White Oak Commercial Finance (“WOCF”), an affiliate of White Oak Global Advisors (“White Oak”), announced it has provided a $25 million senior secured ABL facility to Rango, Inc. (“Rango” or “the Company”), a national mining services provider.
Proceeds will be used to refinance existing indebtedness and support the ongoing working capital needs of the business.
Founded in 2012 and headquartered in Mesa, Arizona, Rango is a diversified mining services platform operating across 13 states and serving critical end markets including aggregates, precious metals and frac sand, among others. Rango’s services are designed to support efficient, reliable, and safety-focused operations. With demand for outsourced mining services continuing to evolve, the new facility positions the company to further strengthen its platform and support its customers.
“We’re pleased to have completed this refinancing with WOCF, which enhances our financial flexibility and strengthens our capacity to pursue new mining projects,” said Scott Bostwick, CFO at Rango, Inc. “This new structure positions us to execute reliably in the field while investing in the equipment, workforce and infrastructure needed for continued growth.”
“Rango represents the type of essential business that drives industrial activity and economic growth across the U.S.,” said Andre Hakkak, CEO and Co-Founder of White Oak Global Advisors. “We are proud to support the company with a flexible financing solution that enhances its ability to invest in operations, expand capacity and continue delivering critical services to its customers.”
“The team at Rango has built an impressively scaled business centered around operational excellence,” said Albert Brandano, Partner at White Oak Global Advisors. “We are excited to be partnering with them during Rango’s next stage of growth.”
“This transaction reflects our ability to structure ABL solutions for capital-intensive businesses with dynamic working capital needs,” said David Montiel, Managing Director for Underwriting at White Oak Commercial Finance. “We look forward to supporting Rango as it continues to execute across its project base.”
About White Oak Commercial Finance
White Oak Commercial Finance, LLC is an affiliate of White Oak Global Advisors, LLC (“White Oak”) and provides financial solutions including asset-based lending, full service factoring, lender financing, invoice discounting, government contract financing, supply chain financing, inventory financing, US import/export financing, trade credit risk management, accounts receivable management and credit/collections services. The firm has offices and personnel throughout the US, UK and Australia. White Oak Global Advisors, LLC and its financing affiliates provide over twenty lending products to the market that include term, asset-based, and equipment loans. Since its inception in 2007, White Oak and its affiliates have deployed over $22.5 billion. More information can be found at www.whiteoaksf.com/commercialfinance.
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