eCapital, a tech-enabled finance provider specializing in tailored solutions for businesses across North America and the United Kingdom, has secured a $45 million asset-based lending facility for a privately held energy services company based in Texas.
After six months with a previous lender that could not meet growing requirements, the client, a company in specialized well services, provides technology-focused products across the energy sector, transitioned to eCapital on the recommendation of a private equity partner. Leveraging accounts receivable and equipment, eCapital aims to enhance the client’s financial capacity.
“When the client’s previous lender was unable to keep pace with their evolving needs, we stepped in to understand their unique challenges and structured a comprehensive deal that addressed their immediate liquidity requirements while supporting their drive to scale,” Brian Cuttic, CEO, ABL at eCapital, said. “The trust placed in our team speaks to our focus on delivering finance strategies that empower our clients to thrive.”
