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Great Rock Capital Provides $25MM of Liquidity to Industry Leading Compression Service Provider
April 27, 2022
By Great Rock Capital
Working Capital to Execute on Growth Initiatives
Westport, CT – April 27, 2022 – Great Rock Capital, an asset-focused commercial finance company specializing in middle market lending, today announced it has provided $25.0 million of liquidity through a senior secured credit facility to support Natural Gas Compression Systems (“NGCS”), a Michigan-based full-service gas compression equipment and service business throughout the United States and Canada. The facility was used to refinance the existing lender and will provide additional working capital and financial flexibility to support NGCS’s continued growth.
CIT Northbridge Credit served as lead agent for the credit facility, which provided $145.0 million of overall liquidity to the Company.
About Great Rock Capital
Great Rock Capital is an asset-focused commercial finance company specializing in serving the needs of middle market companies with a wide variety of secured lending products. Great Rock Capital provides fast, flexible, and creative financing solutions to maximize its customers’ liquidity to enable them to better execute their business plans. To learn more, visit www.greatrockcapital.com.
About CIT Northbridge Credit
CIT Northbridge Credit is a trusted financial partner supporting middle-market companies with a broad range of flexible asset-based debt solutions. A joint venture advised by CIT Asset Management, it provides revolving and term loan commitments from $15million to $150 million to companies across various industries and business cycles, and serves primarily as sole lender, agent, club participant or co-lender. To learn more, visit Commercial Finance | CIT.
About Natural Gas Compression Systems
Natural Gas Compression Systems, Inc. is ahigh-quality packager of reciprocal and rotary screw natural gas compressors available for sale or on a contract compression basis. They offer a complete range of compressor maintenance services in several markets. In addition, they carry a line of dedicated Caterpillar swing engines.