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Crystal Financial Agents $57.1MM Term Loan for The Robbins Company

June 18, 2013, 07:39 AM
Filed Under: Manufacturing

Crystal Financial announced the closing of a $57.1 million senior term loan for The Robbins Company. Founded in 1956, The Robbins Company is one of the leading developers and manufacturers of advanced, underground machinery used in tunnel construction projects worldwide.

Proceeds from the new financing replaced the company’s existing indebtedness and provided incremental liquidity to fund their continued growth. The four-year facility will mature in May 2017.

“The company’s long-standing history, the leadership position, and the market reputation their products have clearly demonstrated their unique and defensible market position. Throughout the process, we were very impressed with the company. Lok Home and his team have built Robbins into a global leader for excavating machinery in the tunneling sector. We are very excited to be working in partnership with them and providing financing to support such an outstanding company and management’s business plan," commented Andrew Hettinger, managing director at Crystal Financial.

“The professionals at Crystal Financial did an outstanding job executing this transaction, taking the time to develop an in-depth understanding of our business and the overall industry, as well as our unique requirements," Lok Home, CEO and principal shareholder of Robbins said.

“Crystal Financial invested significant time to understand a unique and complex global business. The Crystal deal team delivered everything they committed to and showed tremendous flexibility in structuring the refinancing. Their execution was seamless and effective,” added Matt Michael, managing director at FTI Consulting, who advised Robbins on their refinancing.

With more than 60 years of innovation and experience, The Robbins Company is the world’s most experienced developer and manufacturer of advanced, underground construction machinery. Robbins has been involved in hundreds of tunnel boring projects around the world and offers an extensive range of underground excavation equipment.

Crystal Financial is an independent commercial finance company that provides senior and junior secured loans for both asset-based and cash flow financings (minimum of $10 million in fundings) to middle-market companies.

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