Tiger Rentals Refinances $160 Million Credit Facilities;

New Post Public Reply Private Reply Replies (0) Message Board

News Desk 2018

Aug 13, 2018 at 5:30 AM 147

Tiger Rentals Refinances $160 Million Credit Facilities; Includes $100 Million Term Loan from Orion Energy Partners and $60 Million Revolving Credit Facility from J.P. Morgan

BEAUMONT, Texas, Aug. 13, 2018 (GLOBE NEWSWIRE) -- Tiger Rental Group, LLC (together with its affiliated companies, “ Tiger Rentals ” or the “ Company ”) has refinanced its $160 million credit facilities, consisting of a $100 million senior first lien term loan with Orion Energy Partners, L.P. (together with its affiliated funds, “ Orion Energy ”) and a $60 million working capital revolving credit facility with JPMorgan Chase Bank, N.A. (together with its affiliates, “ J.P. Morgan ”). The refinancing provides significantly improved pricing and terms that reflect the Company’s strong financial performance and current market conditions.

“Tiger Rentals is pleased to continue our partnerships with Orion Energy and J.P. Morgan,” said Casey Crenshaw, Chairman of Tiger Rentals and President of The Modern Group. “Tiger remains optimally positioned to service our customers and grow the business in any energy market environment. We will continue to actively pursue attractive growth opportunities for our onshore and offshore business both domestically and internationally.”

Tiger Rentals is a global leader in providing equipment rental and safety services to the energy industry. The Company serves a diversified customer base including refiners and petrochemical companies, major diversified energy companies, energy services companies, and general industrial companies. Tiger Rentals is a wholly owned subsidiary of The Modern Group, Ltd (together with its affiliated companies, “ The Modern Group ”).

“Tiger has helped its customers ‘ MAKE IT HAPPEN ’ for nearly twenty-five years,” said Colby Crenshaw, President of Tiger Rentals. “And today we remain completely focused on providing our customers with best-in-class rental equipment and services for their mission critical industrial applications.”

“Orion Energy is thrilled to renew its partnership with Tiger Rentals. This transaction will allow Tiger to take advantage of a variety of opportunities to continue to expand the business. We look forward to partnering with Tiger on future growth opportunities.” said Rob Rusk, Co-Founder and Partner at Orion Energy.

Simmons & Company International, Energy Specialists of Piper Jaffray, served as the sole debt placement agent on the transaction. Kirkland & Ellis LLP acted as legal advisor to Tiger Rental. Latham & Watkins LLP acted as legal advisor to Orion Energy. Locke Lord LLP acted as legal advisor to J.P. Morgan.

About Tiger Rental Group

Tiger Rental Group is a leading provider of onshore equipment rental services to the midstream, petrochemical, and E&P sectors (Tiger Industrial Rentals), international provider of offshore oilfield equipment rental services (Tiger Offshore Rentals), and energy-related safety equipment rental and services (Tiger Safety Rentals). For more information, visit www.TigerRentals.com .

Tiger Industrial Rentals is a leading provider of rental equipment and services to the midstream, downstream, and upstream energy, chemical, and processing sectors. We have multiple locations in the US that offer a full range of high-quality equipment for pumping, cleaning, shelter, flooring, and power generation. Our fleet includes blast resistant buildings, heavy duty pumps, portable generators, pressure washers, lighting, and ECOmat™ flooring solutions. For more information, visit www.TigerIndustrialRentals.com .

Tiger Offshore Rentals provides specialty transport tanks and logistics equipment rental to the offshore oil and gas market. Our equipment is used to safely transport, store and process drilling fluids, liquids, waste, tools, refrigerated goods, dry goods, and more. Our fleet includes cargo carrying units, baskets, boxes, containers, tanks and vessels. We also offer slings & rigging, mixing units, mud tank packages, flooring, rotating equipment, and waste services. Tiger provides a full array of equipment and services solutions to customers in North America, South America, Africa, and the Middle East and Mediterranean regions. For more information, visit www.TigerOffshoreRentals.com .

Tiger Safety Rentals offers the domestic and international oil & gas industry a full array of safety equipment and services. Our company is backed by years of safety industry knowledge and experience. Equipment and services offered include H₂ S safety, confined space and rescue, well testing equipment, cameras and communication, personal protective equipment, lighting equipment, safety trailers, and production testing equipment. In addition, Tiger Safety’s PMI division is a leading provider of cleaning and environmental services to oilfield companies in the Gulf of Mexico and Texas. For more information, visit www.TigerSafetyRentals.com .

Contact: James Reddinger, CFO Tiger Rentals (409) 832-9336

Newer

Older

Scroll down for more posts ▼

Top 10 Most Recent News Articles

Protecting Teeth: Insights from Endodontist Dr. Joubert

Preserving Our Natural Chompers Digging into the details of endodontic care, you realize how it's the unsung hero in the dental world. And let's face it, teeth don't get happier on their own when there's a problem on the inside. Dr. Christopher Joubert, a wiz on the endodontic front, spills the beans over at HelloNation about how essential these practices are in keeping...

ARTiSTORY's Strategic Advance in Cultural IP Licensing

Call it a seismic shift or call it common sense, but ARTiSTORY's recent haul of accolades makes it clear: they're onto something big in the cultural IP game. Receiving four honors at the 26th International Advertising Institute Awards (IAI Awards), including a Gold for their British Library × CHAGEE collaboration, and jumping into License Global's Top 60, they're staking...

New 2027 Jeep Wrangler JL-2A: A Blast from the Past

Revisiting a Prized Legacy: The 2027 Jeep Wrangler JL-2A Sometimes, what’s new is really just a nod to what’s old—and nowhere is this more so than with the 2027 Jeep Wrangler JL-2A. In the grand parade of automotive history, Jeep's latest creation is more than just a vehicle; it's a time machine that cruises on its historic lineage while strapping on all the modern...

OneOdio Showcases Innovation at IFA 2026 in Berlin

Echoes from Berlin IFA 2026 in Berlin was a cacophony of innovation, as OneOdio wrapped up its showcase with a bang. Boasting interactive activities and live DJ sets, the event echoed OneOdio's drive to meld advanced audio technology with the pulsating needs of music pros and everyday listeners. You couldn’t miss the excitement in the air at Booth 217. Tech Unplugged:...

Countries Eye New Investment Paths at CIFIT 2026

Global Investment Winds Shift at CIFIT In the thick of a world that's being turned on its head, you've got big shots from 129 countries and 30 international organizations talking shop at the 26th China International Fair for Investment and Trade (CIFIT) in Xiamen. Take your pick from the 48 of the world's top 50 GDP powerhouses rubbing shoulders there—this ain't your...

U.S. Green Beret's Mission: Clearing Landmines in Ukraine

The Rise of "Safe Ground" on Prime Video This isn't your typical feel-good story—it’s about grit and the unending fight for 'normalcy' where war left scars. Safe Ground, now streaming on Prime Video, showcases Ryan Hendrickson, a U.S. Army Green Beret whose story takes a sharp turn after stepping on an IED in 2010. The day he almost became just another statistic...

USPS Honors 150 Years of the U.S. Coast Guard Academy

Honoring Tradition and Service The good ol’ U.S. Postal Service is at it again, giving a tip of the hat to a slice of American military heritage. This time, they’re putting out a new stamp to celebrate the 150th anniversary of the U.S. Coast Guard Academy. And you know where they did the honors? Right there on Custom House Pier in New London, Connecticut, a place that...

IASLC Boosts Global Thoracic Cancer Collaboration

Breaking Down Barriers in Thoracic Oncology Picture a world where financial walls don't block innovation and knowledge sharing in cancer treatment. The International Association for the Study of Lung Cancer (IASLC) is leading the charge here. They've just launched a new initiative offering complimentary full membership to qualified healthcare professionals in low- and...

SystImmune's Data on Iza-bren Show Promise for Lung Cancer

Stepping into New Territory with SystImmune Amid the cacophony of biotech whispers and the marketplace hum, SystImmune is trotting out something that might just make the folks in lab coats raise an eyebrow. They’ve got new data for Iza-bren—none of that flashy PR chatter—but it's damn promising if you ask me. At the World Conference on Lung Cancer in Seoul,...

Pizza: The Unlikely Symbol of Universal Togetherness

Why Pizza Is More Than Just Food They say a slice of pizza can tell a story. Whether it's a late-night snack amongst college buddies or the centerpiece of a family's Friday tradition, pizza unites like few others can. It morphs from a study aid into a tool for togetherness without skipping a beat, much like a chameleon of the food world. And no one understands this better...