Great Rock Capital announced that it has closed a $175 million senior secured revolving credit facility for A Crane Rental LLC (“A Crane”), for which it served as Administrative Agent. A Crane is a leading full-service infrastructure services provider specializing in crane rental and heavy-lifting solutions for the construction and industrial maintenance industries.
The new revolving credit facility, secured by high-quality accounts receivable and machinery & equipment, refinanced the company’s existing debt and provides significant additional liquidity and financial flexibility to drive future growth. Ares Commercial Finance, Wingspire Capital, and InterVest capital partners served as co-lenders in the financing.
“Since 2016, A Crane has expanded its operations with one of the youngest and most technologically advanced fleets in the heavy-lift industry,” said Bill McCabe, President of A Crane. “Today, with the support of Great Rock, we are well positioned to continue our growth trajectory and fulfill our customers future lifting needs.”
“A Crane is a recognized industry leader, delivering best-in-class equipment and exceptional service to a growing customer base focused on critical infrastructure servicing needs,” said Stuart Armstrong, CEO of Great Rock Capital. “Its continued success is fueled by a strong management team, and we look forward to expanding on our financial partnership as they execute on their strategic initiatives.”
The London Manhattan Company served as the exclusive financial advisor for the transaction