First National Capital, a full-service provider of commercial equipment and project finance, closed $39 million in innovative financing solutions for a major marine services firm with over 50 years of experience across ship repair, fabrication and harbor operations.
The client, a marine services company with deep industry roots, partnered with First National to support ongoing growth and capital investment. At a critical juncture, First National helped the company unlock liquidity by refinancing a sizable MSLP loan through a sale-leaseback of existing assets and securing an incremental line of credit for capital expenditures (capex).
This financing package was structured to adapt to the client’s evolving operational needs and strategic priorities. The capital supported the acquisition and refurbishment of critical assets, including barge movers, used freight barges, rough terrain cranes, towboats, boom lifts, compressors and lathes. These investments are essential for maintaining efficient operations and expanding the company’s capabilities across its marine and industrial services.
“Every client we serve has unique objectives and challenges,” Ben Frank, chief revenue officer of First National, said. “At First National Capital, our team uses extensive industry expertise to craft creative financing solutions that support our clients’ ambitions today and into the future. True partnership means solving problems together and building lasting value.”
