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Great American Capital Partners Agents $200MM Senior Secured Term Loan for BJ Services

February 04, 2019, 07:22 AM
Filed Under: Energy Services

Great American Capital Partners, LLC (GACP), a B. Riley Financial company, announced it has acted as administrative agent for a $200 million senior secured term loan to BJ Services, LLC. The transaction will provide additional financial flexibility for the Company, which operates the third-largest pressure pumping fleet and the second largest oilfield cementing fleet in North America, with operating locations across all the major resource plays.

“We are very pleased to provide BJ Services with a financing solution that meets their capital needs and supports liquidity as they continue to execute their business initiatives,” said John Ahn, President of GACP.

Bob Louzan, Managing Director of GACP added, “Management, led by industry veterans, has clearly demonstrated their ability to transform the operations through steady improvements quarter over quarter. This transaction is one more example of GACP’s ability to creatively structure debt solutions for our borrowers.”

“BJ Services is pleased with GACP’s execution and professionalism throughout the process. We are pleased to put in a long-term capital structure which supports our growth plan for 2019 and beyond,” said Kelly Youngblood, Chief Financial Officer of BJ Services. 

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