FGI Provides $15MM Asset-Based Revolver for Basin Industries LLC
“We are thrilled to partner with the FGI team. They were able to structure a flexible facility that met our liquidity needs and allows us to continue to implement our acquisition strategy.”
Founded in 2008, Basin Industries LLC is a diversified industrial company that owns and operates businesses across the Energy and Industrial sectors. Basin is a privately held subsidiary of Basin Holdings LLC, with over 300 employees and over 15 locations across the US, Canada, Mexico, Guyana, and the UAE. Two of the Company’s main business units that were included in the financing were Black Diamond Oilfield Services and Basin Material Handling. Black Diamond rents and services drill pipe and other drilling-related tools and equipment, and Basin Material Handling designs and manufactures custom packaging solutions for manual and automated material handling systems.
Stephens served as exclusive financial advisor to Basin Industries LLC. FGI provided a $15 million asset-based revolver. The proceeds were used to refinance the Company’s existing debt and to provide additional working capital to support the Company’s growth plan.
