Daily News: January 29, 2013

US Capital Provides $22MM for Oilfield Services Firm

US Capital Partners provided $22 million in financing for a fast-growing US firm in the oilfield services sector, headquartered in Oklahoma.

The company provides work-overs and construction for oil and gas wells, completions, acid services roustabouts, equipment transportation services, and water services.

US Capital Partners is a private investment bank that makes direct debt investments, participates in debt facilities, and arranges equity placements for small to lower middle-market companies.

“We are delighted to have supported this fast-growing business in the energy industry,” said Jeffrey Sweeney, CEO and managing director at US Capital Partners. “The company approached US Capital Partners on account of our flexibility and ability to structure complex transactions in a short window of time. On the basis of an audit and appraisal we ordered, we were able to structure a $5 million accounts receivable line of credit, a $5 million bridge term loan, and a $12 million machinery and equipment term loan for the company.”