Business
Crown Capital Partners Announces $7.0 Million Term Loan with Active Exhaust
Crown Capital Partners Announces $7.0 Million Term Loan with Active Exhaust Canada...
About this update from Crown Capital Partners, Inc.
[{"type":"text","content":"\n\n\n\nCrown Capital Partners Announces $7.0 Million Term Loan with Active Exhaust\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nCALGARY, Dec. 21, 2017\n\n\n\nCALGARY, Dec. 21, 2017 /CNW/ - Crown Capital Partners Inc. (\"Crown\" or \"the Corporation\") (TSX: CRWN), which provides growth capital to successful mid-market companies, today announced the closing of a $7.0 million term loan (the \"Agreement\") with Active Exhaust Corp. (\"Active\"). \n\nActive manufactures complete exhaust systems and components for major global original equipment manufacturers (\"OEMs\") operating in the off-road equipment sector, primarily in the agricultural, construction and turf care markets. Active is headquartered in Toronto and has manufacturing operations in Toronto, as well as China and India through majority-owned joint ventures. Active has a diverse group of blue-chip OEM customers, including four of the largest equipment manufacturers in the world. Crown's term loan will be used to support a management buyout of the minority shareholders.  \n\n\"Active has a 50-year track record in the off-road equipment sector and strong fundamentals, including long-term production agreements with leading OEMs and a highly experienced and tenured management team,\" said Chris Johnson, Crown's President & CEO. \"The company has experienced rapid growth in recent years and is well positioned to benefit from continued growth with their major customers, as well as increasing environmental regulations in the off-road vehicle industry. Active has invested heavily in R&D and is considered a leader in catalyzed and integrated solutions to OEMs in meeting higher emission standards.\" \n\n\"Crown's tailored solution was the optimal alternative to enable this transaction,\" said Peter Hampton, President & CEO of Active Exhaust. \"We were also attracted to their team's experience supporting growth businesses like ours.\" \n\nThe Agreement provides for a $7.0 million, 66-month term loan to Active by Crown Capital Fund IV, LP, an investment fund managed by Crown and in wh...