Great Rock Capital closed a $34.2 million senior secured credit facility with Blaschak Anthracite, a portfolio company of Milestone Partners. Blaschak is a producer of ultra-high-grade anthracite, a solid fossil fuel and carbon source.
The bespoke credit facility, which includes a revolver, a term loan and a delayed draw term loan, refinanced a portion of Blaschak’s existing debt and will support the future acquisition and capital expenditure needs of the business.
“With the increasing global demand for our product, Blaschak needed a financial partner who realized our near-term growth potential,” Boyd Kreglow, CEO of Blaschak, said. “Great Rock quickly understood our competitive edge and customized a financing solution that will provide the necessary liquidity to execute on our strategic expansion initiatives.”
“The high-quality leadership of Blaschak’s management team, coupled with their long-standing partnership with Milestone Partners, has positioned the company as an industry-leader in the United States,” Stuart Armstrong, CEO of Great Rock Capital, said. “Their strategic expansion plan will continue to drive the growth of this business, and we look forward to being a part of their future success.”
“Our partnership with Blaschak has thrived over the last 13 years,” Scott Warren, managing partner at Milestone Partners, said. “The liquidity and flexibility provided by Great Rock’s credit facility will allow Blaschak to unlock future growth potential.”
