TCF Capital Funding, a division of TCF National Bank which is a subsidiary of TCF Financial, provided $24 million in secured financing to support Prospect Partners in a dividend recapitalization of Owen Equipment.

Headquartered in Portland, OR, Owen Equipment is an environmental maintenance equipment company in the Western U.S. and the exclusive distributor for Federal Signal Corporation’s Vactor and Elgin product lines in Oregon, Washington, Northern California and select counties in Idaho and Nevada.

“Earl Rose, the management team and Prospect Partners have consistently outperformed expectations.  We are excited to expand our relationship with Owen Equipment and look forward to supporting the collective team for many more years,” said TCF Capital Funding Senior Vice President KC Beuker.