LOS ANGELES, Sept. 12, 2017 (GLOBE NEWSWIRE) -- Great American Capital Partners, LLC ("GACP"), a wholly owned subsidiary of B. Riley Financial, Inc. (NASDAQ:RILY), has entered into an agreement with Greene's Energy Group, LLC to provide a $25 million senior secured credit facility.
"We are pleased to work with Greene's Energy Group on their operational plans. GACP remains committed to working with quality energy services companies to provide thoughtful solutions and access to needed capital. We are very excited about this partnership," said Bob Louzan, Managing Director at GACP.
"The loan from GACP has allowed Greene's to completely refinance its existing debt, as well as provide Greene's liquidity for expanded operations in the Permian, Eagle Ford, Northeast, and Gulf of Mexico," said Frank Mathews, Greene's President and Chief Operating Officer.
About Greene's Energy Group, LLC
Founded in 1953, Greene's Energy Group is a fully integrated oilfield services company focused on delivering packaged solutions to support drilling,
completion and production operations in the U.S. Gulf Coast, Eagle Ford, Permian and Marcellus regions.
About Great American Capital Partners, LLC
Great American Capital Partners (GACP) is a subsidiary of B. Riley Capital Management, an SEC Registered Investment Advisor. GACP originates and underwrites senior secured loans across a wide array of industries, and is dedicated to providing opportunistic and responsive capital to the underserved middle market.
B. Riley Financial, Inc. is a publicly traded, diversified financial services company which takes a collaborative approach to the capital raising and financial advisory needs of public and private companies and high net worth individuals. The Company operates through several wholly-owned subsidiaries,
including B. Riley & Co., LLC, FBR Capital Markets & Co., Wunderlich Securities, Inc., Great American Group, LLC, B. Riley Capital Management, LLC (which
includes B. Riley Asset Management, B. Riley Wealth Management, and Great American Capital Partners, LLC) and B. Riley Principal Investments, a group that makes proprietary investments in other businesses, such as the acquisition of United Online, Inc.
John Ahn, President
Great American Capital Partners
Source: Great American Capital Partners
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