HOP Energy inks credit facility from Mountain Ridge and Great Rock

• The new credit facility refinanced HOP Energy’s existing bank revolving line of credit and will provide additional liquidity to support future growth
• Mountain Ridge Capital and Great Rock Capital are mid-market lenders
• Delos Capital targets the lower middle market private equity firm

Mountain Ridge Capital and Great Rock Capital have provided a credit facility for White Plains, New York-based HOP Energy, LLC, a home services provider. No financial terms were disclosed.

HOP Energy is majority-owned by Delos Capital.

The new credit facility refinanced HOP Energy’s existing bank revolving line of credit and will provide additional liquidity to support future growth.

On the financing, Craig Winslow, president and chief credit officer of Mountain Ridge, said in a statement, “We built Mountain Ridge Capital on the basis of providing flexible and creative ABL structures with speedy execution. We are pleased to have accomplished all these objectives with this deal. HOP Energy makes an excellent addition to our growing portfolio as we look for similar sized transactions in the future.”

HOP Energy is a distributor of heating oil, propane and other petroleum products and a premier provider of HVAC and other related services in nine states in the Northeast and Mid-Atlantic.

Mountain Ridge Capital and Great Rock Capital are mid-market lenders.

Delos Capital targets the lower middle market private equity firm.