FREE MEMBERSHIP Includes » ABL Advisor eNews + iData Blasts | JOIN NOW ABLAdvisor Gray ABLAdvisor Blue
Skip Navigation LinksHome / Press Releases / Read Press Release


Great American Capital Partners Provides $25MM Delayed Draw Term Loan to Legend Energy

May 23, 2017, 07:00 AM
Filed Under:

Great American Capital Partners, LLC (GACP), a wholly owned subsidiary of B. Riley Financial, Inc., a provider of diversified financial and business advisory services, has entered into an agreement with Legend Energy Services, LLC to provide a $25 million delayed draw senior secured term loan. Proceeds from the loan will be used to acquire machinery & equipment.

“The oil & gas sector is at a meaningful inflection point with crude oil prices rising. Hydraulic fracturing, or fracking, specifically, has reshaped the global energy landscape, and continues to fuel a dramatic boom in U.S. oil production,” said John Ahn, President at GACP. “GACP is well versed within this sector, and has been able to leverage that institutional knowledge to provide Legend Energy Services with fast, flexible financing to pursue their expansion into fracking operations. Legend Energy is well positioned to execute its growth plan in 2017 and going forward, and we are very excited about this partnership.”

“The financing provided by Great American Capital Partners provides us additional financial flexibility as we expand into the pressure pumping market,” said Trey Ingram, CEO of Legend.  “We look forward to building on the relationship with GACP.”

Comments From Our Members

You must be an ABL Advisor member to post comments. Login or Join Now.