Utica closed a $9.2 million capital lease for a pipe and steel manufacturer serving midstream, utility, and industrial customers. Secured by production machinery, mobile assets, material handling and support equipment, the lease will support the acquisition of the company’s assets through a court-supervised sale process.
The business operates a large industrial campus producing line pipe, oil country tubular goods, and related products. The new owners bring long-standing relationships with pipe distributors, utilities and EPCs, and plan to restart production with a focus on line pipe.
