Stonebriar Commercial Finance announced the closing of a seven-year CAD$130 million term loan for a leading provider of specialty industrial and environmental services to oil and gas, chemical, and manufacturing end markets. This loan, part of a leveraged buyout, is secured by all fixed assets of the company. This is the second deal closed with the company’s sponsor in the last 12 months, totaling CAD$186 million.
Stonebriar (an Eldridge Industries business) originates and services a portfolio of lease and loan products secured by essential income-producing assets across the credit spectrum. Based out of Plano, TX, Stonebriar’s portfolio serves as a catalyst for the U.S. economy by providing capital needed in key sectors including manufacturing, marine, aviation, rail, energy and real estate.
KEY QUOTES:
“This transaction not only highlights Stonebriar’s belief in the Sponsor and the business management team, but also is another validation of our ability to fully underwrite transactions up to $500 million. Stonebriar remains committed to working closely with the sponsor community and their portfolio companies to provide secured term capital solutions that create liquidity and provide flexibility.”
– Ryan Bohlert, the origination lead and Managing Director at Stonebriar
“This transaction is another example of Stonebriar’s ability to be nimble and provide meaningful capital to businesses with essential-use assets and defensible market leading positions. We are confident in the Sponsor’s ability to grow the existing business and continue serving its long-standing customer base.”
– Nicholas Sandler, Stonebriar’s President
