Daily News: February 13, 2012

Capital One Closes $10 Million Revolver for Teton Buildings

Capital One Bank announced it closed a three-year $10 million revolving credit facility to Teton Buildings, LLC, a manufacturer of remote workforce facilities and modular buildings. Proceeds of the facility will be used for ongoing working capital needs.

“We are very pleased to establish a relationship with Capital One Bank,” said Chris Braun, CEO and co-owner of Teton Buildings, LLC. “The bank’s expertise and commitment to helping us address our financing needs set it apart. This new line of credit will help us to expand our business, and we look forward to continuing this growth through our relationship with the Capital One Bank team.”

Teton Buildings, LLC, a portfolio investment of FirstCity Crestone, LLC, has provided the petroleum and gas industries with superior workforce accommodations for over a half century. The company is headquartered in Houston, TX and also operates facilities in Casper, WY.

“Capital One Bank is dedicated to providing solutions that meet our clients’ unique financing needs, and we look forward to partnering with Teton Buildings, LLC, to support its growth strategy,” said Mike Ehlert, senior vice president and Southwest regional manager of Capital One Leverage Finance. “We were particularly impressed by the management team and the strong partnership between Teton Buildings, LLC and FirstCity Crestone, LLC.”