Daily News: September 21, 2018

Amerisource Closes $2MM ABL for Oilfield Services Firm


Amerisource Business Capital closed a $2 million credit facility for a recently acquired oilfield services and heavy-haul trucking company based in Texas.

Proceeds of the facility were used to leverage the new private equity sponsor’s investment and to provide working capital for growth.

“With the current growth in the energy industry, the M&A market is hot. This group originally secured a term loan facility, but quickly realized an ABL revolving line was needed to support a sustained growth model. The company was attracted to our scalable ‘floating’ line, as our clients will not outgrow our lending capabilities. We are excited about this new relationship and look forward to meeting their growth financing needs,” said Nic Wagner, Amerisource regional market manager.