CEI Capital Management, REI Development Corp and MetaFund, provided New Markets Tax Credit financing

(STILLWATER, OK and BRUNSWICK, ME – May 28, 2026)  CEI Capital Management LLC  (CCML) is joined by Oklahoma-based Community Development Financial Institutions REI Oklahoma and MetaFund to close on New Markets Tax Credit financing for Kingspan Roofing + Waterproofing, Inc. to construct an advanced manufacturing facility in Stillwater, OK that produces energy-efficient roof systems for commercial buildings.

This project will redevelop a former flooring manufacturing plant which has been vacant since 2022. The 450,000-square-foot facility provides Kingspan with space for current operations, as well as future growth. The new plant is expected to create 100+ new, permanent full-time jobs and 33 full-time equivalent construction jobs, meeting the community’s desire to replace lost manufacturing jobs with stable, living-wage employment and increase local economic resilience by diversifying the employment base beyond the local university.

Founded in Kingscourt, Ireland in 1965, Kingspan Group PLC expanded to the US in 2000. The company employs more than 2,400 staff at 20+ manufacturing and distribution facilities across North America. This advanced manufacturing facility will produce energy-efficient thermoplastic polyolefin (“TPO”) roof systems for low-slope commercial roofs. Being in Oklahoma allows the company to better serve customers across the United States. The New Markets Tax Credit financing is key in absorbing increased construction costs and in supporting upfront costs associated with equipment installation, workforce training, and initial hiring, including partnerships with local educational institutions.

The New Markets Tax Credit Program (NMTC Program) was established in 2000 and made permanent in July 2025 as part of in H.R.1, the “One Big Beautiful Bill.” Investments made through the NMTC Program are used to stimulate private investment and economic growth in low-income urban neighborhoods and rural communities that lack access to the patient capital needed to support and grow businesses, create jobs, and sustain healthy local economies. Since its inception, the NMTC has generated more than 1.2 million jobs.

As noted by the Stillwater Chamber of Commerce in their letter of support for the project, nearly 30% of residents live below the poverty line. This is despite 95.6% of Stillwater residents having earned at least a high school diploma and more than half possessing bachelor’s degrees. The Stillwater facility will offer advanced manufacturing jobs in production, maintenance, technical, and management roles.

“We are excited to welcome Kingspan to Stillwater. As a respected international manufacturer, they will further expand the diversity and breadth of local career opportunities and economic growth,” said Stillwater Mayor Will Joyce.

CCML invests in rural manufacturing projects nationwide that create quality jobs, strengthen supply chain resilience, support strategic and emerging industries, and return production from overseas, while REI Oklahoma and MetaFund focus their financing to communities throughout Oklahoma. The investment in Kingspan Roofing + Waterproofing, Inc. aligns with all three organizations’ goals to bring quality jobs and critically needed private investment to deeply distressed rural areas, where access to capital is limited or non-existent.

“Kingspan Group’s investment in Stillwater will bring family-sustaining jobs back to a long-idled facility and strengthen the region’s manufacturing base,” said CCML CEO Traci Vaine. “New Markets Tax Credits help close critical financing gaps so companies can move forward with construction, specialized equipment, and workforce training, ensuring local residents have a real pathway to good jobs with wages, benefits, and opportunities to advance.”

“Kingspan Group has turned a community loss into an opportunity by revitalizing the shuttered Armstrong Flooring facility and creating high quality jobs for the community. We are thrilled that a global manufacturer of this caliber is investing here and partnering with local institutions like Oklahoma State University and Meridian Technology Center to build its workforce from the ground up,” said Evan Fay, NMTC Program Manager for MetaFund. “These partnerships speak volumes about the Stillwater community and about the quality of this deal. We’re honored to play a role in bringing it to fruition.”

The New Markets Tax Credit equity was provided by Dudley Ventures/ Valley Bank. Hope Community Capital served as investment consultant to CCML.

“We are thrilled to be a part of this significant transaction as the NMTC Investor for Kingspan Roofing + Waterproofing Inc.’s advanced manufacturing facility in Stillwater, OK. This investment not only revitalizes a vacant space but also creates sustainable employment opportunities for the community,” said Kyle Koupal, VP of Investments at Dudley Ventures/Valley Bank. “We are proud to partner with CEI Capital Management, REI Oklahoma, and MetaFund in supporting economic growth and innovation in the region.”

About CEI Capital Management

CEI Capital Management works nationally to connect new and existing rural manufacturing companies with flexible capital through the Federal New Markets Tax Credit (NMTC) Program and the Maine New Markets Capital Investment (NMCI) Program so they can build good jobs that provide living wages, comprehensive benefits and opportunities for training and advancement. Since 2004, CCML has placed over $1.2 billion of NMTC/NMCI capacity in over 100 projects. CCML is a wholly owned subsidiary of Coastal Enterprises, Inc. (CEI), a Maine-based nonprofit community development financial institution.

About REI Oklahoma

REI Oklahoma expands economic opportunities for Oklahomans by providing flexible financing and development to individuals, businesses, and entrepreneurs with limited access to resources. Since 2003, REI has received $675 million in New Markets Tax Credit authority to invest in low income, rural and undeserved communities of Oklahoma. REI Oklahoma’s New Markets Tax Credit program has created or retained more than 5,000 jobs and contributed over $1.6 billion in impact to Oklahoma’s economy.

About MetaFund

MetaFund is a nonprofit Community Development Financial Institution (CDFI) investing in impact and expanding economic opportunity through flexible financing and partnerships with banks, philanthropic investors, government entities, and community leaders. Since 2022, MetaFund has deployed more than $300 million of NMTC financing to support access to quality manufacturing jobs, quality healthcare, and education.

Media Contact:

Christen Graham for CEI Capital Management

207-838-0082 / cgraham@givingstrong.com