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Wells Fargo Capital Finance Provides ABL Facility to U.K Rental Companies

October 15, 2015, 07:44 AM
Filed Under: Rental

Wells Fargo Capital Finance announced that it acted as agent and lead arranger of an asset-based credit facility in support of the acquisition of Fork Rent Limited (“Fork Rent”) and One Call Hire Limited (“One Call”) by Searchlight Capital Partners, L.P. (“Searchlight”) and Duke Street LLP (“Duke Street”). Fork Rent and One Call are specialised rental equipment companies focused on the residential and infrastructure segments, respectively. The companies offer complementary categories of equipment and will therefore be able to meet the growing demands of the construction market in the U.K.

 “We are pleased with the opportunity to work with such great companies,” said Steven Chait, managing director and head of EMEA at Wells Fargo Capital Finance. “The asset-based credit facility put in place to support the transaction and fund the growth of the businesses demonstrates the increasing capabilities and financial solutions Wells Fargo Capital Finance can tailor for its clients.”

Wells Fargo was joined by banking partners Royal Bank of Scotland and Bank of America Merrill Lynch.

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