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CROSSMARK Negotiates Amendment to Revolver with BoA, others

January 09, 2017, 07:14 AM

CROSSMARK, a  sales and marketing services company in the consumer industry that provides growth solutions to manufacturers and retailers,  announced that it has entered into an agreement to amend and extend its revolving credit facility.  Under the agreement, the facility's maturity date has been extended from December of 2017 to June of 2019.

"We are pleased to announce the extension of our revolving credit facility, and are appreciative of the ongoing support and partnership of Warburg Pincus, in its capacity as our primary equity investor, and our lending partners," said Steve Schuckenbrock, Chief Executive Officer of CROSSMARK. "While CROSSMARK has not utilized our revolver in some time, we are pleased to have this amended and extended facility available to further substantiate continuous financial flexibility as we execute on our strategic growth objectives."

"We believe this will help to position CROSSMARK for continued growth and success, and we are pleased to continue to support the company and its management team as it pursues its strategic plan," said Jim Neary, Managing Director of Warburg Pincus.

CROSSMARK's lending group is led by Bank of America Merrill Lynch, Barclays, Credit Suisse, and UBS. CROSSMARK is majority owned by Warburg Pincus, a global private equity firm focused on growth investing.

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