On-Site Fueling Company Completes ESOP Transaction

A large, on-site fueling company completed a 100% ESOP transaction. Faegre Drinker served as counsel to the company in the transaction. Our ESOP and finance teams assisted with all aspects of the sale and financing transactions, including the complex subordination entered into between the senior lender and the selling shareholder as the holder of the subordinated debt. We also assisted the fueling company in refinancing its outstanding line of credit with a new senior loan from a large regional bank.