Utica Leaseco announced it closed and funded two new capital lease transactions for a total amount of $2.7 million during the week of June 22, 2015.

A $900,000 transaction helped provide needed working capital for an oilfield services company operating in Utah and Wyoming. The company specializes in moving and maintaining heavy oil rigs. Utica was able to provide the needed capital by unlocking the equity that existed in the company’s heavy trucks and trailers. Utica worked closely with the company, its management and was able to close the needed funding on an expedited basis. Utica relied solely on the company’s equipment to fund the transaction.

Utica Leaseco also completed a new capital lease transaction in the amount of $3.6 million during the week of June 22, 2015. Utica acted as arranger and funded 50% of the deal. The transaction helped provide needed funding for a recapitalization of their business. Utica closed and funded the transaction for this pumping equipment rental company operating in Ohio and Texas. The company provides state of the art water pumps to the oil and gas and construction industries. Utica relied solely on the company’s equipment to fund the transaction.