Marr Contracting was exploring funding solutions to refinance its existing bank debt. Marr Contracting required a financial partner to provide funding capacity and flexibility for its robust pipeline of domestic and international growth opportunities.
Based in Sydney, New South Wales, Marr Contracting (The Men from Marr’s) are a fourth-generation family-owned company and world leaders in the design and delivery of heavy lift luffing tower cranes and heavy lifting services. Marr’s have more than 90 years’ experience working on large-scale construction projects in Australia and around the world. They are problem solvers who love a challenge and have a string of ‘world firsts’ to their name – including the design of the world’s largest capacity tower crane, the Marr 2480D.
We began discussions with Marr’s in early 2021 to explore a funding solution for the Company to refinance its existing bank debt. Marr’s required a financial partner to provide funding capacity and flexibility for its robust pipeline of domestic and international growth opportunities. Marr’s has experienced significant demand due to their ability to create customised solutions to complex craneage problems while reducing site congestion and improving safety on-site for clients.
Marr’s partnered with us because of our relationship-based approach to lending, responsiveness, and our ability to offer a bespoke funding solution while underwriting and holding the entire investment. We were also able to move quickly to transact in a relatively short timeframe.
In July 2021, we provided a six-year funding solution consisting of a senior secured term loan, a multi-currency revolving credit facility and committed to a multi-currency delayed draw term loan facility. The revolving and delayed draw facilities are available to support growth.
We are pleased to partner with Marr’s to support their expansion. Our investment is evidence of our ability to execute a flexible, tailored financing solution in a short timeframe.