LCG Supports Crystal Financial and Balmoral Funds On The Closing of The TMA’s Deal of The Year
The Turnaround Management Association will be honoring the most successful turnarounds and impactful transactions during the TMA Annual in Toronto. Crystal Financial and Balmoral Funds are honored to have been awarded Transaction of the Year Mid-Size Company for the acquisition and financing of Intelligent Global Pooling Systems (iGPS). LCG Advisors provided due diligence oversight for all aspects of the transaction.
Intelligent Global Pooling Systems (iGPS) is the operator and owner of the world’s first and largest global plastic pallet rental pool. It operates from a robust network of depots serving over 100 manufacturers and 2,000 retailers.
Crystal provided both a DIP facility as well as a $20.0 million Exit facility to support the acquisition of the Company by Balmoral Funds and other investors. The acquisition was completed through a complex series of steps including the purchase of pre-petition debt, the offer of a stalking horse bid and ultimately successfully acquiring the Company in a 363 asset sale process.
About Crystal Financial
Crystal Financial LLC, a portfolio company of Solar Capital Ltd., 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. Its team of experienced, responsive professionals has underwritten, closed and managed more than $20 billion in secured debt commitments across a wide range of industries. For more information please visit www.crystalfinco.com.
About Balmoral Funds
Balmoral is a private equity firm focused on investing in corporate carve-outs, restructurings and other special situations. Balmoral’s investment strategy focuses on partnering with talented management teams to invest in and revitalize companies with strong market positions that are going through a period of transition or experiencing operating or financial challenges. Balmoral targets investments in companies that have historically generated $30 million to $300 million of revenues at their peak. Balmoral has maximum structuring flexibility. Balmoral is headquartered in Los Angeles, CA and has a strong track record of investing in challenged companies and returning them to financial stability and profitable growth. For more information please visit www.balmoralfunds.com.
About the Turnaround Management Association
The Turnaround Management Association (TMA) is the leading organization dedicated to turnaround management, corporate restructuring, and distressed investing. Established in 1988, TMA has more than 9,300 members in 49 chapters worldwide, including 31 in North America. Members include turnaround practitioners, attorneys, accountants, advisors, liquidators, executive recruiters, and consultants, as well as academic, government, and judicial employees.