We deliver creative solutions to complex challenges through our disciplined and focused approach. Our team has proven ability to execute in time sensitive situations providing our clients the value-added solutions they require.
Representative Transactions
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The New York Times Regional Media Group
$37,100,000 million senior secured term loan
The New York Times Regional Media Group (NYT-RMG) operated as a division of the New York Times Company (NYSE: NYT) and consisted of 14 daily regional newspapers and other publications. NYT-RMG focused on mid-size communities, predominantly in the southeastern U.S., in such markets as Tuscaloosa, AL, Sarasota, FL, Wilmington, NC and Spartanburg, SC.
Mexx
Canadian dollar denominated term loan
Great Lakes Aviation, Ltd.
$34 million senior credit facility
Great Lakes Aviation is a regional airline carrier and codeshare partner with United and Frontier Airlines. Founded in 1979, it operates 37 passenger planes (19 & 30 seats) and services 42 airports for smaller cities in the High Plaines & Rocky Mountain regions through its hubs in Denver, Albuquerque, Phoenix. Las Vegas and Los Angeles. The Company is a significant recipient of government subsidies from the Essential Air Service Program (EAS). This program ensures that rural airports are serviced by airline carriers and requires Congressional approval each year as part of the budgeting process.
Frontier Spinning Mills
$11 million first lien term loan
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.
Endurance
$25 million commitment
Endurance provides shared web-hosting and other online services to (i) small and medium businesses and (ii) the small office/home office markets. Its suite of services includes website creation, hosting, domain registration, email marketing tools and back end tracking applications. Crystal closed on a $25 million commitment in October 2011, through volatile equity and debt capital market conditions.
CRS Reprocessing, LLC
$30 million term loan
CRS Reprocessing, LLC based in Louisville, KY is the technological leader in reprocessing industrial fluids through its on-site reprocessing facilities primarily to the solar and flat metal rolling industries. Crystal co-led a $30 million term loan to support growth CAPEX financing.
Bell and Howell, LLC
$20 million term loan
Bell and Howell, LLC based in Wheeling, IL is a provider of solutions and services for paper-based and digital messaging solutions. Crystal co-agented a $55 million credit facility to support the growth and working capital needs of the organization.
Petrowest
$47.9 million term loan
Petrowest, based in Calgary, Alberta, is a leading provider of pre-drilling and post-completion energy and civil infrastructure services to the northern region of the western Canadian sedimentary basin. Crystal agented a $47,900,000 term loan to support the refinancing of an existing credit facility.
The SCOOTER Store
$25 million 2nd lien facility
The SCOOTER Store offers power mobility solutions, including power wheelchairs, scooters, lifts, ramps and accessories to customers in 48 states. Crystal provided a $25MM financing to refinance an existing credit facility and for recapitalization.
Wheels Financial Group Inc.
$45 million revolver
Wheels Financial Group, Inc., dba 1-800-LoanMart is a leading provider of consumer finance loans headquartered in Encino, CA. Crystal provided a $45MM revolving loan to refinance an existing $30MM revolver and provide additional loan capacity for growth.
Piggly Wiggly Holdings LLC
$8.9 million
Piggly Wiggly Holdings LLCis a regional supermarket chain based in Charleston, South Carolina. Crystal provided a term loan to refinance term debt, as well as provide some incremental liquidity under the revolver for on-going working capital purposes.
Covenant Care
$20 million second lien loan
Covenant Care offers Skilled Nursing and Rehabilitation Centers and Residential Care/Assisted Living Centers that offer short term care as well as a variety of related specialty services and programs. Crystal provided a $20 million second lien loan to support the refinancing of an existing credit facility and a dividend recapitalization.
Ritz Camera & Image, L.L.C.
$25 million senior credit facility
Ritz Camera & Image, L.L.C. owns and operates the Ritz Camera, Wolf Camera and Camera World Brands. The Company has 289 retail locations nationwide as well as a significant online presence in the camera and imaging industry. Crystal provided a $25 million senior credit facility for general working capital purposes.
ShopNBC
$25 million 1st lien term loan
ShopNBC, an interactive multi-media retailer across TV, online, mobile and social platforms, is broadcast live via cable and satelite TV in 76 million homes nationwide. Crystal agented a $25 million senior secured term loan for general working capital purposes.
TMC Corporation (Annett Holdings, Inc.)
$12 million FILO loan
$4.7 million real estate term loan
TMC Corporation (Annett Holdings, Inc.) is one of the largest privately held flatbed trucking companies in the U.S. Crystal provided a $12 million first-in-last-out loan as part of the company's new revolving credit facility and a $4.66 million real estate term loan.
LANDesk Software
$15 million
LANDesk Software is a global leader in systems lifecycle management, endpoint security and IT service management. Crystal provided a second lien term to support the September 2010 acquisition of LANDesk by Thoma Bravo.
Clover Technologies
$15.7 million 2nd lien term loan
Clover Technologies is the world’s largest collector and recycler of cell phones, inkjets and laser cartridges. In June 2010, we supported the acquisition of the company with a second lien term loan.
Loehmann’s
$35 million pre-petition revolver
$45 million DIP facility
Loehmann’s is an off-price specialty retailer. In September 2010, Crystal provided a $35 million revolving facility to refinance existing debt and for general working capital purposes. In November 2010, Crystal agented a $40 million revolving debtor-in-possession loan for the company. On March 1, 2011, Loehmann’s successfully exited Chapter 11 and is now positioned for growth.
MegaPath
$161 million 1st lien term loan
MegaPath is a leading national provider of communication services including T1, DSL, Business Ethernet, DS3, voice over IP (VOIP) and wireless services. Our first lien term loan to MegaPath facilitated the acquisition of the company, was increased in August 2010 to support an add-on acquisition and increased in October 2010 to fund a dividend recap.
TouchTunes Music Corporation
$11.1 million
TouchTunes Music Corporation is the world's largest downloading pay-per-play jukebox network. In June 2010, we supported the refinance of the company with a unitranche term loan.
Ultra Stores Inc.
$7.5 million
Ultra Stores, Inc. is a leading retailer of fine jewelry, operating 150 stores in 33 states, Puerto Rico and U.S.V.I. Our second lien loan to Ultra was utilized by the company to provide working capital and fund a dividend recap.