Mutuo Financiera, a fleet vehicle leasing company focused on clean transportation in Mexico, has closed on a senior secured credit facility provided by Crayhill Capital Management, a New York-based private credit manager and asset-based lender.
The credit facility, which has a capacity of up to $100 million, will be used for the acquisition of new compressed natural gas (CNG) vehicles to be leased to commercial and passenger transportation fleets across Mexico.
“Mutuo’s edge in the Mexican market comes from its ability to construct use-based payment leases that fit the operating profiles of fleet operators and its digitally enabled customer service platform,” states Antonio Diego González-Karg, CEO of Mutuo. “We are excited about this new partnership with Crayhill, which will allow us to continue achieving our goals of delivering and scaling a better automated fleet management solution and customized leasing products for the benefit of our customers.”
Demetris Papademetriou, board member of Mutuo and partner at MiddlemarchPartners, a New York-based merchant banking firm that helps develop Mutuo’s growth and capital strategy, adds, “As investors and advisors to energy-related shared savings products, we recognized a unique opportunity to finance the growth of a dynamic sector for Mutuo.”