1836 Completes Debt Placement on Drilling Company Buy
1836 Capital announced it completed a $15 million debt placement on the acquisition of a well drilling and maintenance company in West Texas. 1836 was engaged by a private equity firm to assist with the leveraged buyout of the oilfield service company and placed a term loan and a revolving debt facility.
“There is a lot of activity in the oil patch and this was an exciting opportunity to help the client complete the acquisition. We identified the financial partner and successfully negotiated the facility. This included both the acquisition capital as well as working capital to fund its continued growth,” said Jonathan Collura, managing director of 1836 Capital. This opportunity accentuates the specialization that we have in the oil and gas industry.”