Phoenix Service Partners Secures $350 Million in Funding

Phoenix Service Partners just pulled off a major financial power move, locking in a $150 million asset-based lending facility with an added $100 million accordion feature.

And because that wasn’t enough, they sealed the deal alongside a $100 million equity partnership agreement, stacking up a serious war chest to fuel their expansion.

The financing lineup is no joke. Heavy hitters like First Horizon Bank, Texas Capital Bank, and a group of other financial institutions are backing the deal.

With this fresh influx of capital, Phoenix is primed to push its growth agenda, fine-tune its operations, and tackle market demands in the gas compression industry.

"Securing this credit facility is a testament to the strength of Phoenix and our commitment to long-term growth," said Randy Dean, CEO of Phoenix.

"By aligning this financing with our equity partnership agreement, we are well-positioned to expand our market presence, invest in best-in-class equipment, and deliver superior value and service to our customers and partners."

Translation? They’re gearing up for some serious expansion while keeping their service quality top-tier.

The company isn’t just throwing around big numbers for show. The plan is to scale its gas compression services across key regions, sticking to its game plan of efficiency and customer satisfaction.

Jacob Campbell, CFO of Phoenix, made it clear that their banking partners bring serious industry expertise.

"We are excited to be partnering with a group of experienced financial institutions, led by First Horizon Bank. Forrest Taylor and his team at First Horizon Bank bring a wealth of compression industry knowledge, great attention to detail, and high integrity. We look forward to working with them and our other bank partners as we execute Phoenix's growth plan."

Phoenix specializes in extra-large horsepower, low-emission natural gas compression equipment, serving major players in North America's oil and gas basins.

With a leadership team stacked with industry veterans, they’ve built a reputation for top-tier runtimes and stellar customer service.

Now, with this financial boost, they’re poised to crank things up another level.