Utica closed an $11 million capital lease for a vertically integrated construction, trucking, turf-farming and materials group operating throughout the mid-Atlantic region. Secured by a broad pool of heavy equipment including trucks, trailers, dozers, excavators, graders, loaders and turf-farm machinery, this financing will be used to refinance existing equipment and other debt and to provide working capital across the enterprise.
The lease supports core site-work, land development, trucking and turf production services and will consolidate multiple existing lender relationships into a single financing facility. The transaction is expected to generate meaningful annual debt-service savings and improve liquidity, enabling the group to pursue backlog projects and maintain uninterrupted operations across dozens of active job sites in the region.
