IRVINE, Calif.--(BUSINESS WIRE)--CG Commercial Finance (CGCF) announced it has provided lease financing totaling $12,605,000 for air movers, liquid-vacuum trucks, cranes, and hydro-blasters used to service the chemical and oil and gas industries.
The transactions were completed through a series of 32 schedules varying from $270,000 to $930,000 over the course of the last 12 months. The combination of managing multiple schedules, numerous vendors, various unique equipment types, and extended timeframes required significant funding capabilities and documentation expertise. Additionally, CGCF continues to fulfill the Lessee’s need for additional credit capacity, a challenge commonly associated with high growth companies.
The Lessee, a private equity sponsored industry leader in hazardous waste management and industrial services with over 90 facilities spread throughout the country, chose CGCF due to its demonstrated ability to consistently overcome transaction challenges while delivering a high level of customer service and satisfaction.
“The reality is that private equity backed companies have far fewer financing alternatives available to them, especially given the uncertainty of larger lenders participating in this segment. This transaction is not only a great example of CGCF stepping in to fill the financing gap in the private equity space but also cements a long standing trusted relationship with this Lessee,” said W. Scott McCullum, President of CG Commercial Finance.
About CG Commercial Finance
CG Commercial Finance is a domestic and international financier of equipment and industrial projects related to the growth, expansion, and efficiency initiatives of large corporations. CGCF delivers highly customized lease and financing solutions to meet complex operational, accounting, and treasury requirements. Projects typically range from $1MM to $300MM in cost and include diverse assets such as transportation (titled vehicles, air, rail, and marine), industrial plants (manufacturing, food processing, assembly, etc.), distribution centers, material handling, mining, energy, and technology assets.