To assist a Western Canadian excavation and aggregate production business access off-balance sheet equity to repay motivated senior creditors and provide working capital to catch up on arrears, including amounts owing to the CRA arrears. TRC was able to facilitate the refinance by underwriting both capital and current assets to ensure sustainable leverage.
To assist a Western Canadian directional-drilling company in their acquisition of a complimentary hydrovac business, TRC was able to approve a +90% of LBO purchase price advance by underwriting the target company and while also recapitalizing the purchaser’s balance sheet.
To facilitate their transition back to bankability, TRC underwrote $8.1MM sale and leaseback for an East Coast construction and paving company. The business had endured a particularly difficult year due to weather and was asked to leave their house bank of over 60 years as they now fell outside of the institution’s traditional credit guidelines. Working in tandem with a new working capital lender, TRC was able to approve a multi-facetted capital asset sale and leaseback with a seasonal payment scheme to accommodate management’s recovery initiative.