A global provider of oilfield metals solutions to the energy industry. They deliver solutions for demanding Oilfield Tubular requirements and supplying corrosion resistant tubular for high pressure, high temperature (HPHT) wells.

Need:

Provide capital for expansion into a previously outsourced manufacturing industry subsequently increasing gross margin for main product.

Solution:

The company partnered with VFI for multiple rounds of financing totaling $20,000,000 for the a manufacturing plant, warehouse facilities (racking) and new corporate office build out.

Results:

Better management of cash flow during off-peak-season
Proper management of outdated equipment assets

Benefits:

  • A secondary source of financing outside their banking relationships
  • A lease line of credit to pay multiple vendors for multiple months
  • Quick approvals and funding turnaround
Energy Services Company

$20,000,000

Manufacturing Plant and Warehouse Facilities

VFI