Enterprise Group, Inc. Announces New $30 Million Credit Facility with Waygar Capital and Ninepoint Partners
September 09, 2021 at 07:44 am EDT
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Enterprise Group, Inc. announced that is has entered into a senior secured credit facility (the "Facility") with Waygar Capital Inc., as agent for Ninepoint Canadian Senior Debt Master Fund L.P. The Facility is comprised of a $30 million revolving line of credit, bears interest at 10% per annum, is secured by a first charge on assets, and is subject to certain borrowing restrictions. The Facility is effective September 7, 2021 and has a term of three years with an option to extend for an additional 12 months. The initial draw will be $10.8 million to close the existing credit facility which was due to end in 2022 and to cover working capital during the transition between facilities.
Enterprise Group, Inc. is a consolidator of services, including specialized equipment rental to the energy/resource sector. The Company works with systems and technologies that mitigate, reduce, or eliminate carbon dioxide (CO2) and greenhouse gas emissions for itself and its clients. It provides specialized equipment and services in the build out of infrastructure for the energy, pipeline, and infrastructure construction industries. It has fleet of wellsite modular/combo equipment, specialized heating units, tunnelling equipment, and other heavy equipment pieces. It offers specialized infrastructure services, such as coat curing, thermal pipe expansion, scaffolding and more. It provides low emission, mobile power systems and associated surface infrastructure to the energy, resource, and Industrial sectors, through its subsidiary, Evolution Power Projects, Inc. Its other subsidiaries include Westar Oilfield Rentals Inc., Hart Oilfield Rentals Ltd., and Artic Therm International Ltd.
ENTERPRISE GROUP, INC. 
