Danish Flats Environmental Services Inc. Completes Debt Recapitalization with Fifth Third Bank

July 7, 2010

W. G. Nielsen & Co., a leading Denver-based investment banking firm, announced that it represented Danish Flats Environmental Services with respect to its debt recapitalization. Terms of the transaction were not disclosed.

Kirk Shiner, a principal of Danish Flats Environmental Services, commented on the deal: "This transaction presented a number of special challenges due to the nature of our business, the handling of production water from oil and gas wells. Nevertheless, Ron Barber and John Lundberg were able to develop a structure that created a win-win situation, navigating interests from numerous stakeholders, providing our company with greater flexibility and potential for future growth."

John Lundberg, who oversaw and directed the transaction from Fifth Third Bank’s Structured Finance Group, was delighted about the new partnership as well. He noted, "Fifth Third Bank has been providing relationship banking through quality financial products and services to its customers for over 150 years. This transaction gave us another opportunity to incorporate both our ABL and Cash Flow lending metrics to a company that performed very well through 2008 and 2009. We are looking forward to another 150 years building further relationships with other well managed clients like Danish Flats."

Ron Barber, Senior Vice President at W.G. Nielsen and Co., offered his perspective about the deal as well. "This transaction will allow Danish Flats to realize its goals and should provide significant value to the company. Danish Flats has a strong track record and has demonstrated a staggering growth rate, and we have been happy to advise them as they have built their business. It is a testament to their solid business model and the talent of their people, and we hope to continue working with them as they reach ever higher levels of success."

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