White Oak Commercial Finance provides $25m ABL facility to Rango, Inc.

White Oak Commercial Finance (WOCF), an affiliate of White Oak Global Advisors, has provided a US$25 million senior secured asset-based lending (ABL) facility to national mining services provider Rango, Inc..

The financing will be used to refinance existing debt and support the company’s ongoing working capital requirements as it continues to expand operations across the US mining sector.

Founded in 2012 and headquartered in Mesa, Arizona, Rango operates a diversified mining services platform across 13 states, serving sectors including aggregates, precious metals and frac sand.

The company said the new facility will strengthen its operational platform and support investment in equipment, workforce and infrastructure as demand for outsourced mining services continues to evolve.

Scott Bostwick, CFO at Rango, Inc., said: “We’re pleased to have completed this refinancing with WOCF, which enhances our financial flexibility and strengthens our capacity to pursue new mining projects.

“This new structure positions us to execute reliably in the field while investing in the equipment, workforce and infrastructure needed for continued growth.”

“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.”

David Montiel, Managing Director for Underwriting at White Oak Commercial Finance, said the transaction highlighted the lender’s ability to structure financing solutions for capital-intensive businesses with evolving working capital needs.

“We look forward to supporting Rango as it continues to execute across its project base,” he said.