ORIX Leveraged Finance Provides Junior Capital Investment Supporting Recapitalization of United States Environmental Services
ORIX Leveraged Finance announced today the closing of a junior capital facility to United States Environmental Services (“USES”). Proceeds recapitalize the company and support continuing growth of the business. ORIX Leveraged Finance served as lead arranger, administrative agent and sole lender.
Based in Houston, Texas, USES provides specialized industrial, environmental and maritime cleaning and remediation services to various end-market customers including petroleum refineries, chemical and heavy manufacturers, bulk storage facilities, maritime and shipping companies, and power generators in the Gulf States. The company is principally owned by Florida Capital Partners.
Ted Thorp, co-head of ORIX Leveraged Finance, said, “We are pleased to continue our relationship with USES to support the significant growth of the business executed by the proven ownership group and management team. The cleaning solutions and services provided by USES are a critical component in keeping key industrial facilities clean and well maintained, as well as helping to keep our environment clean and safe following environmental adversities.”
Felix Wong, managing director at Florida Capital Partners, credited ORIX Leveraged Finance with putting together a creative junior capital investment. “We’re excited to once again partner with ORIX Leveraged Finance. They provided the ability to structure an attractive junior capital investment to further support our continued success in the business.”
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