Republic Business Credit Provides a $5.5 million Ledgered Line of Credit to a Texas-Based Oil Field Service company

Republic Business Credit partnered with a private equity sponsor to refinance the bank credit facility of a portfolio company

NEW ORLEANS (PRWEB) June 21, 2022

When a Texas-based manufacturing company needed a working capital facility to meet increased demand in the energy sector, it sought a trusted and reliable partner to fuel its growth plans. Republic Business Credit collaborated with private equity sponsors to structure a factoring facility that doubled its availability while maintaining the treasury management services as the incumbent bank. Republic was referred into the credit facility by several partners across the private equity, independent sponsor, and asset-based lending community.

Republic was selected for its expertise, reputation, and long-term support of the oil field service industry. Additionally, Republic Business Credit worked with the company and private sponsor over several years to time up the refinance to take advantage of market conditions and opportunities.

The CEO of the company said, "Republic worked with us over the years through the normal ups and downs of the energy industry, so it was ideal and easy to partner with an entrepreneurial finance company during an uncertain but potentially opportunistic market for us."

The manufacturer was formed through an initial acquisition and a series of smaller add-on acquisitions in the oil field service industry, with the aim of vertically integrating both the product and service suite of solutions to energy companies located throughout Texas and Louisiana.

The company is able to provide manufacturing, installation, welding, fabrication, and repair services across its client base. The flexibility to focus its efforts across the suite of products uniquely situated it to outperform its competitors during the downturn and take advantage of the opportunities during a rebound in energy prices.

The oil field service company is led by a dynamic and experienced management team that has been successful in the oil field industry for decades. The company prides itself on a diverse customer base that includes both energy and non-energy dependent customers that seek added value partners in the supply chain.    

Republic provided a $5.5 million Ledgered Line of Credit Facility to provide funding for their payroll, material costs, equipment repair, and the acquisition of new assets to match their increased demand forecast in 2022. "Companies working in the Permian and Eagle Ford shale basins are challenged by unprecedented supply and demand issues," said Robert Meyers, President of Republic Business Credit. "We have always been supportive of customers in the oil field industry, so we are able to understand the rapid growth demands combined with the uncertainty and unpredictability of present market conditions."

Leigh Guglielmo, SVP of Business Development and recent Women in Secured Finance award winner, added, "We partner with many of the downstream and midstream service firms to support the largest employer of our communities across the Gulf Region and it was great to partner with another well-run company."

Republic Business Credit partners with banks, accountants, private equity sponsors, independent sponsors, lawyers and investment banks to collaboratively support entrepreneurs across the United States, to create value, by enabling them to focus on growing successful businesses

About Republic Business Credit. Republic is a national provider of working capital facilities to private equity and entrepreneurial-owned businesses. Republic provides asset-based lending, ledgered lines of credit, traditional factoring, direct-to-consumer loans, factoring, and Fast AR Funding. Republic partners with its clients to provide up to $12 million in senior credit facilities to rapidly growing businesses, start-ups and companies experiencing recoverable distress. Nationally recognized as Winner of the 2015 Emerging Growth Company of the Year award from the Association of Corporate Growth, Republic's expert and the knowledgeable team boasts four "Top 40 Under 40" winners, two "Top Women in Secured Finance" and a "Top Women in Asset Based Lending" by the Secured Finance Network and ABF journals respectively. Republic is recognized by the Secured Finance Network as one of the largest independently owned finance companies in the United States of America. The company is proudly headquartered in New Orleans, La., with client service offices in Los Angeles, Houston, and Chicago.

For the original version on PRWeb visit: https://www.prweb.com/releases/republic_business_credit_provides_a_5_5_million_ledgered_line_of_credit_to_a_texas_based_oil_field_service_company/prweb18748829.htm

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