Blue Tide Secures Upsized Revolving Credit Facility
Blue Tide, a North American producer of re-refined Group II+ base oils, has successfully upsized its revolving credit facility with Texas Capital as the lead and Origin Bank joining as a lending partner. The company initially secured a facility with Texas Capital in April 2024 to support its used motor oil (UMO) processing unit operations and hydrotreater construction.
With base oil production now operational in Baytown, Texas, the additional funding will support working capital and expansion initiatives as Blue Tide moves into full-scale operations. The expanded credit facility aims to enhance operational efficiencies and expand production capabilities, marking an important milestone for the company's growth strategy.
Blue Tide, un produttore nordamericano di oli di base Group II+ ri-raffinatati, ha ampliato con successo la sua linea di credito revolving con Texas Capital come lead e Origin Bank come partner di prestito. L'azienda aveva inizialmente assicurato una linea di credito con Texas Capital nell'aprile 2024 per supportare le operazioni della sua unità di lavorazione dell'olio motore usato (UMO) e la costruzione dell'idrotrattore.
Con la produzione di oli di base ora operativa a Baytown, Texas, il finanziamento aggiuntivo supporterà il capitale circolante e le iniziative di espansione mentre Blue Tide si prepara a operazioni su larga scala. La linea di credito ampliata mira a migliorare l'efficienza operativa e ad ampliare le capacità produttive, segnando una tappa importante per la strategia di crescita dell'azienda.
Blue Tide, un productor norteamericano de aceites base Group II+ re-refinados, ha ampliado con éxito su línea de crédito revolving con Texas Capital como líder y Origin Bank como socio prestamista. La empresa había asegurado inicialmente una línea de crédito con Texas Capital en abril de 2024 para apoyar las operaciones de su unidad de procesamiento de aceite de motor usado (UMO) y la construcción del hidrotratador.
Con la producción de aceite base ahora operativa en Baytown, Texas, la financiación adicional apoyará el capital de trabajo y las iniciativas de expansión mientras Blue Tide avanza hacia operaciones a gran escala. La línea de crédito ampliada tiene como objetivo mejorar la eficiencia operativa y expandir las capacidades de producción, marcando un hito importante para la estrategia de crecimiento de la empresa.
Blue Tide는 북미의 재정제조 Group II+ 기초유 생산업체로서, Texas Capital을 주도 은행으로, Origin Bank를 대출 파트너로 하여 회전 신용 시설을 성공적으로 확대했습니다. 이 회사는 2024년 4월에 Texas Capital과 함께 사용된 모터 오일(UMO) 처리 유닛 운영 및 수소 처리기 건설을 지원하기 위해 신용 시설을 확보했습니다.
현재 Baytown, Texas에서 기초유 생산이 운영되고 있는 가운데, 추가 자금은 운영 자본과 확장 계획을 지원할 것입니다. 확대된 신용 시설은 운영 효율성을 향상시키고 생산 능력을 확장하는 것을 목표로 하며, 회사의 성장 전략에 있어 중요한 이정표를 나타냅니다.
Blue Tide, un producteur nord-américain d'huiles de base Group II+ re-raffinées, a réussi à élargir sa facilité de crédit revolving avec Texas Capital en tant que leader et Origin Bank en tant que partenaire de prêt. L'entreprise avait initialement sécurisé une facilité avec Texas Capital en avril 2024 pour soutenir les opérations de son unité de traitement d'huile moteur usagée (UMO) et la construction de l'hydrotraitement.
Avec la production d'huiles de base maintenant opérationnelle à Baytown, Texas, le financement supplémentaire soutiendra le fonds de roulement et les initiatives d'expansion alors que Blue Tide passe à des opérations à grande échelle. La facilité de crédit élargie vise à améliorer l'efficacité opérationnelle et à élargir les capacités de production, marquant une étape importante pour la stratégie de croissance de l'entreprise.
Blue Tide, ein nordamerikanischer Hersteller von re-raffinierten Group II+ Grundölen, hat erfolgreich seine revolvierende Kreditfazilität mit Texas Capital als Hauptbank und Origin Bank als Kreditpartner erweitert. Das Unternehmen hatte ursprünglich im April 2024 eine Fazilität bei Texas Capital gesichert, um die Betriebsabläufe seiner Einheit zur Verarbeitung von gebrauchten Motorölen (UMO) und den Bau des Hydrotreters zu unterstützen.
Mit der nun in Betrieb genommenen Produktion von Grundölen in Baytown, Texas, wird die zusätzliche Finanzierung das Betriebskapital und Expansionsinitiativen unterstützen, während Blue Tide in den Vollbetrieb übergeht. Die erweiterte Kreditfazilität zielt darauf ab, die betrieblichen Effizienzen zu verbessern und die Produktionskapazitäten zu erweitern, was einen wichtigen Meilenstein für die Wachstumsstrategie des Unternehmens darstellt.
- Successfully upsized revolving credit facility
- Base oil production now operational in Baytown facility
- Additional working capital secured for expansion initiatives
- Added new lending partner (Origin Bank)
- None.
Blue Tide initially secured a facility with Texas Capital in April 2024 to support initial operations of its used motor oil ("UMO") processing unit and provide additional flexibility during construction of its hydrotreater. With base oil production now successfully underway in
"This expanded credit facility reinforces Blue Tide's financial strength and positions us for continued growth across the continent," said Terry McHugh, CEO of Blue Tide. "Texas Capital has been a valued partner, and we're pleased to welcome Origin Bank as we enter our next phase. We're confident that this capital will provide the flexibility needed to enhance operational efficiencies, expand our production capabilities, and position us for long-term industry success."
The transaction underscores Blue Tide's ability to establish strong financial partnerships that align with its long-term vision.
"It was an honor to work alongside Blue Tide's best-in-class management team and to lead this increased credit facility to help facilitate the Company's continued growth," said Casey Lowary, Managing Director at Texas Capital.
The upsized credit facility marks an important milestone for Blue Tide, reinforcing its ability to successfully execute complex projects through completion and establish a significant presence in an increasingly relevant market.
About Blue Tide
Blue Tide is focused on building and developing a network of used motor oil recycling facilities across
About Texas Capital
Texas Capital Bancshares, Inc. (NASDAQ®: TCBI), a member of the Russell 2000® Index and the S&P MidCap 400®, is the parent company of Texas Capital Bank ("TCB"). Texas Capital is the collective brand name for TCB and its separate, non-bank affiliates and wholly-owned subsidiaries. Texas Capital is a full-service financial services firm that delivers customized solutions to businesses, entrepreneurs and individual customers. Founded in 1998, the institution is headquartered in
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SOURCE Blue Tide
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