Garrington Capital  closed a $21 million senior credit facility to a best in class provider of integrated services and specialty fabrication solutions.

The borrower is a full-service industrial contractor providing a broad array of services to the refining & petrochemical, transmission & terminal, exploration & production, and power generation industries. The company is capable of executing complete project scopes including procurement, fabrication, field construction (Civil, Structural, Electrical & Instrumentation, Mechanical) and project management services. It currently is operating at four locations along the Texas Gulf Coast.

The facility includes a $15 million revolver secured by working capital assets, up to a $4 million term loan secured by equipment and a $2 million capex loan. The borrower used the Garrington facility to refinance certain debt and provide the borrower with working capital to continue to fund its projected growth. The borrower chose Garrington because we were able to provide the various components of their requirements in one facility.