PNC Provides $150MM Revolver to Emerge Energy Services
PNC announced a $150 million syndication of a senior secured revolving credit for Emerge Energy Services (EMES). In addition, PNC provided treasury management and institutional investment products. PNC Capital Markets led the syndication of this deal. The facility was used to refinance debt and for general corporate purposes.
EMES was sponsored by Insight Equity, a mid-market private equity investment company. EMES does business primarily through its subsidiaries, Superior Silica Sands, Allied Energy Company and Direct Fuels. The company owns frac sand mining and processing operations in New Auburn, WI, Barron County, WI and Kosse, TX. Its fuel processing and distribution segment operates from the Dallas-Fort Worth metropolitan area and Birmingham, AL.
PNC loans and treasury management products and services are provided by PNC Bank.