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Crystal Financial Provides Acquisition Financing to Stone Road Energy

February 07, 2018, 07:07 AM
Filed Under: Transportation

Crystal Financial LLC announced the completion of a $20.0 million Senior Credit Facility for Stone Road Energy (SRE). Headquartered in Bridgeton, ME, SRE is a leading provider of fuel delivery services for both the residential and commercial markets in Maine, Vermont, and New Hampshire.  SRE offers a variety of heating products including oil, kerosene, diesel, and propane.  In addition, they provide equipment maintenance and repair services.
Proceeds from this facility will be used to refinance existing debt and build upon SRE’s proven track record of acquiring, integrating, and building on solid foundations. 

“A core component of our investment thesis is to consolidate this highly fragmented industry and therefore having a reliable source of capital to facilitate acquisitions is critically important.  Crystal differentiated themselves and stepped up to execute this financing in a very expedited time frame.  We are excited to be working with a group of such high caliber professionals,” said Bill Overbay, Partner, Stone Road Capital Partners.

Kenny Smith, Director of Crystal Financial said, “Since its initial acquisition in 2014, the Stone Road Capital team has made significant progress with their strategy.  We are delighted to be able to facilitate the continued growth of one of the leading heating distribution and servicing platforms in the Northeast.”

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