Armory Securities announced that CherCo, LLC has completed a new financing consisting of a $55 million senior secured term loan and $5 million of equity. Armory served as financial advisor and placement agent to CherCo for the transaction.
The financing transaction supports the acquisition of assets by a seasoned management team and provides ongoing liquidity for CherCo to execute on its growth plans.
With the acquisition, CherCo becomes a premier energy infrastructure services company providing contract compression, innovative ESG solutions, and aftermarket services to upstream and midstream operators in Texas, New Mexico, Oklahoma, and Louisiana.