GE Capital provides financing for Permian Basin Materials

GE Capital, Corporate Finance

GE Capital, Corporate Finance is serving as administrative agent on $72.5 million of senior secured credit facilities to Permian Basin Materials LLC (PBM), a newly formed affiliate of WL Ross & Co. LLC.

The credit facilities are being used to support the simultaneous acquisitions of Crockett County Mining Ltd., Highland Concrete Co., and Wallach Concrete Inc., and for ongoing working capital needs. GE Capital Markets served as sole lead arranger and bookrunner on the transactions.

The combined operations of Permian Basin Materials will produce construction aggregates and concrete for general construction and energy markets in the Permian Basin region of west Texas and southeast New Mexico. In total, PBM will own or lease 10 aggregates mines and 16 ready-mix concrete plants in the region.

 

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...