Solar Capital Closes Crystal Financial Acquisition
Crystal Financial announced that it has been acquired as a portfolio company by Solar Capital. Crystal will continue to operate as an independent commercial finance company. Crystal has achieved a long and established presence in the secured debt capital markets.
“Becoming a portfolio company of Solar Capital is an exciting outcome for Crystal,” said Ward Mooney, CEO of Crystal Financial LLC. “We have known their team for many years, and we share their core values. Our new ownership provides us with long-term capital and a broader product offering, which will enhance our ability to meet the financing expectations of our clients. Our affiliation with the Solar Capital platform will create many exciting opportunities to expand our business.”
“The Crystal team has an outstanding reputation as a consistent originator and manager of secured debt capital. Their ability to originate and structure solutions for middle-market companies is well-regarded throughout our industry,” noted Michael Gross, chairman and CEO of Solar Capital. “We are extremely excited about this investment.”
Crystal Financial is an independent commercial finance company that provides senior and junior secured loans for both asset-based and cash flow financings to middle-market companies.
Solar Capital is a closed-end investment company that invests primarily in leveraged, middle-market companies in the form of senior secured loans, mezzanine loans, and equity securities.
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