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Great Rock Capital Closes $34.2MM Credit Facility with Blaschak Anthracite

December 05, 2022, 07:57 AM
Filed Under: Mining

Great Rock Capital closed a $34.2 million senior secured credit facility with Blaschak Anthracite Corporation (“Blaschak”), a portfolio company of Milestone Partners. Blaschak is a leading producer of ultra-high-grade anthracite, which is one of nature’s cleanest-burning solid fossil fuels and carbon sources.

The bespoke facility, which includes a revolver, a term loan, and a delayed draw term loan, refinanced a portion of the company’s existing debt and will support the future acquisition and capital expenditure needs of the business.

“With the increasing global demand for our product, Blaschak needed a financial partner who realized our near-term growth potential,” said Boyd Kreglow, CEO of Blaschak.  “Great Rock quickly understood our competitive edge and customized a financing solution that will provide the necessary liquidity to execute on our strategic expansion initiatives.”

“The high-quality leadership of Blaschak’s management team, coupled with their long-standing partnership with Milestone Partners, has positioned the company as an industry-leader in the United States,” said Stuart Armstrong, CEO of Great Rock Capital. “Their strategic expansion plan will continue to drive the growth of this business, and we look forward to being a part of their future success.”

“Our partnership with Blaschak has thrived over the last 13 years,” commented Scott Warren, Managing Partner at Milestone Partners. “The liquidity and flexibility provided by Great Rock’s credit facility will allow Blaschak to unlock future growth potential.”

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