Blue Tide, a North American producer of re-refined Group II+ base oils and portfolio company of Tailwater Capital LLC, today announced the successful upsizing of its revolving credit facility. Texas Capital led the transaction, with Origin Bank joining as a lending partner to support Blue Tide’s expanded financial needs.
Blue Tide initially secured a facility with Texas Capital in April 2024 to support initial operations of its used motor oil (“UMO”) processing unit and provide additional flexibility during construction of its hydrotreater. With base oil production now successfully underway in Baytown, Texas, the additional funding will support working capital and further expansion initiatives as Blue Tide shifts into full-scale operations.
“This expanded credit facility reinforces Blue Tide’s financial strength and positions us for continued growth across the continent,” said Terry McHugh, CEO of Blue Tide. “Texas Capital has been a valued partner, and we’re pleased to welcome Origin Bank as we enter our next phase. We’re confident that this capital will provide the flexibility needed to enhance operational efficiencies, expand our production capabilities, and position us for long-term industry success.”
“It was an honor to work alongside Blue Tide’s best-in-class management team and to lead this increased credit facility to help facilitate the Company’s continued growth,” said Casey Lowary, Managing Director at Texas Capital.
The upsized credit facility marks an important milestone for Blue Tide, reinforcing its ability to successfully execute complex projects through completion and establish a significant presence in an increasingly relevant market.
