Crystal Financial Agents Facility for The Robbins Company
Crystal Financial announced the closing of a $57.1 million senior term loan for The Robbins Company, a developer and manufacturer of underground construction equipment. 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.
“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.