Great Rock Capital, an asset-focused commercial finance company specializing in middle market lending, closed a $75 million senior secured credit facility for Pacific Ag, a crop residue harvesting and supply company in North America.
The new capital refinanced the company’s existing senior debt, supported a strategic acquisition and will provide Pacific Ag with additional liquidity to support their growing platform. The bespoke debt facility includes a revolver, a term loan and a delayed draw term loan.
“Pacific Ag has pioneered large scale harvest and supply of crop residue in North America, providing additional income for growers and innovative feedstock solutions for its end-use markets,” Bill Levy, founder and CEO of Pacific Ag, said. “Today, with the support of Great Rock Capital’s credit facility, we streamlined support for operations, expanded our footprint and service offerings and are well-positioned to capitalize on the growth opportunities that lie ahead.”
“Great Rock is pleased to provide this successful company with new growth capital to execute on their strategic initiatives,” Stuart Armstrong, CEO of Great Rock Capital, said. “We look forward to working with this best-in-class management team, as they expand their industry footprint and continue to provide superior feedstock solutions to their customers.”
