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Crown Capital Partners Announces Repayment of Loan by Baylin Technologies
Crown Capital Partners Announces Repayment of Loan by Baylin Technologies Canada N...
About this update from Crown Capital Partners, Inc.
[{"type":"text","content":"\n\n\n\nCrown Capital Partners Announces Repayment of Loan by Baylin Technologies\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, April 1, 2019\n\n\n\nCALGARY, April 1, 2019 /CNW/ - Crown Capital Partners Inc. (\"Crown\") (TSX: CRWN), a capital partner to entrepreneurs and growth businesses, today announced the full repayment by Baylin Technologies Inc. (\"Baylin\") (TSX: BYL) of a loan managed by Crown. \nBaylin is a diversified leading global wireless technology management company focused on research, design, development, manufacturing and sales of passive and active radio-frequency products and services. In January 2018, Crown Capital Partner Funding, LP (\"Crown Partners Fund\") and two of its institutional limited partners provided a $33 million, 60-month loan to Baylin, the proceeds of which were used to acquire the radio frequency, terrestrial microwave and antenna equipment divisions of Advantech Wireless Inc. (\"Advantech\"). \n\"The Baylin team has done an outstanding job growing and diversifying its revenue base over the past year, both organically and through two acquisitions,\" said Chris Johnson, President and CEO of Crown. \"This performance positioned them to secure a new senior facility, and we wish the team continued success.\"\nMichael Wolfe, Baylin's Chief Financial Officer, said: \"The Crown Capital team had a clear understanding of Baylin's strategy, completed their credit process in a short period of time and were supportive partners of our company.\"\nBaylin has prepaid this loan in full, including principal, interest and fees. The Baylin loan was held by Crown Partners Fund, an investment fund managed by Crown and in which Crown holds a 37% interest. Crown Partners Fund continues to own 620,456 Baylin common share purchase warrants.\nAbout 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 custom...