Healthcare United States
eCapital Fuels Energy Services Company with $30 Million ABL Facility
Transaction Details
- $30MMFUNDEDPRODUCT
- Energy
INDUSTRY- North Dakota, USA
LOCATIONNovember, 2024An established energy services company required flexible financing and found the perfect solution with eCapital. The $30 million asset-based lending (ABL) facility will support a significant Employee Stock Ownership Plan (ESOP) transaction, marking a pivotal milestone in the company’s transition to employee ownership and its commitment to workforce empowerment.
The complexity of this deal required a lender with in-depth knowledge of both the energy services industry and the intricacies of employee ownership structures, which eCapital provided through its specialized financing and industry experience.
“This was a highly competitive transaction, and our strong client relationship, coupled with deep industry knowledge, gave us the edge,” said Brian Cuttic, CEO of ABL at eCapital. “By structuring the ABL facility around the company’s accounts receivables and specialized equipment, we provided the flexibility needed to manage the demand and cyclical variations in job volume – challenges common in the energy services sector.”
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