March 5, 2024 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 $1.6 Million Senior Secured Term Loan (the “Loan”) to a support a buyer’s acquisition of a Pecos, Texas-based equipment rental business. The acquirer is a new, Dallas-based private equity sponsor.
The borrower’s rental services include delivery and pickup, repairs, fuel service, waste disposal, preventative maintenance, all with 24/7 service. Its customers are throughout Texas and New Mexico and includes major and independent oil and gas energy services. The proceeds of the loan were used to complete the acquisition and acquire the assets of the business. A sample of the borrower’s equipment is set forth below.
About Garrington Capital
Garrington Capital US Corp. and its affiliates (collectively, “Garrington”) provide creative investment funding solutions ranging from $1 million to $30 million to small- and medium-sized companies throughout the US and Canada. Garrington strives to support entrepreneurial businesses with practical and creative working capital solutions and aims to be the first call when opportunities arise. Our leadership and investment teams are comprised of experienced, well-seasoned and creative investment and finance professionals that share the belief that Garrington is well-positioned to respond to the working capital challenges facing small- and medium-sized enterprises. With headquarters in Toronto and Chicago, as well as offices in Texas and Connecticut, Garrington has approximately 65 employees and has deployed, as both a principal and credit advisor to certain funds, more than $5 billion since inception in 1999.