EquipmentShare has closed a $2.75 billion senior secured asset-based revolving credit facility, marking a significant milestone in the company’s continued expansion within the construction technology and equipment rental sector. The new facility, led by Wells Fargo as administrative agent and primary lender, strengthens the Missouri headquartered company’s capital structure while extending debt maturity to 2030 and improving pricing terms.
The financing replaces EquipmentShare’s previous asset-based senior secured credit facility and is designed to enhance the company’s long-term strategy, which includes expanding its technology investments and scaling its nationwide equipment operations. Multiple major financial institutions joined the transaction as joint lead arrangers, joint book runners, co-syndication agents, or co-documentation agents. Participants include Wells Fargo Bank, Citibank, Truist Bank, Citizens Bank, Fifth Third Bank, SMBC, Goldman Sachs, U.S. Bank, Regions Bank, TD Bank and UBS.
The company noted that the expanded facility supports the advancement of its proprietary T3 technology platform, which provides connected jobsite tools, telematics, fleet management systems, and a digital marketplace for equipment rentals. EquipmentShare, founded in 2015, has grown rapidly to become one of the largest equipment rental providers in the United States.
Wells Fargo’s Capital Finance division noted that the new agreement strengthens the bank’s long-standing relationship with EquipmentShare. The financing is positioned to support the company’s market plans, operational initiatives and future technology investments.
EquipmentShare continues to broaden its national footprint and recently ranked among the top software innovators in the construction technology space. The company focuses on improving productivity, efficiency, and collaboration across the construction industry through data-driven insights and digitally integrated asset management.
The announcement follows several months of momentum for the company, including expansions of its technology offerings and increases in market share in construction and equipment solutions.
KEY QUOTES:
“EquipmentShare’s growth is powered by a disciplined capital structure and our market-leading, award-winning T3® technology platform. This facility strengthens our financial foundation and provides the stability and flexibility we need to execute our long-term strategy, invest in our technology, and continue delivering industry-leading value to our customers.”
Jabbok Schlacks, Co-Founder And CEO, EquipmentShare
“Wells Fargo is pleased to support EquipmentShare and their continued growth with this new asset-based loan facility. We are proud to expand our strong relationship to help the company achieve their strategic goals.”
Kurt Marsden, Head Of Wells Fargo Capital Finance
