Little Red Services, Inc. (“LRS”) provides specialized pressure pumping services to the principal oilfield operators on the North Slope of Alaska. In 2008, LRS was acquired through a management-led buyout sponsored by Endeavour Capital. Following four successful years of operations, LRS desired to restructure its existing credit arrangements.
Zachary Scott was engaged to structure and arrange a refinancing of the company in order to retire the junior acquisition capital, extend maturities, provide a more flexible structure, and fund a shareholder dividend.
Zachary Scott arranged a five-year reducing revolver facility that allowed the funding objectives to be achieved and provided LRS a flexible on-going capital structure that better supports its operating plan and strategic objectives.