MidCap Business Credit completed a $12 million asset-based credit facility for Responsible Energy Operations, a thermal coal mining and processing business headquartered in Petersburg, IN. The opportunity was sourced out of MidCap’s headquarters in West Hartford, CT.
“We were able to provide a flexible asset-based credit facility to provide the necessary working capital to enable the company to execute on its strategic plan,” Seth Cooper, senior vice president of MidCap Business Credit, said.
“The REO team is pleased to close our transaction with MidCap,” John Mick, CFO of Responsible Energy Operations, said. “Our team worked closely with the MidCap professionals to conclude an outstanding financial tool to facilitate our growth and success at REO.”