Railroad equipment supplier RELAM grabs loan from Platinum Equity

• Platinum’s credit team targets companies that generally have $15 million to $75 million of EBITDA and are primarily based in North America
• Houlihan Lokey acted as placement agent to RELAM
• Founded in 1995 by Tom Gores, Platinum Equity has approximately $47 billion of assets under management

Platinum Equity has provided a term loan to Railway Equipment Leasing and Maintenance Inc, a U.S.-based provider of specialty rental equipment. No financial terms were disclosed.

The financing will be used to refinance existing indebtedness and support future growth of the business.

“We are pleased to have provided RELAM a financing solution with speed and certainty in a market that remains complex for middle-market borrowers,” said Platinum Equity Co-President Louis Samson in a statement. “Platinum has deep domain expertise in equipment rental and we have a lot of experience helping companies in that space grow and expand their businesses. We believe our sector knowledge combined with our operations-intensive model puts us in a unique position to underwrite this type of credit investment.”

In July 2020, affiliates of Paceline Equity Partners LLC combined two existing MOW railroad equipment rental businesses to create RELAM.

Platinum’s credit team targets companies that generally have $15 million to $75 million of EBITDA and are primarily based in North America.

Houlihan Lokey acted as placement agent to RELAM.

Founded in 1995 by Tom Gores, Platinum Equity has approximately $47 billion of assets under management.