EquipmentShare, a company in connected jobsite technology and a rental provider in the United States, closed a $2.75 billion asset-based senior secured credit facility. Wells Fargo serves as administrative agent and lead lender for the facility.
“EquipmentShare’s growth is powered by a disciplined capital structure and our market-leading, award-winning T3 technology platform,” Jabbok Schlacks, co-founder and CEO of EquipmentShare, said. “This facility strengthens our financial foundation and provides the stability and flexibility we need to execute our long-term strategy, invest in our technology and continue delivering industry-leading value to our customers.”
The facility extends maturity to 2030 and provides EquipmentShare with best-in-class pricing. Wells Fargo Bank, Citibank, Truist Bank, Citizens Bank, Fifth Third Bank and SMBC served as joint lead arrangers and joint book runners for the facility. Wells Fargo Bank, Citibank, Truist Bank and Citizens Bank served as co-syndication agents. Fifth Third, SMBC, Goldman Sachs, U.S. Bank, Regions Bank, TD Bank and UBS AG (Stamford branch) served as co-documentation agents. The facility replaces the company’s previous asset-based senior secured credit facility.
“Wells Fargo is pleased to support EquipmentShare and their continued growth with this new asset-based loan facility,” Kurt Marsden, head of Wells Fargo Capital Finance, said. “We are proud to expand our strong relationship to help the company achieve their strategic goals.”
