MidCap Business Credit closed a $6,500,000 asset-based revolving line of credit for Horizon Mud Company headquartered in Midland, TX.  Horizon Mud sells chemicals and provides engineering and project management services into the oil and gas industry.

The opportunity was sourced out of Midcap’s office located in Dallas, TX. Bill Nay, Senior Vice President of MidCap Business Credit said, “We were able to provide the company with a deal structure which will allow them the flexibility they need to execute on their strategic plan and support their growth.”
 
Luke Blackwell, CEO of Horizon Mud stated, “MidCap learned our business quickly and was extremely well organized and provided excellent communication throughout the process.  The closing was the smoothest of any transaction I have handled.”

MidCap Business Credit provides asset-based credit facilities to lower and middle market businesses nationwide, who have borrowing requirements from $2MM to $20MM.