Daily News: May 3, 2012

Cole Taylor in New $7.3MM Facility for H2X

Cole Taylor Business Capital announced the funding of a $7.3 million facility for H2X, a Decatur, TX based company. H2X provides hydro-excavation services to energy, utility and construction companies. Proceeds of the facility will be used to consolidate debt and fund ongoing growth.

H2X was acquired by Alpine Pacific Capital in 2011. Alpine Pacific Capital is a private equity firm with offices in Orange County, CA and Seattle, WA. They focus on closely held, profitable business located in the Western Region of the United States.

“CTBC really took the time to understand H2X’s industry, the growth in the industry and how that related to H2X. They delivered a flexible, tailored capital structure that accommodated our growth strategy. The team at CTBC was thoughtful, agile and efficient in working with us and our management team to create the optimal credit facility to execute our growth initiatives,” says Gerik Degner, partner at Alpine Pacific Capital.