Business
Crown Capital Partners Completes $25 Million Term Loan with Rokstad Holdings Corporation
Crown Capital Partners Completes $25 Million Term Loan with Rokstad Holdings Corporation ...
About this update from Crown Capital Partners, Inc.
[{"type":"text","content":"\n\n\n\nCrown Capital Partners Completes $25 Million Term Loan with Rokstad Holdings Corporation\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 29, 2019\n\n\n\nCALGARY, April 29, 2019 /CNW/ - Crown Capital Partners Inc. (\"Crown\" or the \"Corporation\") (TSX: CRWN), a capital partner to entrepreneurs and growth businesses, today announced the closing of a $25 million term loan (the \"Agreement\") to Rokstad Holdings Corporation (\"Rokstad\"), a privately held company headquartered in Coquitlam, British Columbia, that provides power line construction and maintenance services to customers across North America. \nFounded in 2008, Rokstad offers a full suite of power line services, including emergency and storm response, transmission and distribution line construction and maintenance and underground cable services. Rokstad is also a specialist in live line construction methods for distribution and transmission line projects. With operations throughout Canada and the United States, Rokstad has successfully grown from a mid-size contractor to one of the largest power line contractors in North America. The company's largest markets are British Columbia, California and Arizona. \n\"Rokstad is a well-established business with a diversified base of large, long-standing utility customers,\" said Chris Johnson, Crown's President & CEO. \"The company has experienced very strong growth over the past several years as spending has increased significantly in its sector, driven by the aging transmission and distribution infrastructure, new technology and regulatory drivers. We are pleased to support the Rokstad team as they continue to capitalize on these trends and expand their business.\" \n\"Since the re-acquisition of the business from our former partners, we have experienced a growing pipeline of new projects and opportunities, and this new funding from Crown Capital provides additional financial strength and flexibility to support this growth,\" said Aaron Rokstad, CEO.\nThe Agreement provides for a term loan of up to $25.0 million t...