LCG Completes Pre-Loan Due Diligence with Crystal Financial, LLC in connection with a $57.1MM Loan with The Robbins Group

0 Comments

cf-header

 

Crystal Financial clears a new path for tunneling innovator:

robbins_logo $57.1 million
Senior Term Loan
Administrative Agent
June 2013

Due Dilligence Services On The Transaction Were Provided By Lender’s Consulting Group:

Mirko Andric, Vice President of Crystal Financial, LLC, states:
“Our firm contacted LCG due to their expertise in specialized pre-loan due diligence. This particular investment opportunity had a number of nuances and we knew that LCG was the right firm based on our prior dealings with them. LCG was able to quickly understand the areas of risk and the nature of the business operations. They were able to create a customized scope appropriate for the business and the industry that served our firm as the sole lender very well. LCG was very thorough in their approach and communicated with us on a daily basis. Any and all findings were well documented and communicated in real time. LCG was able to work through a complex operating structure and worked well with numerous parties during the engagement including the company, their auditors, their advisors, and the prospective lender group. Their report was very thorough and was delivered on time and on budget. We would highly recommend using LCG for their due diligence services and we look forward to working with them again in the future.”

Case Study: The Robbins Company

  • Overview
    With more than 60 years of innovation and experience, The Robbins Company, based in Solon OH, is the world’s most experienced developer and manufacturer of advanced, underground construction machinery. Robbins revolutionized tunnel construction when they designed the first hard rock tunnel boring machine (TBM) in 1956. Since then they have been involved in hundreds of tunnel boring projects around the world and their TBMs have set many world records for tunnel diameters. They offer an extensive range of underground excavation equipment.
  • Challenge
    Like all companies navigating through the recession, the impact of the global slowdown in new infrastructure spending including major tunnels projects had created challenging conditions for Robbins. They were committed to finding a new lending partner who could understand their financial performance and support their continued growth into new markets and additional products such as soft soil TBMs.
  • Solution
    Crystal provided a $57.1MM Senior Term Loan which provided the necessary capital not only to refinance their current debt but also provided for incremental liquidity to support the Company as it experiences a rebound in infrastructure spending as well as their general growth plans.