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Stonebriar Commercial Finance closes a $30 million term loan facility

Posted 06/25/2019

Stonebriar Commercial Finance announced the closing of a $30 million senior secured term loan facility with a private equity backed oilfield services provider of fluids management, equipment rental and wellsite services to the onshore oil and gas industry.  The facility consists of a $20 million fully funded term loan and a $10 million delayed draw term loan to support the construction of new firm contracted water pipelines.  The loans are secured by substantially all of the borrower’s fixed assets, including the following real and personal property: fluid management systems, water heating and storage equipment, over-the-road assets, rental equipment, pipelines and saltwater disposal wells.

 Reagan Rorschach, Stonebriar managing director, stated, “With the recent and notable growth of onshore oil and gas production, particularly in the Permian and Mid-Con basins, end-to-end fluids management is now more than ever a critical component of a well’s completion and productive life.  Our client provides comprehensive fluids management services from the provision and on-site storage of frac water to the transmission and disposal of flowback and produced water.  We strongly believe in this segment of the oilfield services market and in management’s ability to execute.”  Harrison Smith, Stonebriar investment manager, added, “We take great comfort in this leadership team’s proven ability to manage through cycles, its conservative approach to leverage, and its vision for aggregating the diverse and complementary essential services the company takes to market.”

 About Stonebriar Commercial Finance

Stonebriar’s parent is an Eldridge Industries portfolio company based in Plano, TX, and a leading provider of financing solutions for businesses in a wide variety of industries, of various sizes and credit profiles.  Stonebriar leases and finances assets located primarily in North America and select other jurisdictions worldwide currently through 5 distinct platforms—General Equipment, Aviation Capital, Rail Leasing, Real Estate and Sponsor Finance.  To learn more about Stonebriar Commercial Finance please visit www.StonebriarCF.com

 About Eldridge Industries

Eldridge Industries is a private investment firm specializing in providing both debt and equity capital. Eldridge invests across diversified industries with a focus on media and sports, insurance, real estate development, asset lending and financing, branded food and hospitality, and asset management businesses.  In particular, the firm seeks to build and grow companies led by proven management teams that have demonstrated leadership and experience to scale an enterprise. Eldridge is headquartered in Greenwich, Connecticut, with additional offices in Beverly Hills, New York, and London. To learn more about Eldridge Industries please visit www.Eldridge.com

For more information contact:

Kyle Parks:                  (469) 609-8525           Kyle.Parks@StonebriarCF.com

Reagan Rorschach:     (469) 609-8523           Reagan.Rorschach@StonebriarCF.com

Author
Steven Siler
Organization
Stonebriar Commercial Finance
Phone Number
469-609-8530

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