Great Rock Capital has provided a senior secured term loan of $45 million to Oculus Transport Ltd, a Calgary-based oilfield hauling business.
Great Rock partnered in the transaction with revolver lender, HSBC Bank Canada. The proceeds will support the company’s growth.
Founded in 2011 by CEO Ric Peterson, Oculus is focused on the logistics and transportation of pipe hauling, pipe storage, fluid hauling, fluid storage, and natural gas liquid and liquefied natural gas hauling.
Great Rock is a U.S. asset-focused commercial finance firm specializing in mid-market lending.
Great Rock Capital Closes CAN $45 Million Senior Secured Term Loan with Oculus Transport, LTD
New Capital to Support Growth of Industry Leading Canadian Oilfield Transport and Logistics Company
WESTPORT, Conn., Aug. 21, 2019 /CNW/ — Great Rock Capital, an asset-focused commercial finance company specializing in middle market lending, today announced the closing of a CAN $45 million senior secured term loan with Oculus Transport, LTD, headquartered in Calgary, AB.
The new capital will fuel the growth of an industry leading Canadian oilfield transport and logistics company, progressing their efforts to surpass the expectations of customers while managing the unique environmental challenges that arise in their industry. Great Rock Capital partnered with revolver lender, HSBC Bank Canada, to create an optimal financing structure that will maximize the firm’s liquidity.
Ric Peterson, CEO, and Bob German, CFO of Oculus Transport shared, “This capital will allow us to grow our infrastructure to position the company for sustained success and continue to provide best in class equipment and service to our customers. We believe relationships are a vital component of our success, and we look forward to partnering with Great Rock Capital as we continue to drive the growth of Oculus.”
“Oculus runs a best-in-class operation and we are excited to be their financial partner,” said Stuart Armstrong, CEO of Great Rock Capital. “They value their employees and take pride in the quality of their company and fleet, which is why they have delivered best in class service for the past 8+ years. Ric and Bob are successful entrepreneurs and dedicated leaders of Oculus, and we are excited to support the company’s growth and success.”
Sergio Terrazas of Alcedio Capital, financial advisor for Oculus shared, “I enjoyed working with the Great Rock Capital team as they quickly understood the needs of my client and created a loan structure to provide the needed liquidity to position Oculus for continued growth. I am encouraged by this partnership and look forward to continuing to work with both teams.”
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 http://greatrockcapital.com/.
About Oculus Transport, LTD
Oculus Transport Ltd. is a general oilfield hauling company that specializes in the logistics and transportation of pipe hauling, pipe storage, fluid hauling, fluid storage, and NGL/LNG hauling. Oculus is committed to operating at the highest standards of safety, environmental stewardship and stakeholder engagement at every level.
Great Rock Capital Contact
Managing Director, Marketing and Business Development
(203) 557- 6277