Encina Equipment Finance (EEF) and Great Rock Capital jointly announced today that they have provided a $33 million senior secured credit facility to Falcon Transport (Falcon). The financing was used to help fund CounterPoint Capital Partners’ acquisition of the company.
From the date that the term sheet was signed, EEF and Great Rock closed and funded the complex financing transaction in only 18 days. Based in Youngstown, OH, Falcon is a leading trucking company with dedicated, flatbed and over-the-road capabilities that serves customers in the automotive, steel, manufacturing, general commodity and other industries.
Launched in June 2017, Encina Equipment Finance provides loans and leases ranging in size from $5 - $25 million and secured by essential-use machinery & equipment. The platform provides financing to both privately-owned (sponsor and non-sponsor) and publicly-traded companies across a wide range of collateral types, industries (including, but not limited to, construction, distribution, energy, food processing, healthcare, information technology, manufacturing, mining, paper & packaging, and transportation) and use cases (including loans and leases against new or existing equipment).
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.
CounterPoint Capital Partners is a Los Angeles-based investment firm focused on acquiring lower-middle market companies headquartered throughout the United States and Canada with $10 million to $200 million in annual revenues. CounterPoint looks for complex situations caused by operational, succession, for financial challenges within a company or industry and, by developing a close partnership with management teams and other stakeholders, implements structural and operational improvements to put
portfolio companies on a successful trajectory.