PLATINUM EQUITY'S CREDIT TEAM LEADS NEW TERM LOAN FOR RELAM

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Oct 10, 2024, 10:00 ET

Incumbent lender Platinum steps up again with new financing solution to support RELAM's continued growth

LOS ANGELES, Oct. 10, 2024 /PRNewswire/ -- Platinum Equity announced today it led a new and upsized Second-Lien Term Loan ("Term Loan") for Railway Equipment Leasing and Maintenance Inc. ("RELAM") to refinance the company's existing indebtedness and support future growth of the business.

RELAM is a provider of specialty rental equipment for recurring, regulatory-driven maintenance-of-way ("MOW") work on railroads, serving the industry's largest operators and contracted service providers.

"RELAM has been a great partner and the company continues to perform," said Platinum Equity Co-Presidents Jacob Kotzubei and Louis Samson in a joint statement. "As an incumbent lender who knows the business, the leadership team and the sector, we were in a great position to provide RELAM a refinancing solution that meets the current and future needs of the company and its sponsor."

The RELAM financing is led by Platinum Equity's dedicated credit team, which seeks opportunities to provide debt capital to companies for a variety of uses, including acquisitions, refinancings and recapitalizations.

"Our goal is to forge meaningful long-term partnerships with borrowers in which we can add real value and earn the right to provide solutions for whatever they need time and again," said Platinum Equity Managing Director and Global Head of Credit Michael Fabiano. "RELAM has been a great fit for our approach. We are enthusiastic to partner with Paceline again and continue supporting RELAM's next phase of growth."

Platinum's credit team targets companies that generally have $15 to $75 million of EBITDA and are primarily based in North America.

Houlihan Lokey acted as the exclusive placement agent to RELAM. Phoenix Merchant Partners participated in the financing alongside Platinum Equity.

About Platinum Equity

Founded in 1995 by Tom Gores, Platinum Equity is a global investment firm with more than $48 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^® – 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. Over the past 29 years Platinum Equity has completed more than 450 acquisitions and debt financings.

Contact:

Dan Whelan
Platinum Equity
[email protected]

SOURCE Platinum Equity