Published : Thursday, April 20, 2017 | 5:37 AM
The loan is for some of GFC’s subsidiaries that offer portable storage, modular space and liquid containment solutions.
“We are very pleased with this refinancing as it provides us with ongoing financial flexibility and nicely positions us for continued growth,” Ronald Valenta, GFC Chairman, said in a company announcement Tuesday. “We look forward to our continuing mutually beneficial relationship with GACP.”
On the other hand, John Ahn, President of Great American Capital Partners, said the loan demonstrates their ability to help companies like GFC continue to pursue growth opportunities in the industry.
“We look forward to building upon our new relationship and working with the General Finance team,” Ahn said.
Great American Capital Partners, a division of B. Riley Capital Management, originates and underwrites senior secured loans across a wide array of industries. Its mother company, 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.
Headquartered in Pasadena, GFC is a leading specialty rental services company. Its North America leasing operations consist of wholly-owned subsidiaries Pac-Van, Inc. and Lone Star Tank Rental Inc., providers of portable storage, office and liquid storage tank containers, mobile offices and modular buildings.
The company also owns 90 percent of Southern Frac LLC a manufacturer of portable liquid storage tank containers and other steel-related products in North America. GFC’s Asia-Pacific leasing operations in Australia and New Zealand consist of majority-owned Royal Wolf Holdings Limited, the leading provider of portable storage solutions in those countries.