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Structured CreditFebruary 13, 2017

Super G Provides Multi-Tranche Second Lien Growth Capital Facility to Lease Crew Services Company

The Company:

Company provides lease crew services and equipment rentals to leading exploration and production companies in South and West Texas.

The Financing Situation:

The Company was seeking growth capital in addition to its existing asset based financing. The Company had equipment financing in place as well as a flexible factoring arrangement with FarWest Capital and could not unlock additional availability from its existing collateral. The Company needed to raise equity or find an airball (stretch piece) financing solution based on cash flow and enterprise value.

The Solution:

Super G was able to quickly get comfortable with the Company’s growth plans and management team to close on a multi-tranche growth capital facility that solved the Company’s immediate and future capital needs. Super G worked closely with the Company’s existing lender, FarWest Capital, to finalize an intercreditor agreement and fund the Company quickly.

For more information on FarWest, please contact:

Jason Lippman
Executive Vice President