Case Study: Commander Oilfield Services
Situation
Commander entered into PO’s to purchase eight new and refurbished equipment packages (one pump, engine, one trailer, and ancillary equipment), and needed start-up equipment financing. Total purchase price for all of the equipment was $10.7MM, of which Tiger provided $5MM of financing, with the remaining cost financed with equity from Norse Partners.
Tiger’s Role
Working closely with the Tiger C&I group and our energy partners at LSI, we were able to understand the value of the equipment and the servicing contracts. The loan was structured to allow for additional draws tied to projected profit / revenues and secured contracts.

Tiger’s comfort with the equity sponsor – as well as the contract cash-flows – was critical to credit underwriting.