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Great Rock Capital Closes $16MM Credit Facility with VEDCO

October 22, 2020, 08:15 AM
Filed Under: Specialty Industries

Great Rock Capital closed a $16 million senior secured credit facility with Virginia Explosives & Drilling Company (VEDCO), a leading full service drilling and blasting company.

The increased borrowing capacity provides VEDCO with additional liquidity to execute on their short and long-term growth objectives. The tailored facility includes a term loan as well as a revolver.

"The Great Rock Capital team quickly understood our capital needs and customized a structure that maximizes our liquidity as our business evolves," said Kevin Staton, CFO of VEDCO. "We look forward to partnering with Great Rock Capital as we execute on our strategic growth plan and continue to develop deep, long-standing customer relationships, which we believe are the cornerstone of our success."

"VEDCO is led by an innovative and experienced management team that is well positioned for continued growth," said Stuart Armstrong, CEO of Great Rock Capital. "VEDCO's unmatched industry expertise and strong customer relationships have helped the firm build a very successful business. We are excited to be their financial partner and look forward to being part of their next level of growth."

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