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Ares Commercial Finance Provides Recap Financing to Support Pro Oil & Gas Services

June 29, 2017, 07:00 AM
Filed Under: Energy

Ares Commercial Finance announced that it has provided a senior secured credit facility to Pro Oil & Gas Services, LLC (Pro) in connection with Intervale Capital’s recapitalization of the business.

Headquartered in Houston, Pro is a diversified multi-basin completion and drilling services company with operations in West Texas, South Texas, Louisiana, Oklahoma and the Northeast. Pro’s current service offerings include wireline, pumping services, flowback, frac stacks, wireline lubricators and pressure control, surface drilling, solids control, chemical mixing plants as well as torque and test services. Proceeds of the financing were used to repay indebtedness and provide liquidity to fund growth initiatives.

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