Anvil Energy Partners and the Boomerang Credit Fund, along with Channel Investments announced this Thursday a business combination to create a $300 million upstream fund for business borrowers, via a static pool lending facility.
Firstly, the new company will be branded as Anvil Channel Energy Solutions. It will be a new private lender, aimed to originate new issue facilities for borrowers seeking between $10 and $100 million for refinancings; also, acquisitions and development of energy assets.
Secondly, the firm pretends to combine origination, credit expertise, and in-house technical engineering, leveraged from its mother companies’ teams. The track record of them all will position the new firm as a leader in upstream investments.
Thirdly, Anvil Channel Energy Solutions will have its headquarters in Houston, Texas; it will also have offices in Los Angeles, California; and Stamford, Connecticut. In fact, it is actively seeking opportunities in the domestic United States and Canada.
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Anvil Channel to strengthen the small and mid-cap market in upstream
On the other hand, James Avery, CEO of Anvil Channel, said. “We look forward to the structural integration of our firms and coming to market with our first transactions in 2021.” As for the trend of renewable energy, the CEO remarked. “We believe that while renewable energy and alternative power solutions are an integral part of the global energy mix going forward; upstream oil and gas are still critical elements of the U.S. energy complex for the foreseeable future.”
In addition to this, Cary Meadow, Executive Chairman of Anvil Channel, commented. “We are excited about the prospects our combined teams offer in terms of addressing the largely unmet small and mid-cap market for direct lending.”
He also said. “We believe in the continued long term need for uni-tranche capital deployment to environmentally sound upstream energy companies.” Such sentiment was backed by David O’Driscoll, President and CIO of the new company, who said. “we are excited to provide crucial liquidity to the market to facilitate the strategic initiatives of our clients.”
Finally, his colleague and Head of Origination, Rob Lindermanis, noted. “we look to provide capital to companies positioned for growth and expansion in this challenging environment.”