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Case Study

Marr Contracting secures growth financing

Based in New South Wales, Australia, Marr Contracting Pty Ltd is a family-owned industry leader in the design and delivery of heavy lift luffing tower cranes and craneage services.

Case Study

Marr Contracting secures growth financing

Based in New South Wales, Australia, Marr Contracting Pty Ltd is a family-owned industry leader in the design and delivery of heavy lift luffing tower cranes and craneage services.

At a Glance

Securing additional funding capacity to support growth capex​​​​​

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.

Relationship since 2021
Transaction details:
  • Senior Term Loan
  • Revolving Credit Facility
  • Delayed Draw Senior Term Loan Facility
“Pricoa’s relationship-focused approach and willingness to understand our business and tailor the financing solution to suit our needs were key differentiators when we were selecting the partner for our company. Their financing package gives us significant capacity to allow us to execute on the increasing pipeline of opportunities both within Australia and abroad. We are pleased to welcome them as a long-term partner.”
Simon Marr Managing Director, Marr Contracting Pty Ltd

The Full Story

Offering a bespoke funding solution​​​

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.​

Large crain

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Meet our team

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Michael Jones headshot
Michael Jones, CFA
Senior Vice President
+61.2.8248.9708
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New South Wales, Victoria & New Zealand
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Robert Caggiano headshot
Robert Caggiano
Vice President
+61.2.8248.9706
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Queensland, S Australia & W Australia

Perspectives

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The Pricoa Private Capital Guide to Senior Debt.
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