Monarch raises capital for expansion
By Keefe Borden30 June 2022
Monarch Resource Partners has recently raised both debt and equity financing to build a 100% electric drive gas compression fleet, the company announced.
The company’s equity offering was oversubscribed and anchored by Table Rock Group and Appareo Capital. Terms of the equity were not announced.
In January, Monarch closed on a senior credit facility with Woodforest National Bank to provide additional growth capital for the company. Monarch provides natural gas contract compression services with zero emission electric VFD drives.
Monarch was founded in February 2021 by President and CEO Brett Schubert, Vice President, Operations Randy Garcia and Vice President, Sales Kolten Kelley.
Monarch was founded in February 2021 by Brett Schubert – President and CEO, Randy Garcia – Vice President of Operations, and Kolten Kelley – Vice President of Sales.
“Our EcoFlex fleet provides customers with increased volumetric flexibility, superior reliability, and an ESG compression alternative that eliminates the greenhouse gas (GHG) emissions of a traditional gas-drive compression package,” said CEO Brett Schubert. “While we are excited about the technology we are offering, internally we remain focused on a vision of providing our team and customers consistent, exceptional service in a work environment that focuses on family, professional growth, and pride in the product and commitment to service we deliver.”