WhiteHorse Capital provided a new senior secured credit facility to Pirtek Holdco, LLC (“Pirtek”) to support Princeton Equity Group’s acquisition of the company and to pay related fees and expenses. Pirtek is a franchisor concept which supplies and services hydraulic hose via mobile service vans and storefronts. Franchisees offer 24/7/365 on-demand servicing at customer sites via their vans with 1 hour arrival ETAs.
“WhiteHorse Capital was a great partner throughout the transaction – we valued their ability to move quickly and provide certainty under a compressed timeframe. We are excited to partner with the WhiteHorse Capital team to continue supporting the Pirtek franchisees and customers," said Doug Kennealey, Managing Partner at Princeton Equity Group.
Sobia Khaliq, Managing Director at WhiteHorse Capital, added, “We are very excited to partner with Princeton on their acquisition of Pirtek and look forward to seeing continued success for the Company and its franchisees.”
Pirtek franchisees provide hydraulic and industrial hose maintenance and replacement services through on-site mobile and service centers. Pirtek has a 1-hour ETA for on-site hose service and is available 24/7/365 to minimize equipment downtime and eliminate the need for customers to leave their job sites or facilities. The company has 145 locations and approximately 400 mobile units across North America. For more information, visit www.pirtekusa.com.
About WhiteHorse Capital
WhiteHorse Capital provides debt financing to middle market companies across a wide range of industries, including Telecom, Media and Technology, Healthcare, Business Services and Financial Services. WhiteHorse has a broad investment mandate and provides senior and subordinated debt for refinancings, growth capital, acquisitions, buyouts, and balance sheet recapitalizations. WhiteHorse professionals, across the U.S. and Europe, have extensive experience and a proven track record of providing creative financing structures and employing a long term relationship oriented portfolio management philosophy. To learn more visit www.whitehorse.com.