Tiger Finance closed on a $13.75 million term loan for Waller, TX-based Laney Directional Drilling, a trenchless construction and engineering firm known for its drilling operations on infrastructure projects.
The transaction, which closed on Dec. 27, comes at a time of increased demand for Laney Directional Drilling’s specialized services, according to David Kennedy, senior associate at Tiger Finance.
“After decades in the oil and gas sector, Laney Directional Drilling expanded its focus to assisting owners, contractors, municipalities, project developers and engineers with long, complex and challenging trenchless crossings on infrastructure projects in the power, wind and water sectors,” Kennedy said.
Laney Directional Drilling specializes in horizontal directional drilling, a trenchless method of installing pipelines and conduits, as well as the direct pipe method, which is used for crossings under levees and environmentally sensitive areas, as well as for outfall or shore approach applications. To date, Laney has completed 2,800 trenchless crossings and more than 1,000 miles of trenchless pipeline installations.
“We are excited to partner with Tiger for the next phase of growth at Laney,” Jim Katosic, senior vice president and CFO at Laney Directional Drilling, said. “Tiger recognized the potential in the sector for the foreseeable future and provided the necessary liquidity to meet the pending demand for our services.”
“Laney has all the in-house expertise needed to carry out the engineering, spec work and execution on highly specialized, complex infrastructure projects,” Bob DeAngelis, executive managing director at Tiger Finance, said. “They are well positioned for growth and this transaction is an excellent example of how Tiger’s understanding of the sector and assets provided the best structure to support that growth.”
