Wingspire Capital upsized a revolving line of credit to $300 million for New APR Energy (d/b/a APR Energy) in support of growth for the global company in fast-track power generation solutions.
APR will use proceeds of the revolver for capital expenditures, maintenance, equipment refurbishment, daily operations and additional liquidity for growth. The transaction doubles the size of a revolving facility Wingspire Capital provided to APR Energy earlier this year.
“This upsized revolver is a wonderful example of the close relationship Wingspire Capital maintains with borrowers in its portfolio. We learn their business and understand their capital needs so that we can provide the right solutions at the right time to support their business strategy,” John Olsen, managing director at Wingspire Capital, who serves as portfolio manager on the transaction, said.
Charles Ferry, executive chairman and CEO of APR Energy, said, “Demand for fast, reliable power continues to accelerate, particularly from data center customers. This expanded revolver from Wingspire Capital supports our ability to expand our fleet, scale quickly and deliver power on the timelines our data center and infrastructure customers require.”
Wingspire Capital is the administrative agent on the facility, with Great Rock Capital and Siena Lending Group joining as co-documentation agents on the upsize.
“Wingspire Capital enjoyed partnering with APR Energy’s leadership team, Great Rock Capital and Siena Lending Group to provide a significantly larger flexible capital solution that can power new growth for both APR Energy and its customers across the world,” Matt Governali, managing director at Wingspire Capital, said.
