MidCap Business Credit closed on a $9 million asset-based credit facility for Titan Production Equipment, headquartered in The Woodlands, TX. MidCap sourced the opportunity out of its Dallas office.
Titan Production Equipment designs, engineers and manufactures surface production equipment, focusing on filtration and dehydration units and serving the oil and gas industry.
“We’re excited to partner with Titan and help them achieve their strategic vision for the business,” Bill Nay, senior vice president of MidCap Business Credit, said.
“We look forward to the value MidCap adds to the business to enable Titan to achieve our growth potential in the oil and gas market,” Larry Lucas, CFO of Titan Production Equipment, said.
