Dynamic Capital Equipment Finance Inc. recently funded a $5,000,000 term loan through the utilization of its own in-house financing for client Crude Master Transport Inc. (Crude Master), turning Crude Master into one of the largest fluid hauling operations in Western Canada.
In late March, Crude Master acquired all shares and assets of Excel Oil and Water Hauling Ltd. (Excel). Through leveraging Excel's assets as well as Crude Master's, Dynamic Capital was able to fund 100 percent of the financing in-house. This was made possible by significant equity in Crude Master’s fleet.
"We are a private, independent Canadian-based equipment finance company with a direct lending portfolio approaching $200 million, and a total of $400 million in assets under management. With the support of a diverse range of committed funding facilities, we are growing and supporting Canadian Entrepreneurs across Canada in a broad range of heavy industries. Our Direct, Vendor, TPO, Structured, and Fleet platforms provide Capex, M&A, Working Capital, and Debt Restructuring options for great companies like Crude Master daily," said Dustin White, CEO of Dynamic Capital.
Crude Master, based out of Lloydminster, AB since 2005, has built a fleet of over 90 trailers including Super B-Trains and Tridem trailers that carry and haul Heavy Crude Oil, Produced Water and Condensate. Given the difficulty of finding the equipment and people needed to grow Crude Master organically, Excel became a clear target to accomplish meaningful growth based on its reputable brand, key employees, and subcontractors, as well as its fleet of 45 trailers including Super B's and Tridem units. With the help of Dynamic Capital, Crude Master was able to seize the opportunity to grow its business.
"We have trusted Dynamic Capital with our financing needs for about five years now. The speed, service, communication, and work ethic to get deals done is why we continue to partner with Dynamic. We are proud of our recent purchase of Excel Oil & Water Hauling Ltd. Since 2012, the team at Excel has grown an exceptionally strong business and together we look forward to serving our community and beyond. We are excited for the future," said Heath MacDonald, Owner of Crude Master.
The combined entity that is Crude Master and Excel will now be amongst the largest fluid hauling operations in Alberta and Saskatchewan - the business will remain family-run as Crude Master continues to support the community of Lloydminster and surrounding areas.