Super G Provides Multi-Tranche Second Lien Growth Capital Facility to Lease Crew Services Company
Company provides lease crew services and equipment rentals to leading exploration and production companies in South and West Texas.
The Financing Situation:
The Company was seeking growth capital in addition to its existing asset based financing. The Company had equipment financing in place as well as a flexible factoring arrangement with FarWest Capital and could not unlock additional availability from its existing collateral. The Company needed to raise equity or find an airball (stretch piece) financing solution based on cash flow and enterprise value.
Super G was able to quickly get comfortable with the Company’s growth plans and management team to close on a multi-tranche growth capital facility that solved the Company’s immediate and future capital needs. Super G worked closely with the Company’s existing lender, FarWest Capital, to finalize an intercreditor agreement and fund the Company quickly.
For more information on FarWest, please contact:
Super G Capital is an alternative lender with over $100 million in committed capital specializing in residual and cash flow loans. Our mission is to fill the credit void in the lower middle market by providing non-dilutive, senior and subordinated debt solutions to businesses in need of financing for working capital, growth capital, acquisition capital, or special situation financing. We lend up to $5 million per transaction in the form of a fully-amortizing cash flow term loan with a 6-36 month term (pricing contingent on credit profile). We are a small, but nimble team and highly responsive. We have over 100+ borrowers around the country and are able to give quick responses and close deals rapidly.