Elevex Capital, a specialty commercial equipment finance company, expanded its multi-million-dollar credit facility with Woodforest National Bank. The expanded facility strengthens Elevex’s capital base and gives Elevex a diversified funding platform to support continued origination growth.
“At Woodforest, we are committed to building long-term relationships with strong management teams and investment sponsors that support the growth of middle market businesses. Our partnership with Elevex Capital is a great example of that commitment,” Trey McCord, executive vice president, and head of Houston middle market banking at Woodforest National Bank, said. “We are excited to expand our financing relationship and support Elevex as it continues to scale its equipment finance platform.”
Spencer Richman, interim CEO of Elevex, added, “We are grateful to Woodforest for their confidence and continued support. This expanded facility is a strong endorsement of our team, our credit discipline and our plan. With this added capacity, we are well positioned to keep growing alongside our customers and partners while building a durable, profitable business.”
Elevex is backed by Sallyport, a Houston-based private equity firm focused on supporting high-growth companies across a range of industries.
“Elevex has built a strong foundation and is entering an exciting new phase of growth,” Kyle Bethancourt, managing partner of Sallyport, said. “We are encouraged by the team’s commitment to its clients and partners and its ability to capitalize on emerging opportunities. Sallyport remains a dedicated partner as Elevex continues to scale and create lasting value.”
