Tellus Equipment Solutions has successfully closed a new $115 million credit facility. As per their recent press release, this significant financial backing will bolster the company’s capability to invest in operational enhancements and strategic acquisitions.
Jeff Donaldson, CEO of Tellus, stated, “This Credit Facility will allow us to invest further in our employees and facilities while also improving our capabilities and business processes to serve our customers better.”
Tellus, a trusted partner of John Deere, holds exclusive operational rights across 51 Texas counties. The company offers equipment, parts, and service support to a diverse customer base, including farmers, ranchers, and commercial businesses.
“We take great pride in our reputation as a trusted partner of John Deere and as a leading provider of agricultural equipment and solutions in Texas,” Donaldson said. He further noted that the company would invest in employee training and development programs, facility improvements, capability building, and pursuing strategic acquisitions to expand its footprint.
In a climate marked by recent instability and tight credit conditions in the banking sector, closing this substantial Credit Facility is seen as an affirmation of the confidence in Tellus and its growth strategy.
Anthony Willis, Managing Director of Cardinal System Holdings, the parent company of Tellus, expressed his enthusiasm, stating, “We are thrilled with the closing of this Credit Facility in terms of pricing, sizing, and participation achieved. This is a testament to the confidence in our company and growth strategy. We look forward to building Tellus both organically and through strategic acquisitions.”
The newly secured Credit Facility matures in five years and includes an accordion feature designed to provide additional funding for future acquisitions. This financial arrangement saw participation from Hancock Whitney and Northern Trust.
The new credit arrangement will enable Tellus to continue providing exceptional customer service, maintain its knowledgeable staff, and offer top-quality agricultural equipment and solutions to its customers, strengthening its position as a trusted agricultural solutions provider in Texas.
Photo by Scott Ymker on Unsplash
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