Daily News: March 21, 2014

Cole Taylor Provides Cimarron Acid & Frac Revolver

Cole Taylor Business Capital announced it recently provided an $8 million senior revolving credit facility to Fairview, Oklahoma based Cimarron Acid & Frac (CAF).

Iroquois Capital Group acted as both investment banker and junior capital provider to CAF. The lending arm of Iroquois Capital Group, Iroquois Financial Partners (IFP), based in Nashville, Tennessee, provides bridge and longer-term credit to profitable lower middle market borrowers in diverse industries.

CAF CFO Mack Renner said, “The bankers involved in this transaction demonstrated a strong understanding of our business and a belief in our vision of what CAF can achieve. We are proud to be customers of Cole Taylor Business Capital and Iroquois Financial Partners and we look forward to a long-term, mutually beneficial relationship.”

Marshall Brandt, Annapurna managing partner, added, “We couldn’t be more pleased with our financing partners in this transaction. This is a major milestone for CAF and positions the company for more great things in the future.”

CAF, a portfolio company of Annapurna Capital Management, is a provider of pressure pumping services to the midcontinent oil and gas industry.