MidCap Business Credit closed on a $6.5 million asset-based revolving line of credit for Horizon Mud Company, which headquartered in Midland, TX.
Horizon Mud sells chemicals and provides engineering and project management services for the oil and gas industry. This financing opportunity was sourced out of Midcap Business Credit’s office in Dallas.
“We were able to provide the company with a deal structure which will allow them the flexibility they need to execute on their strategic plan and support their growth,” Bill Nay, senior vice president of MidCap Business Credit, said.
“MidCap learned our business quickly and was extremely well organized and provided excellent communication throughout the process,” Luke Blackwell, CEO of Horizon Mud, said. “The closing was the smoothest of any transaction I have handled.”
