Canadian specialty finance firm Crown Capital Partners has provided $17 million of additional debt financing to two portfolio companies.
Crown supplied a $10 million bridge facility to Rokstad Holdings Corp, a Coquitlam, British Columbia-based provider of power line construction and maintenance services. The facility adds to a $25 million loan completed in April.
Crown also increased a loan facility by $7 million for DATA Communications Management Corp (DCM), a Brampton, Ontario-based business communication solutions provider. DCM originally secured a $12 million loan last year.
Crown Capital Partners Announces Follow-on Investments in Two Portfolio Companies
CALGARY, Aug. 19, 2019 /CNW/ – Crown Capital Partners Inc. (“Crown” or the “Corporation”) (TSX: CRWN), a capital partner to entrepreneurs and growth businesses, today announced that Crown Capital Partner Funding, LP (“Crown Partners Fund”), an investment fund managed by Crown, and in which Crown holds a 37% interest, has advanced an additional $17 million to two portfolio companies:
A $10 million, six-month bridge facility to Rokstad Holdings Corporation (Rokstad”), bringing the total outstanding to $35 million. In April 2019, Crown Partners Fund completed a $25 million, five-year term loan with Rokstad.
A $7 million increase in the loan facility to DATA Communications Management Corp. (“DCM”), bringing the total outstanding to $19 million. In May 2018, Crown Partners Fund completed a $12 million, five-year term loan with DCM.
“We are pleased to increase the investment in two high-quality companies in our special situations portfolio,” said Chris Johnson, President & CEO of Crown. “We were able to respond in a timely fashion to meet each company’s evolving capital requirements.”
These investments bring the total loans outstanding in the Crown Partners Fund portfolio to approximately $187 million across 11 companies.
About Crown Capital Partners (TSX:CRWN)
Founded in 2000, Crown is a leading specialty finance company that provides growth capital to a diversified group of successful mid-market companies that are seeking alternatives to banks and private equity funds. Crown provides customized solutions in the form of loans, royalties, and other structures with minimal or no ownership dilution. In addition to deploying capital as a principal investor, Crown develops, manages and co-invests in alternative investment funds, including Crown Partners Fund and Crown Capital Power Fund.
For further information: Craig Armitage, Investor Relations, email@example.com, (416) 347-8954