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Case Studies

Oilfield Equipment Manufacturer


Shutterstock 1499152838


  • The Com­pa­ny pro­vides well site equip­ment rentals and relat­ed ser­vices to many of the lead­ing pub­lic and large inde­pen­dent explo­ration & pro­duc­tion companies
  • The Com­pa­ny faced declin­ing sales, slow pay­ing cus­tomers includ­ing a sig­nif­i­cant A/R con­cen­tra­tion account, and con­strained work­ing capital
  • In addi­tion, senior lenders com­menced for­bear­ance pro­ceed­ings and the Com­pa­ny was placed on month-to-month for­bear­ance agreements


  • Chi­ron mar­ket­ed the deal to over 250 lenders and suc­cess­ful­ly placed new debt facil­i­ties total­ing over $20 MM, includ­ing addi­tion­al bor­row­ing capac­i­ty to sup­port the Com­pa­ny’s growth
  • Chi­ron elim­i­nat­ed about $34 MM of debt and cre­at­ed $7 MM in pre­vi­ous­ly unre­al­ized equi­ty value
  • The refi­nanc­ing pro­vid­ed nec­es­sary work­ing cap­i­tal to run the busi­ness and max­i­mum avail­abil­i­ty against its assets. In addi­tion, the new lenders pro­vid­ed CAPEX avail­abil­i­ty and a will­ing­ness to sup­port the Company’s growth

The Challenge

The Company faced declining sales, slow-paying customers including a significant A/R concentration account, and constrained working capital.

The Chiron Solution

Chiron marketed the deal to over 250 lenders and successfully placed new debt facilities totaling over $20 MM, including additional borrowing capacity to support the Company's growth.

The Result

Chiron eliminated about $34 MM of debt and created $7 MM in previously unrealized equity value.

Is your com­pa­ny per­form­ing like it should?