GB Merchant Partners Provides $13 Million Loan to Gradient Resources
BOSTON, MA – GB Merchant Partners, the debt and equity affiliate of Gordon Brothers Group, announced today that it provided a $13 million term loan to Gradient Resources, a geothermal energy company based out of Reno, NV. This term loan is supported by equipment. This capital will be used to support Gradient’s drilling operations.
“We are thrilled to be part of such an exciting project and really enjoyed working with such a strong and dynamic management team” stated Gary Prager, Managing Director with GB Merchant Partners.
“Few organizations have as much detailed knowledge and direct expertise as Gradient within the geothermal industry,” commented Lisa Galeota, Director with GB Merchant Partners. “We are grateful for having the opportunity to assist them financially and we look forward to following Gradient ’s continued success.”
GB Merchant Partners combines over a century of experience with its global reach to provide innovative debt financing solutions worldwide to private and public middle-market companies in the retail, consumer products, distribution, wholesale and manufacturing sectors.
About GB Merchant Partners
GB Merchant Partners (www.gbmerchantpartners.com), the debt and equity affiliate of Gordon Brothers Group with over $500 million of capital under management, focuses on private equity, structured debt and secondary debt investments. Debt investments are made by funds which invest in structured loans in the form of junior secured,“Tranche B” or enterprise value loans,,ranging from $5 to $50 million,to middle-market companies in the distribution, wholesale, industrial, retail, consumer products and real estate sectors. Through various funds, equity investments take majority and minority equity positions in middle-market retail and consumer products companies.
About Gradient Resources
Gradient Resources is headquartered in Reno, Nevada with a regional office, drilling operations center, and well-cementing plant near its Patua, Salt Wells and Fallon projects. Gradient was initially incorporated as a Colorado corporation in 1991. Gradient's core business is the development, design, construction, and operation of clean, renewable electric power generation projects and the sale of baseload renewable
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