CRS REPROCESSING RECEIVES $35 MILLION TERM LOAN FROM CRYSTAL FINANCIAL, LLC AND THL CREDIT INC.
Louisville, KY (August 04, 2011) — CRS Reprocessing Services, LLC (CRS) announced today that it has secured $35M in financing from a syndicate of lenders including THL Credit Inc. and affiliates, Crystal Financial LLC and affiliates, and J.P. Morgan Chase Bank, N.A. This new funding provides CRS with growth capital for continued global expansion.
CRS chief executive officer Scott T. Massie says the infusion of capital is an important component of the company’s continued expansion of operations throughout Asia and Europe, as well as in domestic markets. “The extraordinary growth trajectory CRS has experienced over the past decade is testament to the ever increasing need for the clean technology solutions we provide,” Massie said. “This additional capital gives CRS the ability to respond quickly to the demand for our services that exists in markets as far reaching as China, Korea and the Philippines.”
CRS is the technological leader in reprocessing industrial fluids, primarily for the solar and semiconductor wafer manufacturing and flat metal rolling industries. Based in Louisville, Kentucky, CRS has operations and projects under construction in eight countries around the world.
Committed to lowering environmental impact through every facet of operation, CRS has developed an on-site business model that significantly reduces the risk of material spillage or emissions by limiting the transportation of contaminated materials. From frac water reprocessing procedures that lower environmental impact to proprietary recycling processes for silicon carbide slurry, coolants and lubricants that work without the use of harsh chemicals, CRS continues to seek new and innovative ways to fulfill its role as a global steward, protecting the communities in which it serves.
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 it the capital resources to expand operations across the U.S., Europe and Asia and the opportunity to provide engineered reprocessing solutions worldwide. For more information about CRS, visit www.crs-reprocessing.com
About Crystal Financial
Crystal Financial is a commercial finance company which originates, underwrites and manages secured loans to middle market companies in all industries. Crystal Financial’s seasoned team of debt-structuring experts have made over $20 billion in loans to companies across a wide array of industries. For additional information about Crystal Financial, please visit www.crystalfinco.com.
About THL Credit, Inc.
THL Credit, Inc. (“THL Credit”) is an externally-managed, non-diversified closed-end management investment company that has elected to be treated as a business development company (BDC) under the Investment Company Act of 1940. THL Credit's investment objective is to generate both current income and capital appreciation, primarily through investments in privately negotiated debt and equity securities of middle market companies with annual revenues of between $25 million and $500 million that require capital for growth, acquisitions, recapitalizations and for change of control transactions.
THL Credit is headquartered in Boston, with additional investment teams in Los Angeles and Houston. THL Credit invests primarily in junior capital securities, including subordinated debt and second lien secured debt, which junior capital may include an associated equity component such as warrants, preferred stock or other similar securities. THL Credit may also selectively invest in first lien secured loans. THL Credit's investment activities are managed by THL Credit Advisors LLC, an investment adviser registered under the Investment Advisers Act of 1940. For more information about THL Credit, please visit www.thlcredit.com.