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Amerisource Completes $2MM Credit Facility for Oilfield Services Company

September 21, 2018, 08:00 AM
Filed Under: Energy Services

Amerisource Business Capital announced the closing and funding of a $2,000,000 credit facility for a recently acquired oilfield services and heavy-haul trucking company based in Texas. Proceeds of the facility were used to leverage the new private equity sponsor’s investment, and to provide working capital for growth.

Nic Wagner, Regional Market Manager for Amerisource, stated: “With the current growth in the energy industry, the M&A market is hot.  This group originally secured a term loan facility, but quickly realized an ABL revolving line was needed to support a sustained growth model.  The Company was attracted to our scalable “floating” line, as our clients will not outgrow our lending capabilities.  We are excited about this new relationship and look forward to meeting their growth financing needs.”

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