Garrington Capital (garringtoncapital.com), a leading provider of capital solutions to middle-market companies in the United States and Canada, is pleased to announce the closing of a $7.4mm Senior Secured Term Loan (the “Loan”) to Plum Investments, LLC (“Plum” or the “Borrower”). The funds will be used to complete Plum’s planned restructuring and consolidation of six existing entities under the Plum Companies umbrella.
Founded in 2011, Plum is a leader in the design, construction, commissioning, and
operation of small-scale Liquified Natural Gas (“LNG”) plants. The founders pioneered the development of small-scale natural gas over a decade ago, revolutionizing fuel stations for the first company to develop off-grid markets for small-scale LNG. Plum allows its customers to utilize less expensive, clean-burning natural gas by creating safe, comprehensive systems that meet the specific needs of their business. Applicable to mining and oil & gas, as well as other industries, Plum’s small-scale LNG solutions allow its customers multiple options to access the versatility of LNG as a replacement for diesel.
Garrington Capital US Corp. and its affiliates (collectively, “Garrington”) provide working capital lending facilities ranging from $1 million to $30 million to small- and medium-sized companies through creative investment funding solutions. Garrington has deployed more than $6 billion since inception. With offices in Toronto, Chicago, Austin, Texas, and Westport, Connecticut, Garrington has approximately 60 employees in Canada and the United States. Our leadership and investment teams are an experienced, well-seasoned and creative group of investment and finance professionals who have the shared belief that Garrington is well-positioned to respond to the working capital challenges facing small- and medium-sized enterprises. Garrington strives to support entrepreneurial businesses with practical and creative working capital solutions and aims to be the first call when opportunities arise.
Source: Garrington Capital
Related Links: www.garringtoncapital.com