MidCap Business Credit Announces Asset-Based Credit Facility

MidCap Business Credit announced today they have closed on a $9,000,000 asset-based credit facility for a Titan Production Equipment, LLC, headquartered in The Woodlands, TX.  Titan Production Equipment designs, engineers, and manufactures surface production equipment, focused on filtration and dehydration units, serving the oil and gas industry.

The opportunity was sourced out of Midcap’s office in Dallas, TX.  Bill Nay, Senior Vice President of MidCap Business Credit said, “We’re excited to partner with Titan and help them achieve their strategic vision for the business.”

Larry Lucas, CFO of Titan said, “We look forward to the value MidCap adds to the business to enable Titan to achieve our growth potential in the oil and gas market.”

MidCap Business Credit provides asset-based credit facilities to lower and middle market businesses nationwide, who have borrowing requirements from $2MM to $20MM.