Cole Taylor Business Capital Funds $5mm Credit Facility For Mac
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Cole Taylor Business Capital, a department of Cole Taylor Standard bank, is pleased to mention it lately provided an $8 million older revolving credit facility tó Fairview, Oklahoma baséd Cimarron Acid solution Frac LLC (CAF). CAF is definitely a top provider of pressure pumping services to the midcontinent oil and gas industry. The business provides acidizing, hydraulic fracturing, and various other well stimulation providers to major independent seek and manufacturing oil companies. CAF can be a portfolio corporation of Annapurna Capital Management, a multi-strategy hedge fund that can make private equity ventures and is usually a global macro-oriented registered Commodity Pool User. Annapurna provides areas in Greenwich, Connécticut and Nashville, Tennessee. Iroquois Capital Group acted as both investment banker and freshman capital company to CAF. The financing hand of Iroquois Funds Group, Iroquois Financial Companions (IFP), structured in Nashville, Tennessee, provides link and longer-térm credit to profitabIe smaller middle marketplace debtors in diverse sectors.
Commenting on the transaction, CAF main financial official, Mack Renner mentioned, “The bankers included in this purchase exhibited a solid understanding of our businéss and a perception in our eyesight of what CAF can obtain. We are usually happy to become customers of Cole Taylor Business Capital and Iroquois Financial Partners and we appear forward to a long lasting, mutually helpful partnership.” Annapurna Managing Companion, Marshall Brandt, included, “We couldn't become more delighted with our financing companions in this transaction.
This is usually a main milestone for CAF and positions the business for even more great issues in the potential future.” Cole Taylor Company Capital is certainly the resource based financing division of Cole Taylor Bank. Cole Taylor Business Capital seeks asset-based lending opportunities in the $5 million to $50 million variety and is definitely offering dedicated syndication possibilities of up to $100 million.
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