Capital One announced today that it has served as administrative agent for an amended and restated credit facility for EquipmentShare, a nationwide construction solutions provider. EquipmentShare will use the facility, which increased its borrowing capacity from $1.2 billion to $2.1 billion, to expand its footprint and finance further growth of the company. The revolver has a $1.0 billion accordion option.
In August 2021, Capital One served as the lead arranger and administrative agent for EquipmentShare’s original line of credit. Since that time, EquipmentShare has entered a number of new markets nationwide and served thousands of new customers.
“At Capital One, we are deeply committed to working hand-in-hand with our clients,” said Tim Tobin, head of asset based lending at Capital One. “EquipmentShare’s growth and success is truly impressive and we’re thrilled to continue our partnership with EquipmentShare as they evolve the business and expand their footprint.”
“This increased asset-based lending facility led by Capital One will allow EquipmentShare to expand our nationwide footprint,” said Trevor Schauenberg, EquipmentShare’s chief financial officer. “This liquidity will enable EquipmentShare to continue to deliver productivity and value to our customers and the construction industry.”
Founded in 2014 and incorporated in 2015, EquipmentShare solves industry pain points through smart jobsite technology and equipment rental, retail and service centers, the company said.
Capital One Financial Corp. (www.capitalone.com) is a financial holding company whose subsidiaries, which include Capital One, N.A., and Capital One Bank (USA), N.A., had $307.9 billion in deposits and $440.3 billion in total assets as of June 30, 2022. It is headquartered in McLean, Va.
EquipmentShare is headquartered in Columbia, Mo. To learn more, visit www.equipmentshare.com.