Recycling Service Gopher Resource in Talks With Private Credit for Financing
- Firm is working with Centerview to advise on refinancing
- S&P downgraded company, citing possible liquidity crunch
Gopher Resource employee pours melted lead from recycled batteries into ingots for reuse at plant.
Photographer: Bruce Bisping/Star Tribune/Getty ImagesThis article is for subscribers only.
Gopher Resource, a provider of recycling services, has reached out to private credit lenders for financing as it struggles with liquidity, according to people with knowledge of the matter.
The firm, which is owned by private equity sponsor Energy Capital Partners, has tapped Centerview Partners to advise on the transaction, said the people, who declined to be identified as the details are private. Centerview is in talks with direct lenders for a more than $500 million debt package that will refinance Gopher’s existing debt, said the people.