Encina Private Credit served as Administrative Agent and Collateral Agent for a Senior Secured Credit Facility supporting H.I.G. Capital’s acquisition of Penhall Company, North America’s largest provider of specialty concrete services. Marathon Asset Management led the facility.
 
“We are extremely excited to partner with Penhall, H.I.G. Capital, and Marathon Asset Management by delivering our unique suite of lending capabilities in the form of First Out financing,” said Mike Hensinger, President and Chief Executive Officer at Encina Private Credit.
 
Headquartered in Irving, Texas, Penhall has a network of over 40 branch and service locations throughout the United States and Canada. Since its founding in 1957, the Company has served over 160,000 clients across a broad range of end markets including commercial, residential, industrial, and infrastructure. Penhall provides a full range of concrete services, including cutting and coring, specialized demolition, GPR concrete scanning, digital X-ray, utility locating, fiber-reinforced polymer (FRP), grinding and grooving, and bridge services.