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Fifth Third Bank Provides $25MM Asset-Based Revolving Credit Facility to Support Acquisition of Capital Pump & Equipment

November 29, 2022, 07:35 AM
Filed Under: Rental
Related: Fifth Third Bank

Fifth Third Bank provided a aew $25 million asset-based lending revolving credit facility to support the acquisition of Chandler, Arizona-based Capital Pump & Equipment, LLC.

In August 31, 2022, Harkness Capital Partners ("HCP"), a New York-based private equity firm focused on investments in leading service-oriented companies, completed an investment in Capital Pump & Equipment ("CPE"), a specialty pump rental and services platform based in Chandler, Arizona. HCP brings deep operating experience in specialty rental and in partnering with management teams in support of business building and growth initiatives. Fifth Third Bank provided a new Revolving Credit Facility to assist in facilitating the investment and to provide funding going forward to support CPE's growth strategy and build-out of new branch locations.

CPE is a leading specialty pump rental and services platform in the southwestern United States. Founded in 2013 by Tom Henderson, CPE provides high-capacity pumps and related equipment for rent and value-added services and expertise. CPE is led by Tom Henderson and Dan Foley and has long standing relationships with contractors and industrial customers managing large infrastructure, industrial, municipal and construction projects.

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