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US Capital Partners Provides $22MM for Oilfield Services Firm

January 30, 2013, 07:17 AM

US Capital Partners, LLC has provided $22 million in financing for a fast-growing US firm in the oilfield services sector headquartered in Oklahoma.

“We are delighted to have supported this fast-growing business in the energy industry,” said Jeffrey Sweeney, CEO and managing director at US Capital Partners. “The company approached US Capital Partners on account of our flexibility and ability to structure complex transactions in a short window of time. On the basis of an audit and appraisal we ordered, we were able to structure a $5 million accounts receivable line of credit, a $5 million bridge term loan, and a $12 million machinery and equipment term loan for the company.”

“US Capital Partners looks at every aspect of a business to design optimal and custom financing solutions for all its clients,” said Charles Towle, director at US Capital Partners. “In this case, we created a full credit package shortly after engagement, and negotiated with the company’s current lender to increase availability on its existing line of credit. Working within existing covenants, we structured and provided an expansive financing package for the company, which was executed on by the client.”

Based in Oklahoma, the company is an oilfield services firm that provides work-overs and construction for oil and gas wells, completions, acid services roustabouts, equipment transportation services, and water services.

US Capital Partners is a private investment bank that makes direct debt investments, participates in debt facilities, and arranges equity placements for small to lower middle market companies.

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