Great American Capital Partners, a subsidiary of B. Riley Financial, closed an agreement with Legend Energy Services to provide a $25 million delayed draw senior secured term loan. Proceeds from the loan will be used to acquire machinery and equipment.

“The oil and gas sector is at a meaningful inflection point with crude oil prices rising. Hydraulic fracturing, or fracking, specifically, has reshaped the global energy landscape, and continues to fuel a dramatic boom in U.S. oil production,” said John Ahn, president at GACP.

“Legend Energy is well positioned to execute its growth plan in 2017 and going forward, and we are very excited about this partnership.”

Oklahoma-City based Legend Energy Services is a provider of coiled tubing and pressure pumping services to the U.S. oil and gas industry.