White Oak Commercial Finance announced it has provided a $25 million senior secured asset-based lending facility to Rango, Inc., a national mining services provider headquartered in Mesa, Arizona.
The financing proceeds will be used to refinance existing debt obligations and support the company’s ongoing working capital requirements as it continues expanding operations across the United States.
Founded in 2012, Rango, Inc. operates a diversified mining services platform spanning 13 states and serving industries including aggregates, precious metals, and frac sand. The company provides outsourced mining services designed to support operational efficiency, reliability, and safety across mining projects.
According to the companies, the new financing structure is intended to enhance Rango’s financial flexibility and support investments in equipment, workforce expansion, infrastructure, and additional mining projects as customer demand evolves.
White Oak Commercial Finance is an affiliate of White Oak Global Advisors and provides asset-based lending, factoring, inventory financing, supply chain financing, government contract financing, and related commercial finance solutions. Since its founding in 2007, White Oak and its affiliates have deployed more than $22.5 billion across various lending products.
KEY QUOTES:
“We’re pleased to have completed this refinancing with WOCF, which enhances our financial flexibility and strengthens our capacity to pursue new mining projects. This new structure positions us to execute reliably in the field while investing in the equipment, workforce and infrastructure needed for continued growth.”
Scott Bostwick, CFO, Rango, Inc.
“Rango represents the type of essential business that drives industrial activity and economic growth across the U.S. We are proud to support the company with a flexible financing solution that enhances its ability to invest in operations, expand capacity and continue delivering critical services to its customers.”
Andre Hakkak, CEO And Co-Founder, White Oak Global Advisors
“The team at Rango has built an impressively scaled business centered around operational excellence. We are excited to be partnering with them during Rango’s next stage of growth.”
Albert Brandano, Partner, White Oak Global Advisors
“This transaction reflects our ability to structure ABL solutions for capital-intensive businesses with dynamic working capital needs. We look forward to supporting Rango as it continues to execute across its project base.”
David Montiel, Managing Director For Underwriting, White Oak Commercial Finance
