CRS REPROCESSING SERVICES RECEIVES FUND INFUSION FROM TRIANGLE CAPITAL CORPORATION
Up to $16 Million Will Fuel Projected Growth
Louisville, KY (December 8, 2009) — CRS Reprocessing Services, LLC (CRS) announced it has received a debt facility of up to $16 million from Triangle Capital Corporation and another financial partner. Triangle Capital is a leading specialty finance company that provides customized financing solutions to lower middle market companies located throughout the United States. The purpose of the commitment is to provide growth capital for CRS.
“These funds will allow us to continue the extraordinary growth trajectory that CRS has experienced during most of this decade,” said Scott T. Massie, chief executive officer of CRS. “We will deploy this capital throughout 2010 in our clean technology business. These business lines and associated markets, including the solar industry, are enabling us to achieve global growth rates in excess of 50%.”
“CRS’s ‘clean tech’ solutions produce large savings for our customers while preserving the environment and providing much needed job growth for local areas. We are able to do this without the introduction of any hazardous or environmentally threatening toxins. This model has seen double-digit growth rates for six straight years, and is now accelerating. The commitment of funds by Triangle is a strong affirmation of their belief in our CRS business model, as well as our industry and markets served. We are very excited about our business and partnering with Triangle Capital.”
CRS’s leadership in the fluid reprocessing market includes proprietary recycling processes. This innovative technology reprocesses industrial fluids such as slurry, coolants and lubricants in diverse industries such as solar and semiconductor wafer manufacturing and flat metal rolling. As part of its Optimized Reprocessing Management (ORM) offering, the company can design, build, install, operate and maintain the reprocessing infrastructure at its customers’ facilities to ensure a consistent, high-quality product. This strategy eliminates risky and expensive transportation, preserves resources and improves regulatory compliance. In addition to installing customized equipment, CRS provides expert operating technicians and engineering support. Options for off-site reprocessing and ancillary services are also offered.
About CRS Reprocessing Services
CRS is a global partner in fluid reprocessing management, offering people, technology and services to efficiently handle industrial fluids for manufacturing facilities. With 30 years of expertise and operations in the U.S., Europe and Asia, the company’s custom-built, on-site reprocessing facilities economically transform used fluids back to customer-specified performance levels, allowing high-yield waste recovery and lower unit costs.
The company’s private-equity partners have a combined portfolio value in excess of $1 billion, giving CRS the capital resources to expand operations across the U.S., Europe and Asia and the opportunity to provide engineered reprocessing solutions worldwide.