Flotek lands $120M term loan to fund data analytics push
What's the deal? Flotek IndustriesDealroom has a profile for this one. Try Dealroom →, the Houston-based chemistry and data technology company, has secured a $120 million senior secured term loan. Elda River Capital Management is lead lender, with an affiliate of Antarctica CapitalDealroom has a profile for this one. Try Dealroom → also participating. The deal provides $75 million at closing and up to $45 million of delayed-draw availability.
What's the endgame? Flotek plans to fund capital spending for its growing Data Analytics segment, refinance an existing $40 million term loan, and cover working capital. The financing more than doubles the size of the debt it replaces.
Why now? The company's existing asset-based loan will stay in place, offering up to $20 million of extra borrowing capacity, with its maturity extended from October 31, 2026 to October 31, 2027.
Flotek serves the energy industry, using near real-time data to deliver chemistry and analytics solutions. It holds over 130 patents, more than 20 years of field and laboratory data, and a presence in over 59 countries.
Between the lines: The loan "reflects our lenders' confidence in our corporate strategy, differentiated technology platform, and long-term opportunities," said chief executive officer Ryan Ezell. Elda River partner and co-founder Craig Rohr called Flotek "a diversified portfolio of growth opportunities across the energy ecosystem."
Piper Sandler and Co.Dealroom has a profile for this one. Try Dealroom → acted as sole and exclusive lead arranger and bookrunner.
The signal: Flotek is leaning into data analytics as a growth engine beyond its chemistry roots. The step-up in debt capacity signals lender appetite for energy-sector technology plays that pair chemistry with real-time data.
Image credit: Nick Bramhall
