TSL Express Daily News
The Secured Lender
SFNet's The 81st Annual Convention Issue
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Top 5 Apps for Organizing
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The Importance of Stretching
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SFNet's 40 Under 40 Award Winners Panel Recap
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SFNet's Inaugural YoPro Leadership Summit
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It’s a Marathon, Not a Sprint
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It’s Not Too Late – Five Member Benefits to Cash In On Now
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It’s Time To Break Up With Your Phone
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Lien Management – What You Need to Know
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Potential Impacts of Blockchain on Commercial Lending
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Fintech and Due Diligence – Disruptors and Established Firms Evolve
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A Commercial Banker’s Tickler Transition Plan
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Understanding and Developing Your Personal Brand: Four Steps to a More Intentional Career Progression
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Selecting a Technology Vendor: 3 Questions to Ask
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Why Back-Office Lending Automation Enhances Customer Satisfaction
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The Lost Art of the Loan Purchase
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Audit Prep: Why a Paperless Approach Makes Sense
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“All Assets” is the Key When Drafting UCC-1 Financing Statement Collateral Descriptions
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Paper Loan Files: Does Your Bank Know the True Cost?
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April 7, 2025
Source: Great Rock Capital
Capital to support additional growth
Westport, CT – April 7, 2025 -- Great Rock Capital, an asset-focused commercial finance company specializing in middle market lending, today announced the closing of a senior secured credit facility with National Railway Equipment Company (“NRE”). NRE, a portfolio company of TRM Equity (“TRM”), is a global provider of locomotive and marine products and services, servicing class 1’s, short line rail, government/industrial rails, and the inland marine transportation market.
The new credit facility, which includes a revolving line of credit and a term loan, refinanced the company’s existing debt and will provide additional liquidity to support growth.
“We are pleased to have this credit facility in place,” said Shaun Karn, Operating Partner at TRM Equity. The facility will provide the company with additional liquidity and financial support to advance our plan to reestablish NRE as a global leader in the rail, marine, and power industries.
“We look forward to working with NRE as they execute on their strategic growth plans,” said Stuart Armstrong, CEO of Great Rock Capital. “The experienced leadership and strong support from TRM coupled with the increased financial flexibility from this new credit facility have positioned the company for continued success.”
About Great Rock Capital
Great Rock Capital is an asset-focused commercial finance company that specializes in serving the needs of middle market companies across the United States and Canada. The Company provides fast, flexible, and creative financing solutions that maximize liquidity and provide growth capital. The senior secured credit facilities offered by the firm range in size from $15MM to $150MM and include working capital, term-heavy, and term-only loan structures not provided by traditional commercial lenders. The firm has significant capital commitments from its partners, a private equity business and a large institutional investor. To learn more, visit www.greatrockcapital.com.
About TRM Equity
TRM Equity (www.trmequity.com) is a private equity firm that seeks controlling investments in situations where the experience of our team can assist companies with operational improvement or transformation. The Firm's core team has worked and invested together for over 20 years, applying a consistent approach in targeted manufacturing industries, and has demonstrated a track record of above market returns.
About National Railway Equipment
Headquartered in Mt. Vernon, IL, National Railway Equipment Co. (NRE) is a global supplier of locomotives, servicing new and remanufactured locomotives, engines, power assemblies, repairs, field service and parts around the world. NRE Power Systems is a leader in the marine and industrial engine markets. NRE is proud to serve their customers with integrity and a commitment to industry-leading customer service from each of its locations. NRE has delivered over 1200 new and remanufactured locomotives to North American and International railroads. TRM Equity acquired NRE in May of 2023.
Great Rock Capital Contact:
Jenn Cronin
Managing Director, Marketing and Business Development
(203) 557- 6277
cronin@greatrockcapital.com
