Super G Capital provided a second lien growth capital facility for a Texas-based lease crew services company.

The company provides lease crew services and equipment rentals to leading exploration and production companies in South and West Texas.

It was seeking growth capital in addition to its existing asset-based financing. The company had equipment financing in place as well as a flexible factoring arrangement with FarWest Capital and could not unlock additional availability from its existing collateral. It needed to raise equity or find an airball (stretch piece) financing solution based on cash flow and enterprise value.

Super G was able to close on a multi-tranche growth capital facility that solved the company’s immediate and future capital needs. Super G worked closely with the company’s existing lender, FarWest Capital, to finalize an intercreditor agreement and fund the company quickly.