WhiteHawk Capital Partners, a private credit investment manager focused on asset-based financing solutions, entered into an agreement with CherCo to provide a $55 million asset-based credit facility. CherCo will use the proceeds of the financing for acquisitions of assets and service contracts, and to provide ongoing liquidity to execute on growth plans.
CherCo is an energy infrastructure company focused on contract compression services serving midstream and upstream operators in Texas, Oklahoma, Louisiana and New Mexico. The use of this facility is intended to allow CherCo to expand its contract compression services in the regions it services.
“WhiteHawk has been a creative and value-add financing partner that enables the Company to seek to become a regional market leader for contract compression services from 50 to 1775 horsepower,” Chet Erwin, CEO of CherCo, said.
“We believe CherCo management is well positioned to execute in an attractive contract gas compression market with an excellent fleet of assets that are in high demand,” Rob Chimenti, managing director of WhiteHawk, said.
