Capital infusion enables Waller, Texas-based construction and engineering leader to refinance its existing credit facility and support continued growth.
NEW YORK, Jan. 6, 2022 /PRNewswire/ — Tiger Finance has closed on a $13.75 million term loan for Waller, Texas-based Laney Directional Drilling—a full-service trenchless construction and engineering firm known for its highly complex drilling operations on major infrastructure projects.
Bob DeAngelis: “Laney has all the in-house expertise needed to carry out the engineering, spec work and execution on highly specialized, complex infrastructure projects. They are well positioned for growth and this transaction is an excellent example of how Tiger’s understanding of the sector and assets provided the best structure to support that growth.”
The transaction, which closed on December 27, comes at a time of increased demand for Laney’s specialized services, said David Kennedy, Senior Associate, Tiger Finance. “After decades in the oil and gas sector, Laney Directional Drilling expanded its focus to assisting owners, contractors, municipalities, project developers and engineers with long, complex and challenging trenchless crossings on infrastructure projects in the power, wind and water sectors,” he noted.
The company specializes in Horizontal Directional Drilling, a trenchless method of installing pipelines and conduits, as well as the Direct Pipe Method®, which is ideal for crossings under levees and environmentally sensitive areas, as well as for outfall or shore approach applications.
To date, Laney has completed 2,800 trenchless crossings and more than 1,000 miles of trenchless pipeline installations.
“We are excited to partner with Tiger for the next phase of growth at Laney,” said Jim Katosic, Senior Vice President and Chief Financial Officer at Laney. “Tiger recognized the potential in the sector for the foreseeable future and provided the necessary liquidity to meet the pending demand for our services.”
“Laney has all the in-house expertise needed to carry out the engineering, spec work and execution on highly specialized, complex infrastructure projects,” said Bob DeAngelis, Executive Managing Director at Tiger Finance. “They are well positioned for growth and this transaction is an excellent example of how Tiger’s understanding of the sector and assets provided the best structure to support that growth.”
Tiger Finance is a division of Tiger Capital Group, which specializes in the provision of secured debt financing and equity investments, as well as comprehensive appraisals for the ABL industry and the disposition of consumer and industrial assets.
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Laney is commemorating its 35th year in the trenchless industry.
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In May 2018, Laney completed a world-record Direct Pipe installation in Brownsville, Cameron County, Texas.
- HDDAn Overview of Horizontal Directional Drilling and the Direct Pipe Method
Dive deeper into what the Horizontal Directional Drilling and the Direct Pipe® method are all about.
- Direct PipeDirect pipe is no Panacea, but it could be the right solution
Direct Pipe is not a panacea or a solution for every site or site condition; however, it could be the right solution for many projects.
- Direct PipeLaney’s Direct Pipe® Method Sets World Length Record With Valley Crossing Project
Laney Directional Drilling set a world record for the longest successful Direct Pipe® installation to date globally.
- CorporateLaney Group Names New President
The board of Laney Group, Inc. (“Laney” or the “Company”) is excited to announce the promotion of Rahul Mangire as President.
