Encina Private Credit served as administrative agent and collateral agent for a senior secured credit facility supporting H.I.G. Capital’s acquisition of Penhall Company, a provider of specialty concrete services. Marathon Asset Management led the facility.
“We are extremely excited to partner with Penhall, H.I.G. Capital and Marathon Asset Management by delivering our unique suite of lending capabilities in the form of First Out financing,” Mike Hensinger, president and CEO of Encina Private Credit, said.
Headquartered in Irving, TX, Penhall has a network of more than 40 branch and service locations throughout the U.S. and Canada. Since its founding in 1957, the company has served more than 160,000 clients across a range of end markets, including commercial, residential, industrial and infrastructure. Penhall provides a range of concrete services, including cutting and coring, specialized demolition, GPR concrete scanning, digital X-ray, utility locating, fiber-reinforced polymer (FRP), grinding and grooving, and bridge services.