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Siena Lending Provides $15MM Ranger Subsea Nig Ltd.

September 06, 2016, 08:02 AM
Filed Under: Energy Services

Siena Lending Group LLC announced the completion of a $15 million credit facility for Ranger Subsea Nig Ltd. to fund expanding operations off the coast of Lagos, Nigeria. 

Headquartered in Houston, TX, Ranger Offshore, the parent and its subsidiaries, provides subsea construction services and support for the offshore oil and gas industry, including subsea inspection, repair and maintenance, decommissioning and new construction projects in the U.S. Gulf of Mexico, Mexico, West Africa, and select international markets. Ranger Offshore is a portfolio company of SunTx Capital Partners. FocalPoint Partners LLC acted as the debt and financial advisor on the transaction.

David Grende, President and CEO of Siena Lending Group, said, “We are very pleased to provide the credit facility to Ranger Subsea Nig Ltd to support their growth and expansion in Nigeria.  We were able to respond quickly to the request and to deliver a commitment and closing within the timeframe requested by the company.”

Chris Guinta, a Director of Ranger Subsea Nig Ltd. said, “We are pleased to have established the credit facility and look forward to expanding the relationship with Siena in the future.”

SunTx Capital Partners, LP, is a Dallas-based private equity firm that invests in middle market manufacturing, distribution, and service companies.  Formed in 2001, SunTx currently has over $650 million under management.  More information about SunTx can be found at

Siena Lending Group is an independent commercial finance company offering asset based loans between $1 and $30 million to small and middle market businesses across the United States. Siena also offers a turn-key servicing platform, which provides an attractive asset based product for community and regional banks that desire improved operating metrics and asset diversification.

Siena’s independence as a finance company allows innovative & flexible solutions, while allowing its customers to maintain a relationship with their own bank. Siena’s management team is experienced, innovative, dependable, entrepreneurial, and highly regarded within the industry. The team has, on average, 20 years each of experience and has transacted over $12 billion in facilities.

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