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GE Capital Finances for Oil & Gas Supplier

June 11, 2015, 07:00 AM
Filed Under: Energy

GE Capital, Corporate Finance 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.”

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