Eclipse Business Capital provided a $77.5 million senior secured credit facility consisting of a $50 million revolving credit facility, a $12.5 million M&E term loan facility and a $15 million term loan B facility to Ranger Energy Services.
Jim Gurgone joined Eclipse Business Capital as chief risk officer. In this role, Gurgone will oversee Eclipse’s credit processes for its existing portfolio management verticals in addition to providing input into new opportunities and strategies.
With an expanded capital base and a new funding partner in Barings, Encina Business Credit (now Eclipse Business Capital) is taking the next step on its growth trajectory, but as much as things change, the company’s successful approach to the market will stay the same.
Kaspien Holdings entered into an amended loan agreement with Eclipse Business Capital. Kaspien previously entered into a loan agreement with Eclipse (then operating as Encina Business Credit) for up to $25 million in loans under a three-year, secured revolving credit facility.
Ranger Energy Services received a debt commitment letter from Eclipse Business Capital for a new $77.5 million credit facility consisting of a $50 million revolving credit facility, a $12.5 million M&E term loan facility and a $15 million term loan B facility.
Eclipse Business Capital, formerly known as Encina Business Credit, provided a $100 million senior secured revolving credit facility to a global electronic component sourcing and distribution company.
Encina Business Credit announced a recapitalization and an expanded capital base provided by affiliated funds of Barings along with participation from Encina management. In conjunction with the recapitalization, Encina changed its name to Eclipse Business Capital.