Business
Crown Capital Partners Increases Rokstad Holdings Corporation Term Loan to $50 Million
Crown Capital Partners Increases Rokstad Holdings Corporation Term Loan to $50 Million ...
About this update from Crown Capital Partners, Inc.
[{"type":"text","content":"\n\n\n\n\nCrown Capital Partners Increases Rokstad Holdings Corporation Term Loan to $50 Million\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, Nov. 6, 2019\n\n\n\nCALGARY, Nov. 6, 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 an additional advance of $15 million to Rokstad Holdings Corporation (\"Rokstad\"), increasing the total term loan with Rokstad to $50 million. Headquartered in Coquitlam, British Columbia, Rokstad provides power line construction and maintenance services to blue-chip customers across North America. \n\"Rokstad continues to experience very strong top-line growth, driven by the significant need to improve and repair the power grid across North America,\" said Chris Johnson, Crown's President & CEO. \"Most notably, the company has been successful in winning large new contracts in California, and our expanded facility will provide additional capital to support their rapid growth.\" \nThe facility provides for a total term loan of $55 million to Rokstad, of which Crown Capital Partner Funding, LP (\"Crown Partners Fund\"), an investment fund managed by Crown and in which Crown holds a 37% interest, subscribed for $50 million, and Crown syndicated $5 million to two of the institutional limited partners in the Crown Partners Fund. The term loan matures in 60 months. \nThis investment brings the total loans outstanding in the Crown Partners Fund portfolio to approximately $207 million across 10 companies. \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 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 i...