Crestline is excited to announce the close of a $74.0 million upsized position in its credit facility to Ironclad Environmental Solutions, Inc. (“Ironclad”) to finance the merger of Ironclad and Mersino Water Solutions (“Mersino”). The combination has resulted in the formation of IRONCLAD Powered by Mersino (the “Company”). a national infrastructure solutions platform serving the water management and specialty liquid containment markets. Both Ironclad and Mersino are portfolio companies of Kinderhook Industries, LLC (“Kinderhook”).
"We are excited to strengthen our partnership with Kinderhook and support the merger of Ironclad and Mersino. This combination will combine two adjacent specialty rental platforms and create a differentiated, national water and liquid solutions platform with enhanced capabilities to better serve its customers." said Jake Friemel, Managing Director at Crestline.
"We valued Crestline’s support and flexibility throughout the process. They took the time to understand our objective and delivered a capital solution that aligned with our operational and strategic priorities," said Sam Keenan, Managing Director at Kinderhook.
About Crestline Management, L.P.
Crestline is a global alternative investment management firm founded in 1997 and based in Fort Worth, Texas, with affiliate offices in London, New York, Tokyo, and Toronto. The firm has approximately $18 billion of credit assets under management (as of September 30, 2025) including its capital solutions, direct lending, and portfolio finance platforms. For more information, visit www.crestlineinvestors.com.
About IRONCLAD Powered by Mersino
IRONCLAD Powered by Mersino is the definitive operational force in infrastructure resiliency, providing integrated water and liquid solutions for the nation's most complex industrial, municipal, and energy projects. With a focus on risk mitigation and engineering excellence, the Company manages the entire liquid lifecycle to ensure the project doesn't stop and the site doesn't fail. For more information, please visit https://ironcladenvironmental.com/ and https://www.mersino.com/.
This financial promotion is issued by Crestline Management, LP and Crestline Europe, LLP (together "Crestline"). Crestline Europe, LLP is authorized and regulated by the Financial Conduct Authority (FCA). The material is not intended to be a formal research report and nothing in this presentation should be interpreted to state or imply that past results are an indication of future performance. Any opinions expressed herein are our current opinions only. There can be no assurance or guarantee that Crestline's investment strategy will achieve its stated goal. All information provided in this presentation is for informational purposes only Crestline accepts no liability for loss arising from the use of this material. In the United Kingdom, this communication is being made only to, or directed only at, persons who are: (i) investment professionals within the meaning of Article 19 of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (“FP Order”); (ii) high net worth companies and certain other entities falling within Article 49 of the FP Order; or (iii) any other persons to whom such communication may lawfully be made. It must not be acted, or relied, upon by any other persons.
