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Structured CreditNovember 7, 2023

SG Credit Partners Announces $10 Million in DIP Financing to Water Gremlin

SG Credit Partners has provided a commitment for up to $10 million in debtor-in-possession (“DIP”) financing to Water Gremlin, the world’s technological and market leader in battery terminals, to support ongoing manufacturing and distribution as it continues to offer customers consistent quality solutions during its Chapter 11 proceedings. The DIP financing has received interim court approval.  

“SG Credit Partners is pleased to assist Water Gremlin in its efforts to complete a value-maximizing sale transaction by providing the company with DIP financing to help fulfill commitments to its valued employees, customers, and suppliers during the process,” said Carlos Tan, Managing Director of SG Credit Partners. “Assisting with complex situations is the backbone of our business, and DIP loans are a growing part of our expertise and offering. Our clients depend on us for speed and certainty to close, in addition to our structuring creativity, all at commercially reasonable terms for the situation at hand.”