White Oak Commercial Finance (WOCF), an affiliate of White Oak Global Advisors, provided a $25 million senior secured ABL facility to Rango, a national mining services provider. Proceeds will be used to refinance existing indebtedness and support the ongoing working capital needs of the business.
“We’re pleased to have completed this refinancing with WOCF, which enhances our financial flexibility and strengthens our capacity to pursue new mining projects,” Scott Bostwick, chief financial officer at Rango, said. “This new structure positions us to execute reliably in the field while investing in the equipment, workforce and infrastructure needed for continued growth.”
Andre Hakkak, co-founder and CEO of White Oak Global Advisors, added, “Rango represents the type of essential business that drives industrial activity and economic growth across the U.S. We are proud to support the company with a flexible financing solution that enhances its ability to invest in operations, expand capacity and continue delivering critical services to its customers.”
Albert Brandano, partner at White Oak Global Advisors, said, “The team at Rango has built an impressively scaled business centered around operational excellence. We are excited to be partnering with them during Rango’s next stage of growth.”
David Montiel, managing director for underwriting at WOCF, said, “This transaction reflects our ability to structure ABL solutions for capital-intensive businesses with dynamic working capital needs. We look forward to supporting Rango as it continues to execute across its project base.”
