Mountain Ridge Capital and Great Rock Capital, two asset-based commercial finance companies, have closed a senior secured credit facility for Delos Capital-backed Hop Energy LLC.
Founded in 1995 and headquartered in White Plains, N.Y., Hop Energy is a home services provider serving approximately 90,000 customers across two areas: distribution of home heating oil and the installation and servicing of heating, ventilation and air conditioning systems, heat pumps and other home services. The credit facility refinanced the company’s existing bank revolving line of credit and will provide additional liquidity to support the growth expectations of the business.
“The credit facility we executed with our lending partner, Mountain Ridge, maximizes the liquidity available to HOP and will provide them with the increased financial flexibility to support their future growth initiatives,” says Stuart Armstrong, chief executive officer of Great Rock Capital.
Mountain Ridge will serve as the administrative agent.