Platinum Equity’s Credit Team Provides Term Loan to RELAM to Support Company’s Growth
Summary
In July 2020, affiliates of Paceline Equity Partners, LLC (Paceline) combined two existing MOW railroad equipment rental businesses to create RELAM, now one of the most important MOW rental companies in North America. RELAM occupies a unique position in the industry by providing value to equipment manufacturers, as well as railroad operators and maintenance contractors.The RELAM financing is led by Platinum Equitys dedicated credit team, which seeks opportunities to provide debt capital to companies for a variety of uses, including acquisitions, refinancings and recapitalizations.We strive to forge meaningful partnerships with borrowers and their sponsors where we can add material value to the companys strategic plans, said Platinum Equity Managing Director and Global Head of Credit Michael Fabiano. RELAM is a great fit with a resilient financial profile, an experienced and capable management team, and a business model we know very well. We are excited to partner with Paceline to support the next stage of RELAMs growth.Platinums credit team targets companies that generally have $15 to $75 million of EBITDA and are primarily based in North America.Our credit team is actively looking for more opportunities to put our financial and operational expertise to work, added Mr. Fabiano.Houlihan Lokey acted as the exclusive placement agent to RELAM.Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with approximately $47 billion of assets under management and a portfolio of approximately 50 operating companies that serve customers around the world. Platinum Equity specializes in mergers, acquisitions and operations a trademarked strategy it calls M&A&O\xae acquiring and operating companies in a broad range of business markets, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications and other industries.