FEATURED NEWS
Expedition Closes $100M Revolving Credit Facility to Support Ongoing Rockies-Focused Water Midstream Development
11.13.19
Denver, CO – November 13, 2019 – Expedition Water Solutions (“Expedition”), the leading midstream produced water infrastructure company in the Rockies, announced today it has expanded its revolving credit facility to $100 million. Cadence Bank (“Cadence”) served as lead arranger and administrative agent.
The increased facility will fund Expedition’s continued pipeline and facilities growth initiatives to service long-term, contracted customers in the Denver–Julesburg, Green River and Powder River Basins. The syndicated bank group also includes UMB, First Horizon and Woodforest.
Zachary Neal, Chief Commercial Officer and CFO of Expedition commented, “We are delighted to continue and grow our relationship with our syndicate group of banks. The increased capital commitment provides us capital flexibility as we expand our pipeline and facilities network in the Rockies alongside the growth of our long-term, contracted producer customers.”
About Expedition Water Solutions
Expedition Water Solutions is a high-growth, acquisitive, private equity-backed water midstream company with principal operations in the Denver-Julesburg Basin of Colorado and the Powder River Basin of Wyoming. Expedition is led by Jim Goddard, President and Founder, and Zach Neal, Chief Commercial Officer and CFO. Founded in 2013, Expedition has demonstrated consistent growth since inception and has grown to become a water midstream leader in its markets.
About Platform Partners LLC
Founded in 2006, Platform Partners LLC is a private investment company based in Houston that makes investments in lower middle-market companies with the intent of growing these businesses into industry leaders through a combination of organic and acquisition growth. Platform invests through a perpetual holding company structure allowing for a long-term, patient approach to partnering with entrepreneurs to build companies. For more information, please visit www.platformllc.com.