Cole Taylor Business Capital announced the funding of a $10.94 million senior debt facility to Y-T Holdco in support of its acquisitions of Thorco Holdings and Young Oil Tools by Y-T Holdco.
Y-T Holdco is a holding company formed in partnership with the management of Thorco by PCP Management, a Tulsa, OK-based private investment firm, and Imperial Private Equity, a Dallas-based private investment firm.
Thorco Holdings is a distributor of pressure control devices, liquid level gauges, analyzers and control valves used to control pressure, liquid levels and flows primarily in the oil and gas industries.
Centerfield Capital Partners, an Indianapolis-based mezzanine fund, provided subordinated debt and equity co-investments. Cary Street Partners acted as financial advisor to Y-T Holdco.