PITTSBURGH, April 23, 2018 – PNC Bank, N.A., announced today the closing of $33 million of senior secured credit facilities for Motley Services, LLC (Motley), a portfolio company of Irving, Texas-based District 5 Investments, L.P. Headquartered in Odessa, TX, Motley will use the funds for capital expenditures and ongoing working capital needs. PNC Bank, N.A. served as administrative agent. Treasury management products and services also were included in this transaction.
Founded in 2010 by CEO Marco Davis, Motley is an oilfield service company that provides well completion and intervention services in the Permian Basin region of Texas and New Mexico. Motley offers coiled tubing, wireline, pumping, thru tubing and nitrogen services and maintains a state-of-the-art equipment fleet.
PNC Bank, National Association, is a member of The PNC Financial Services Group, Inc. (NYSE: PNC). PNC is one of the largest diversified financial services institutions in the United States, organized around its customers and communities for strong relationships and local delivery of retail and business banking including a full range of lending products; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management. For information about PNC, visit www.pnc.com.
CONTACT:
Rob Tacey
(302) 429-2743
robert.tacey@pnc.com
