Calgary-based Crown Capital Partners Inc, a specialty finance company, has increased its loan facilities for two companies. Crown increased its loan facility to Touchstone Exploration from $15 million to $20 million. And, for Triple Five Intercontinental Group Ltd, Crown increased its loan facility by $7 million. Touchstone is a Canadian-based, international upstream oil and gas company currently active in the Republic of Trinidad and Tobago while Triple Five is a diversified conglomerate, development and finance corporation with offices in major U.S., Canadian and global cities.
CALGARY, Nov. 1, 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 $12 million to two portfolio companies:
A $5 million increase in its loan facility to Touchstone Exploration Inc. (“Touchstone”), from $15 million to $20 million. In November 2016, Crown Partners Fund completed a $15 million, five-year term loan with Touchstone.
A $7 million increase in its loan facility to Triple Five Intercontinental Group Ltd. (“Triple Five”), bringing the total outstanding to $27 million. In September 2018, Crown Partners Fund completed a $15 million, three-year term loan with Triple Five, which was subsequently increased to $20 million in March 2019.
“Touchstone and Triple Five are both performing well, and this additional capital will further support their growth plans,” said Chris Johnson, President & CEO of Crown.
These investments bring the total loans outstanding in Crown Partners Fund to approximately $197 million across 10 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.