Ranger Subsea and its parent company, Houston-based Ranger Offshore, will use the new facility to expand its operations off the coast of Lagos, Nigeria. Ranger Offshore is a portfolio company of Dallas-based private equity firm SunTx Capital Partners. FocalPoint Partners acted as the debt and financial advisor for the transaction.
David Grende, president and CEO of Siena Lending Group, said, “We are very pleased to provide the credit facility to Ranger Subsea Nig to support their growth and expansion in Nigeria. We were able to respond quickly to the request and to deliver a commitment and closing within the timeframe requested by the company.”
Chris Guinta, a director of Ranger Subsea, said, “We are pleased to have established the credit facility and look forward to expanding the relationship with Siena in the future.”