Crystal Financial closed a senior secured term loan for Circle 8 Crane Services as part of a broader recapitalization of the business led by Trive Capital.

Founded in 2007 and based in Corpus Christi, TX, Circle 8 is one of the largest operated crane and equipment rental businesses in the Southern U.S. The company’s owned and operated machinery is used by a wide variety of businesses in the oil and gas, commercial and industrial sectors.

“Crystal demonstrated the ability and appetite to provide capital to a business navigating a challenging macro environment. They shared our vision and confidence in Circle 8’s ability to stabilize their business and expand into other markets. We look forward to a long-term, productive relationship,” said Shravan Thadani, vice president, Trive Capital.

Trive Capital is a Dallas-based private equity firm investing in equity and debt securities with more than $1 billion in assets under management.