DALLAS, March 5, 2025 -- Blue Tide ("Company"), a leading North American producer of re-refined Group II+ base oils and portfolio company of Tailwater Capital LLC, today announced the successful upsizing of its revolving credit facility. Texas Capital led the transaction, with Origin Bank joining as a lending partner to support Blue Tide's expanded financial needs.
Blue Tide initially secured a facility with Texas Capital in April 2024 to support initial operations of its used motor oil ("UMO") processing unit and provide additional flexibility during construction of its hydrotreater. With base oil production now successfully underway in Baytown, Texas, the additional funding will support working capital and further expansion initiatives as Blue Tide shifts into full-scale operations.
"This expanded credit facility reinforces Blue Tide's financial strength and positions us for continued growth across the continent," said Terry McHugh, CEO of Blue Tide. "Texas Capital has been a valued partner, and we're pleased to welcome Origin Bank as we enter our next phase. We're confident that this capital will provide the flexibility needed to enhance operational efficiencies, expand our production capabilities, and position us for long-term industry success."
The transaction underscores Blue Tide's ability to establish strong financial partnerships that align with its long-term vision.
"It was an honor to work alongside Blue Tide's best-in-class management team and to lead this increased credit facility to help facilitate the Company's continued growth," said Casey Lowary, Managing Director at Texas Capital.
The upsized credit facility marks an important milestone for Blue Tide, reinforcing its ability to successfully execute complex projects through completion and establish a significant presence in an increasingly relevant market.
About Blue Tide
Blue Tide is focused on building and developing a network of used motor oil recycling facilities across North America. Headquartered in Houston, Texas, Blue Tide offers sustainable solutions to the lubricants industry. By pairing management's development and operational expertise with advanced hydroprocessing technology, the company recycles used motor oil ("UMO") to produce high-quality paraffinic Group II+ base oils at its Baytown, Texas facility. Blue Tide is a portfolio company of Tailwater Capital LLC, a private equity firm based in Dallas. Please visit https://bluetideenv.com/ for more information.
About Texas Capital
Texas Capital Bancshares, Inc. (NASDAQ®: TCBI), a member of the Russell 2000® Index and the S&P MidCap 400®, is the parent company of Texas Capital Bank ("TCB"). Texas Capital is the collective brand name for TCB and its separate, non-bank affiliates and wholly-owned subsidiaries. Texas Capital is a full-service financial services firm that delivers customized solutions to businesses, entrepreneurs and individual customers. Founded in 1998, the institution is headquartered in Dallas with offices in Austin, Houston, San Antonio and Fort Worth, and has built a network of clients across the country. With the ability to service clients through their entire lifecycles, Texas Capital has established commercial banking, consumer banking, investment banking and wealth management capabilities. All services are subject to applicable laws, regulations, and service terms. Deposit and lending products and services are offered by TCB. For deposit products, member FDIC. For more information, please visit www.texascapital.com.
About Tailwater Capital
Dallas-based Tailwater Capital is an energy and environmental infrastructure private equity firm with a well-established track record of working constructively with proven management teams to deliver value-added solutions. Tailwater has raised more than $4.9 billion in committed capital since inception, and the team has executed more than 180 transactions representing over $26 billion in value. For more information, please visit www.tailwatercapital.com.
Contact
Jill McMillan
Managing Director, Communications & Public Affairs
Phone: 214-489-7047
Email: jmcmillan@tailwatercapital.com
John Schaufele
Managing Director, Investor Relations & Fundraising
Phone: 214-489-7043
Email: jschaufele@tailwatercapital.com
Forward-Looking Statements
Includes non-Tailwater controlled capital pursuant to the Tailwater led management buyout processes for which Tailwater provides management related services.
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