US Capital Partners Provides $22 Million for Oilfield Services Firm
US Capital Partners, LLC has structured and provided expansive financing for a growing oilfield services business to support a management buyout and provide working capital for growth.
SAN FRANCISCO, JANUARY 2013 – US Capital Partners, LLC has provided $22 million in financing for a fast-growing US firm in the oilfield services sector (the “Company”), headquartered in Oklahoma. US Capital Partners is a private investment bank that makes direct debt investments, participates in debt facilities, and arranges equity placements for small to lower middle market companies.
“We are delighted to have supported this fast-growing business in the energy industry,” said Jeffrey Sweeney, CEO and Managing Director at US Capital Partners. “The Company approached US Capital Partners on account of our flexibility and ability to structure complex transactions in a short window of time. On the basis of an audit and appraisal we ordered, we were able to structure a $5 million accounts receivable line of credit, a $5 million bridge term loan, and a $12 million machinery and equipment term loan for the Company.”
“US Capital Partners looks at every aspect of a business to design optimal and custom financing solutions for all its clients,” said Charles Towle, Director at US Capital Partners. “In this case, we created a full credit package shortly after engagement, and negotiated with the Company’s current lender to increase availability on its existing line of credit. Working within existing covenants, we structured and provided an expansive financing package for the Company, which was executed on by the client.”
About the Company
Based in Oklahoma, the Company is an oilfield services firm that provides work-overs and construction for oil and gas wells, completions, acid services roustabouts, equipment transportation services, and water services. The Company, which operates in multiple locations in the US, has monthly sales in excess of $3.5 million and employs hundreds of talented workers dedicated to the Company’s goal of being the best service business in the industry.
About US Capital Partners, LLC
Since 1998, US Capital Partners (www.uscapitalpartners.net) has been providing prompt, innovative, and reliable financing solutions including lending, equity financing, and debt re-structuring to businesses across the United States and abroad. US Capital Partners is a private investment bank, direct lender, co-lender, and lead financial arranger that specializes in asset-based debt for small to middle market private and public companies. The company’s innovative approach allows it to provide the best financing available, not only for companies in excellent financial condition, but also for companies that may have been refused credit by traditional lenders.
If you would like to know more about how your business can secure the financing it needs, email Jeffrey Sweeney, CEO and Managing Director, at jsweeney@uscapitalpartners.net or call (415) 889-1010.