Siena Lending Group LLC (“Siena”) announces the completion of a $15 million credit facility for Ranger Subsea Nig Ltd. to fund expanding operations off the coast of Lagos, Nigeria.
Headquartered in Houston, TX, Ranger Offshore, the parent and its subsidiaries, provides subsea construction services and support for the offshore oil and gas industry, including subsea inspection, repair and maintenance, decommissioning and new construction projects in the U.S. Gulf of Mexico, Mexico, West Africa, and select international markets. Ranger Offshore is a portfolio company of SunTx Capital Partners. FocalPoint Partners LLC acted as the debt and financial advisor on the transaction.
David Grende, President and CEO of Siena Lending Group, said, “We are very pleased to provide the credit facility to Ranger Subsea Nig Ltd to support their growth and expansion in Nigeria. We were able to respond quickly to the request and to deliver a commitment and closing within the time frame requested by the company.”
Chris Guinta, a Director of Ranger Subsea Nig Ltd. said, “We are pleased to have established the credit facility and look forward to expanding the relationship with Siena in the future.”