Northbase secures $300M to scale equipment-financing infrastructure

Northbase Finance has secured a revolving credit facility of up to $300 million from Oaktree, giving the company a larger balance sheet from which to finance operating equipment.

What happened

Northbase provides financing for equipment used across power generation, energy infrastructure, industrial services and related sectors. The revolving structure allows the company to draw, repay and reuse capital rather than arranging a separate financing package for every transaction.

The announcement did not disclose pricing, covenants, the amount initially drawn or the credit performance of the existing portfolio. This is debt capacity, not an equity funding round.

Why it matters

Physical-infrastructure businesses often need expensive equipment before revenue begins. Traditional lenders may be reluctant to finance specialised assets or younger operators, creating an opportunity for lenders with sector expertise.

A large warehouse facility allows Northbase to fund more transactions while matching its own capital needs more closely with customer demand.

The bigger picture

Technology and infrastructure companies increasingly rely on specialised financing rather than venture equity alone. Equipment finance can support growth without forcing operators to sell ownership, but it also introduces leverage and repayment risk. Northbase’s facility shows how private-credit firms are becoming part of the capital stack behind energy and industrial expansion, especially where projects need substantial assets but do not fit conventional bank underwriting.