Wingspire Capital provided $30 million as part of a larger senior secured revolving credit facility for A Crane Rental, LLC.
A Crane Rental is a provider of full-service infrastructure with a modern fleet of rental crane equipment and heavy lifting solutions for commercial construction, industrial maintenance, oil and gas, wind and energy, and other industries. With eight strategically located branches in the Eastern United States, A Crane’s fleet includes hydraulic truck cranes, all terrain cranes, crawler cranes, rough terrain cranes, and boom trucks, along with related services such as lift planning, warehousing and heavy hauling transportation.
Proceeds from the new revolving credit facility are being used to refinance the company’s previous facility while also providing significant additional liquidity and flexibility to support growth.
“We are proud to provide a creative and flexible capital solution to A Crane so it can meet the critical infrastructure needs of its customers in oil and gas, construction and other essential industries,” said Brian Scully, Managing Director at Wingspire Capital.
Wingspire Capital worked alongside Great Rock Capital, the administrative agent, and co-lenders Ares Commercial Finance and InterVest capital partners on the financing.
