Enterprise Group, Inc.’s $30 Million Credit Facility with Waygar Capital and Ninepoint Partners

Aird & Berlis represented Waygar Capital on the financing.

Enterprise Group, Inc. (TSX: E) , a consolidator of services to the energy sector that is focused primarily on specialized equipment rental, is pleased to announce that is has entered into a senior secured credit 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 to the energy sector. The Company’s focus is primarily on specialized equipment rental. 

Waygar Capital is an asset-based lender that provides financial solutions to mid-market companies. 

Ninepoint Canadian Senior Debt Fund seeks to invest directly or indirectly in a portfolio of first priority or first lien senior secured loans to Canadian companies.

Aird & Berlis represented Waygar Capital with a team including Aaron Collins (Picture) and Jonathan Yantzi. 

 

Involved fees earner: Aaron Collins – Aird & Berlis LLP; Jonathan Yantzi – Aird & Berlis LLP;

Law Firms: Aird & Berlis LLP;

Clients: Waygar Capital;

Author: Martina Bellini