HOUSTON – (COMMERCIAL THREAD) – BlackGold Capital Management LP (âBlackGoldâ), a private credit investment firm focused on the energy sector, today announced that it has entered into a senior secured term loan with Eastham Enterprises , Inc., a diversified, multi-generational oil services company. Eastham provides drilling, machining and forging services to energy companies. The loan transaction included co-investors.
Eastham’s management team has been successful in the drilling industry for over four decades while maintaining a prudent balance sheet and navigating volatile commodity prices. The forging activity, started in 1913, has continued to innovate and offer its customers high added value products.
âWe continue to help fill the void left by traditional financial institutions and believe this funding should provide our investors with attractive yield, low net debt leverage and strong asset coverage,â said Erik Dybesland, co-founder of BlackGold. âAs capital for the energy sector continues to be scarce, our ability to manage risk and generate returns for our investors, while creating solutions for borrowers, has enabled BlackGold to secure underwriting. convincing. ”
Adam Flikerski, Co-Founder, added: âWe are delighted to partner with Eastham. We continue to find opportunities in mid-sized energy companies for creative structures to meet their financing needs. Our team diligently adheres to our commitment to assess downside risks and aims to provide a stream of returns that our investors have come to expect. ”
BlackGold Capital Management, founded in 2006, has invested approximately $ 8 billion in public and private energy companies, upstream, midstream and petroleum services.
BlackGold Capital Management LP is a leading investment firm focused on opportunistic, catalyst driven investments in the energy sector. The company team has decades of experience and expertise in the energy field with many long-standing relationships with the industry. Founded in 2006, BlackGold seeks to generate attractive returns for its investors by using an in-depth, fundamental research approach in the analysis of energy assets and capital structures. The company manages approximately $ 1 billion in capital on its investment platform which includes mixed public and private strategies as well as managed accounts. KKR & Co. LP, a global investment firm that manages investments in multiple asset classes, holds a passive 24.9% minority interest in BlackGold Capital Management LP. For more information, please visit www.BlackGoldCap.com.