Sallyport Commercial Finance provided a $2 million accounts receivable facility to a business that operates in the oil and gas sector, hauling waste water from oil wells and then disposing the waste water in their disposal sites.
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As part of an acquisition solution, Sallyport and a partnering equipment lender supplied the needed capital required to close the transaction and provide ongoing working capital. The new owners will continue to service the existing clients and have the ability to expand and grow with Sallyport’s support.
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“Sometimes an unusual set of circumstances come together to create an opportunity. The team assembled for this acquisition helped us get over a couple of deal points that would usually be deal breakers for any lender. Sallyport was very happy to take the long view and back the acquisition Team,” says Nick Hart, president.
Forward for Specialty Finance
