Tiger Rentals Receives $135MM in Financing

Tiger Rental Group closed on $135 million of financing consisting of a $110 million senior first lien term loan with Orion Energy Partners and a $25 million working capital revolving credit facility with JPMorgan Chase Bank.

J.P. Morgan acted as exclusive placement agent to Tiger Rentals in connection with the term loan from Orion Energy and Kirkland & Ellis acted as legal advisor to Tiger Rentals. Latham & Watkins acted as legal advisor to Orion Energy.

Beaumont, TX-based Tiger Rentals provides equipment rental and safety services to the energy industry.  The company serves a highly diversified customer base including major oil companies, refiners and petrochemical companies, and energy services companies. Tiger is a wholly owned subsidiary of The Modern Group.

“Tiger Rentals is pleased to partner with Orion Energy and J.P. Morgan to put in place a capital structure that will allow us to expand our global industry leadership in energy-related equipment rental and services,” said Colby Crenshaw, president of Tiger Rentals. “Tiger is now optimally positioned to service our customers and grow the business in any energy market environment.”

“Orion Energy is thrilled to announce a partnership with Tiger Rentals and The Modern Group. Tiger has thrived throughout various market and commodity price environments and its products and services are critical to companies across the energy value chain. This transaction will allow Tiger to take advantage of a variety of opportunities to continue to grow and evolve the business,” said Rob Rusk, co-Founder and partner of Orion Energy.

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