Overview
Founded in 1996, Frontier Spinning Mills Inc., is the second largest provider of cotton and cotton polyester blend yarns in the U.S. The Company operates 5 manufacturing facilities and its major customers are domestic manufacturers of basic t-shirts, underwear and socks.
Challenge
The Company, an affiliate of Sun Capital Partners, Inc., was seeking an increase in its term loan to provide for (i) seller note repayment and (ii) a dividend.
Solution
Crystal provided a $11 million commitment in the first lien term loan. The term loan has a first lien on all assets, excluding the Company's inventory and A/R which secures the revolving facility.
