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Garrington Capital Provides $1.6MM Term Loan Supporting Acquisition of Equipment Rental Company

March 07, 2024, 07:00 AM
Filed Under: Rental

Garrington Capital closed a $1.6 million senior secured term loan to a support a buyer’s acquisition of a Pecos, Texas-based equipment rental business. The acquirer is a new, Dallas-based private equity sponsor.

The borrower’s rental services include delivery and pickup, repairs, fuel service, waste disposal, preventative maintenance, all with 24/7 service. Its customers are throughout Texas and New Mexico and includes major and independent oil and gas energy services. The proceeds of the loan were used to complete the acquisition and acquire the assets of the business.

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