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PNC Provides $50MM Credit Facility to HKW Portfolio Company

January 17, 2014, 06:38 AM
Filed Under: Energy Services

PNC Bank announced the closing of $50 million in senior secured financing for a portfolio company of Hammond, Kennedy, Whitney & Company, Inc. (HKW), a private equity firm  headquartered in Indianapolis. The funds were used to acquire and consolidate Texas-based TC Safety, Inc. and EnerSafe, LLC. Both companies provide safety services and products to large oil and gas producers. Steel City Capital Funding, a division of PNC, provided a portion of the financing.

The PNC Financial Services Group, Inc. is one of the nation’s largest diversified financial services organizations providing retail and business banking; residential mortgage banking; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management.

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