Clarus Capital closed a $30 million lease facility for a sponsor-backed infrastructure services company. Clarus’ immediate financing proceeds reimbursed the company for recent new vehicle purchases, with ample dry powder available for subsequent fundings as vehicle acquisitions arise throughout the year.
“Our client’s service offering is becoming increasingly vital to the communities it serves given our country’s aging grid infrastructure,” Steve O’Leary, CEO of Clarus Capital, said. “Clarus structured a scaled lease facility to accommodate various types of vehicles / equipment, both new and used, allowing our client ultimate flexibility to deploy capital quickly as assets become available for purchase. We appreciate the opportunity to support them with their ongoing growth initiatives and look forward to expanding this relationship in the future.”
Tim Conway, chairman of Clarus Capital, added, “Clarus continues to deliver efficient and scalable capital solutions that allow private equity firms and their portfolio companies to execute their long-term value creation initiatives. Our team has an extensive background supporting this sponsor via decades of leverage finance transactions and we are pleased to now partner to finance essential use assets.”
