Great Rock Capital Provides Significant Financing for A Crane Rental
Great Rock Capital recently announced a major financial milestone in its partnership with A Crane Rental, LLC. As a leading private credit firm specializing in middle-market lending, Great Rock Capital has successfully closed a substantial $175 million senior secured revolving credit facility intended to enhance the operational capabilities of A Crane.
A Crane is recognized for its comprehensive services in the crane rental industry, delivering innovative heavy-lifting solutions critical to the construction and industrial maintenance sectors. The financing not only refinances existing debt but also provides the necessary liquidity for A Crane to propel its growth initiatives into the future.
According to Bill McCabe, the President of A Crane, the company has made significant expansions since 2016, boasting one of the most advanced and youngest fleets in the heavy lifting sector. This evolution positions A Crane favorably to meet the growing lifting needs of its customers.
Stuart Armstrong, CEO of Great Rock Capital, expressed excitement about the promising developments at A Crane. He emphasized that the company stands as a benchmark for excellent service and equipment in the infrastructure servicing market. The support of Great Rock Capital is expected to further empower A Crane's strategic initiatives and business growth trajectory.
Understanding the Revolving Credit Facility Structure
The revolving credit facility secured by A Crane is supported by high-quality accounts receivable along with machinery and equipment. This structured approach offers the flexibility to access funds as needed, ensuring A Crane maintains operational efficiency while addressing market demands swiftly.
Co-lenders, including Ares Commercial Finance, Wingspire Capital, and InterVest Capital Partners, play a crucial role in this financing structure, indicating strong confidence from multiple financial partners in A Crane’s growth potential.
The Role of Financial Advisement in the Deal
The London Manhattan Company served as the exclusive financial adviser in this transaction, showcasing the importance of strategic financial partnerships in major funding agreements. With more than three decades of experience, The London Manhattan Company has been instrumental in facilitating substantial capital sourced for its clients, maintaining a robust reputation within the commercial finance industry.
About Great Rock Capital
Great Rock Capital specializes in tailoring financing solutions to meet the unique challenges faced by middle-market firms across North America. With a focus on providing speedy, adaptable, and innovative credit facilities, they strive to ensure companies like A Crane receive the growth capital necessary to thrive in competitive markets.
The company is known for its capacity to offer senior secured credit facilities ranging from $25 million to over $200 million. These facilities are designed to provide unprecedented flexibility compared to traditional commercial banking structures.
About A Crane Rental
A Crane stands out as a full-service provider in the heavy lifting domain, catering to various industries through its extensive fleet. Their portfolio includes all-terrain cranes, crawler cranes, and hydraulic truck cranes, ensuring that they can meet diverse customer needs across the Eastern, Southern, and Central parts of the United States.
A Crane is committed to excellence, employing highly skilled teams that manage projects from inception to completion, including services such as rigging, engineering, and transportation solutions. This commitment to quality and service is what drives their continued growth in competitive spaces like renewable energy and industrial manufacturing.
Great Rock Capital Contact Information
For more information, please contact Jenn Cronin, Managing Director of Marketing and Business Development at Great Rock Capital, at (203) 557-6277.
Frequently Asked Questions
What is the purpose of the $175 million financing?
The financing aims to refinance existing debt and provide additional liquidity for A Crane Rental to support its growth initiatives.
Who are the lenders involved in this financing?
The financing is backed by Great Rock Capital and co-lenders Ares Commercial Finance, Wingspire Capital, and InterVest Capital Partners.
What types of services does A Crane Rental provide?
A Crane offers comprehensive lifting services, specializing in renting heavy-lift equipment for various sectors, including construction and industrial maintenance.
How does Great Rock Capital support its clients?
Great Rock Capital provides fast and flexible financing solutions tailored to the specific needs of middle-market companies.
Who advised on the transaction?
The London Manhattan Company served as the exclusive financial advisor for the transaction, leveraging its extensive experience in commercial finance.
