Platinum Equity led a new and upsized Second-Lien Term Loan for Railway Equipment Leasing and Maintenance Inc. ("RELAM") to refinance the company's existing indebtedness and support future growth of the business.

RELAM is a provider of specialty rental equipment for recurring, regulatory-driven maintenance-of-way ("MOW") work on railroads, serving the industry's largest operators and contracted service providers.

"RELAM has been a great partner and the company continues to perform," said Platinum Equity Co-Presidents Jacob Kotzubei and Louis Samson in a joint statement. "As an incumbent lender who knows the business, the leadership team and the sector, we were in a great position to provide RELAM a refinancing solution that meets the current and future needs of the company and its sponsor."

The RELAM financing is led by Platinum Equity's dedicated credit team, which seeks opportunities to provide debt capital to companies for a variety of uses, including acquisitions, refinancings and recapitalizations.

"Our goal is to forge meaningful long-term partnerships with borrowers in which we can add real value and earn the right to provide solutions for whatever they need time and again," said Platinum Equity Managing Director and Global Head of Credit Michael Fabiano. "RELAM has been a great fit for our approach. We are enthusiastic to partner with Paceline again and continue supporting RELAM's next phase of growth."

Houlihan Lokey acted as the exclusive placement agent to RELAM. Phoenix Merchant Partners participated in the financing alongside Platinum Equity.