GE Capital, Corporate Finance today announced it has provided a $17
million credit facility to ROC Services Company, an oil and gas
well-site services supplier. The funds will be used to refinance
existing equipment and to support the acquisition of the company by
Coral Reef Capital. GE Capital Markets served as co-lead arranger and
joint book runner on the facility.
Headquartered in Bridgeport, TX, ROC Services Company provides well-site
services such as maintenance, excavation and hauling and flow-back
services to oil and gas companies operating in the U.S.
“GE Capital’s experience in structuring equipment loans and
acquisitions, and their expertise in our industry made them the perfect
choice for our financing needs,” said Mike Ritchey, CEO of ROC Services.
“This capital will help us grow, and we look forward to the next chapter
of our business.”
“We have been adding resources over the last 18 months to expand our
coverage of the oil and gas market,” said Luca Pasqualini, Senior
Managing Director, GE Capital Corporate Finance. “We are excited to work
with ROC Services as they execute on their business plan.”
About GE Capital, Corporate Finance
GE
Capital, Corporate Finance provides asset-based, cash flow and
structured loans and leases to mid-size and large U.S. businesses
expanding in North America, Asia and Europe. Financing supports working
capital, growth, acquisitions, turnarounds and balance sheet
optimization in key sectors: Aerospace; automotive and transportation;
chemicals and plastics; construction and building products, corporate
aircraft; oil and gas; food and beverage; manufacturing; marine; metals
and mining; paper, packaging and forest products; retail; and technology
and electronics. With Access GE, clients also benefit from access to
GE’s best practices to help build their business. Visit geccf.com/newsroom
or follow @GELendLease
on Twitter.
GE Capital offers consumers and businesses around the globe an array of
financial products and services. For more information, visit gecapital.com
or follow company news via Twitter (@GECapital). GE (NYSE: GE) works on
things that matter. The best people and the best technologies taking on
the toughest challenges. Finding solutions in energy, health and home,
transportation and finance. For more information, visit ge.com.
About ROC Service Company
ROC Service Company, LLC is a leading provider of mission critical
wellsite and facilities services to exploration and production and
midstream companies operating across the United States. The Company’s
service offering spans the entire lifecycle of hydrocarbon production
and includes: the preparation and installation of wellsites and
production facilities for drilling, completion and production activity;
the maintenance or replacement of surface facilities and production
infrastructure throughout their economic life; and the decommissioning
and abandonment of wellsites and assets as dictated by customers’
diminishing returns and/or compliance with regulations. ROC operates
from eleven district offices across eight states. For more information,
please visit www.rocserviceco.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150610005135/en/
Copyright Business Wire 2015