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Clarus Capital Increases Lease Financing Facility to $40MM for Multi-Sponsor Backed Logistics Provider

October 23, 2023, 08:11 AM
Filed Under: Logistics

Clarus Capital completed an add-on to an existing equipment lease facility for a multi- sponsor backed specialty logistics services provider. Incremental proceeds from the lease facility, now totaling $40 million, will continue to support corporate liquidity, new equipment purchases, and strategic expansion initiatives.

Clarus CEO Steve O’Leary commented “This facility expansion highlights Clarus’ commitment to providing flexible solutions to fit the evolving and complex liquidity needs of leveraged, sponsor-owned platforms. We are pleased to continue this partnership with the client and these two top-tier sponsors and demonstrate our ability to scale our credit commitment alongside the company.”

Clarus Chairman Tim Conway added “Increasing an existing facility to $40 million amidst recent market turbulence highlights our team's ability to help sponsors manage liquidity and execute on value-creating strategic plans. As some sources retreat, the Clarus team remains dedicated to providing reliable and efficient debt capital for sponsors and their portfolio companies, despite challenging market conditions. The team’s extensive 20+ years of leveraged finance expertise will continue to differentiate Clarus as we identify and scale these relationships."

For more equipment finance and leasing industry news, visit Equipment Finance Advisor.

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