Acquired by Solar Capital in 2012, Crystal Financial LLC (“Crystal”) specializes in making secured loans to companies who typically cannot access traditional ABL and cash flow capital providers
The core team has been together since 1993 and has originated, underwritten and managed in excess of $20bn of new secured debt for its clients
Headquartered in Boston, Crystal operates a satellite BDO office in Atlanta, GA. The company employs ~20 individuals.
U.S. middle market companies across a diverse set of industries
Typically, companies are facing some form of stress or lack of available capital from traditional banks due to recent regulation
Senior secured, collateral-based underwriting
Lend at a discount to liquidation value of collateral
Floating rate
Meaningful upfront fees and prepayment penalties
Meaningful maintenance covenants