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


Prospect Capital Provides $30MM First Lien Loan to Support Spartan Energy Recap

January 02, 2013, 07:51 AM

Prospect Capital provided a $30 million first-lien senior secured loan to support the recapitalization of Spartan Energy Services, a provider of thru tubing and flow control services to oil and gas companies operating throughout the United States. The recapitalization was completed by Harren Equity Partners in partnership with Spartan's management team and employees.

Headquartered in Lafayette, LA, Spartan provides oil and gas services through its two subsidiaries, Spartan Thru Tubing Services and Spartan Flow Control Services.

"Prospect is pleased to provide the entire senior secured term loan in support of Spartan, a financially strong company that is well positioned to take advantage of the strong growth in developing shale plays across the United States," said David Belzer, a managing director of Prospect Capital Management.

Prospect has closed approximately $2.1 billion of originations to date in the current 2012 calendar year.




Comments From Our Members

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