Great Rock Capital Closes $20 Million Credit Facility with H
WESTPORT, Conn., July 21, 2020 /PRNewswire/ -- Great Rock Capital, an asset-focused commercial finance company specializing in middle market lending, today announced the close of a $20 million senior secured credit facility with Horsburgh & Scott, a manufacturer of mission critical, custom engineered gears and gearboxes utilized in heavy industrial machinery.
The capital provides Horsburgh & Scott with additional liquidity to support their growing platform. The tailored facility includes a traditional term loan, as well as a revolver and delayed draw term loan.
"Great Rock understood our capital needs and worked with us to customize and fund a structure that will position us for sustained success as we continue to execute on our business plans," said Randy Burdick, President and CEO of Horsburgh & Scott. "We look forward to our financial partnership as we navigate the next stages of growth."
"Horsburgh & Scott is led by a highly experienced management team with deep industry knowledge," said Stuart Armstrong, CEO of Great Rock Capital. "Great Rock is pleased to provide additional liquidity to position this industry-leading firm for new levels of growth that build on its 130+ year operating history."
Jeff Nemanick, Investment Partner at Sightway Capital, commented: "This credit facility is a testament to the strong progress we are seeing as Great Rock continues to build out its middle market lending platform. It's representative of what we are observing in the broader marketplace, and we believe that Great Rock is well-positioned to address the current market needs."
About Great Rock Capital
Great Rock Capital is an asset-focused commercial finance company specializing in serving the needs of middle market companies with a wide variety of secured lending products. Great Rock Capital provides fast, flexible, and creative financing solutions to maximize its customers' liquidity to enable them to better execute their business plans. Great Rock Capital has received significant capital commitments from its partners, Sightway Capital, LP, a Two Sigma company, and a large institutional investor. To learn more, visit www.greatrockcapital.com
About Horsburgh & Scott
Horsburgh & Scott is the world leader in the design, engineering, manufacturing, and repair of custom gearing solutions for any vertical market that requires reliability due to high cost of down time. The firm has over 130 years of experience diagnosing any gearbox and gearing issues for both H&S branded and competitor branded products. The organization focuses on owning the life cycle for H&S branded products, while offering their customer's upgrades on competitive branded products by employing H&S's vast engineering expertise, along with the latest design and manufacturing principles to enhance the mechanical ratings and reliability on gear drives rebuilt under the H&S brand name.
The H&S TEAM is committed to "DELIVERING THE DIFFERENCE" in everything that they do. To learn more, visit www.horsburgh-scott.com.
Great Rock Capital Contact:
Managing Director, Marketing and Business Development
(203) 557- 6277
SOURCE Great Rock Capital