White Oak Commercial Finance recently closed two new asset-based loan facilities totaling $45 million for Houston-based service businesses. The first financing was for a provider of environmental clean-up services and industrial safety solutions, and the other went to a growing company in the oilfield service sector.

White Oak has provided the environmental service company with a $20.75 million, three-year facility that will enable the company to refinance and consolidate debt, make needed equipment purchases and satisfy the working capital demands of the business. This credit facility will meet the needs of the business today and provide for future growth.

White Oak also provided a $25 million asset-based facility to a company providing both wireline and artificial lift services for oil well operators. This company is owned by a major private equity fund and is experiencing strong demand for their services. The facility will be used to support working capital growth and future expansion into new markets demanding this crucial service.

White Oak was the sole lender for both transactions.

“An increasing number of companies in the middle market are turning to WOCF to support their business objectives and growth,” said Robert Grbic, president and CEO pf White Oak Commercial Finance. “Our deep expertise in complex financing structures, combined with our creative and flexible approach, makes us an attractive partner to organizations that require quick access to financing.”

Gerard Hanabergh, managing director at White Oak Commercial Finance, said, “The WOCF platform is proving to be extremely attractive to services companies across a variety of industries in need of working capital solutions. Our strong underwriting capabilities, combined with an experienced management team and the fact that we are not tethered to a bank, is a powerful combination that is resonating in the marketplace.”

White Oak Commercial Finance, formerly Capital Business Credit, was acquired by White Oak Global Advisors on behalf of its institutional clients in late 2016.