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Stonebriar Closes CAD $88 Million of Equipment Financing to Heavy Metal Equipment

Stonebriar Commercial Finance (“Stonebriar”) today announced the closing of a seven-year CAD $88 million equipment financing facility to Heavy Metal Equipment & Rentals (“HME” or “the company”), facilitating the acquisition of (10) CAT 797 ultra-class haul trucks. This is the third transaction closed with the company in the last 2 months, totaling CAD $122 million.

Ryan Bohlert, the origination lead and Managing Director at Stonebriar, stated, “I’ve had the pleasure of knowing the HME management team for over a decade and have enjoyed watching the company grow into the largest heavy equipment rental and service business in Canada. Being able to perform on a deal of this magnitude and complexity in a short time frame shows the complete alignment and capability of the Stonebriar team.”

Jesse van der Werf, President and CEO of Heavy Metal stated “Heavy Metal provides a unique service to our large mining clients by raising the necessary capital, sourcing and purchasing equipment to meet their needs, providing full maintenance services and then reallocating or disposing of equipment when no longer needed, all billed on an hourly basis.   Building strong relationships with key financial partners like Stonebriar is critical to raising the capital required to meet our clients’ growing needs.”

About Stonebriar:  Stonebriar, an Eldridge Industries business, originates and services a portfolio of lease and loan products secured by essential income-producing assets across the credit spectrum.  Based in Plano, TX, Stonebriar’s portfolio serves as a catalyst for the U.S. economy by providing capital needed in key sectors including manufacturing, marine, aviation, rail, energy and real estate. To learn more about Stonebriar, please visit www.StonebriarCF.com or contact Ryan.Bohlert@StonebriarCF.com.

About Eldridge Industries: Eldridge Industries invests in businesses across the Insurance, Asset Management, Technology, Mobility, Sports & Gaming, Media, Real Estate and Consumer landscapes. The firm seeks to build and grow businesses led by proven management teams that have demonstrated leadership and experience to scale an enterprise. Eldridge Industries is headquartered in Greenwich, Connecticut, with additional offices in Beverly Hills, New York and London. To learn more about Eldridge Industries, please visit www.Eldridge.com.

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Stonebriar Commercial Finance
https://stonebriarcf.com