 2026.
Q2 2026 guidance: net sales of $145-$155 million, Adjusted EBITDA of $10-$13 million; full-year 2026 net sales of $590-$620 million, Adjusted EBITDA of $52-$60 million.
2.02 Results of Operations and Financial Condition · 9.01 Financial Statements and Exhibits
Mayville Engineering shareholders elect three directors and approve auditor and executive compensation at 2026 annual meeting.
At the April 21, 2026 annual meeting, shareholders elected Robert L. McCormick, Christine M. Schyvinck, and Tania L. Wingfield to three-year terms expiring at the 2029 annual meeting.
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McCormick received 10,331,494 votes for (61.78%) and 6,391,583 withheld; Schyvinck received 16,325,490 for (97.62%); Wingfield received 16,317,185 for (97.57%).
Shareholders ratified Deloitte & Touche LLP as independent auditor for 2026 with 17,979,087 votes for (99.24%).
The advisory say-on-pay proposal passed with 16,191,622 votes for (96.97%).
Approximately 89% of outstanding shares (20,318,370 as of the February 20, 2026 record date) were represented at the meeting.
5.07 Submission of Matters to a Vote of Security Holders
Mayville Engineering amends credit agreement, cutting revolver to $275M and easing leverage covenants.
On February 25, 2026, Mayville Engineering Company, Inc. entered into the Third Amendment to its Amended and Restated Credit Agreement with Wells Fargo Bank as Administrative Agent.
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The Third Amendment reduces the senior secured revolver commitment by $75 million, from $350 million to $275 million.
It adds two new pricing levels for periods when the consolidated total leverage ratio is at or above 4.00 to 1.00 and 5.00 to 1.00.
The amendment temporarily increases the maximum permitted consolidated total leverage ratio to 5.25 to 1.00 for Q1 and Q2 2026, and lowers the minimum interest coverage ratio to 2.75 to 1.00 for Q2 through Q4 2026.
The amendment also restricts certain operational covenants, including permitted acquisitions, during fiscal year 2026.
1.01 Entry into a Material Definitive Agreement · 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement · 9.01 Financial Statements and Exhibits
Mayville Engineering reports Q3 2025 net loss of $2.7M, reiterates FY2025 guidance
Net sales for Q3 2025 were $144.3 million, up 6.6% year-over-year, with organic net sales down 9.1%.
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GAAP net loss was $2.7 million, or ($0.13) per diluted share, versus net income of $3.0 million, or $0.14 per diluted share, in the prior year period.
Adjusted EBITDA was $14.1 million, or 9.8% of net sales, down from $17.1 million, or 12.6% of net sales, in Q3 2024.
The company reiterated its full-year 2025 guidance: net sales of $528-$562 million, Adjusted EBITDA of $49-$55 million, and Free Cash Flow of $25-$31 million.
Increased 2026 revenue synergy expectations from the Accu-Fab acquisition to $20-$30 million.
2.02 Results of Operations and Financial Condition · 9.01 Financial Statements and Exhibits