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TCF Capital Funding Provides $24MM Financing to Prospect Partners for Dividend Recap

June 14, 2017, 07:00 AM
Filed Under: Environmental Services

TCF Capital Funding, a division of TCF National Bank which is a subsidiary of TCF Financial Corporation announced that it provided $24,000,000 in secured financing to support Prospect Partners, LLC, in a dividend recapitalization of Owen Equipment.

Headquartered in Portland, OR, Owen Equipment is a leading environmental maintenance equipment company in the Western U.S. and the exclusive distributor for Federal Signal Corporation’s Vactor® and Elgin® product lines in Oregon, Washington, Northern California and select counties in Idaho and Nevada. Owen Equipment has achieved significant success executing its strategic plan while remaining committed to its customers and co-workers.

“Earl Rose, the management team and Prospect Partners have consistently outperformed expectations. We are excited to expand our relationship with Owen Equipment and look forward to supporting the collective team for many more years” said TCF Capital Funding Senior Vice President KC Beuker. 

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