Recent News FirstCity Crestone Recapitalizes Cabinet Manufacturer FirstCity Crestone Portfolio Company Acquires Porta-Kamp FirstCity Crestone Acquires Short-Line Railroad |
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| News Release
FirstCity Crestone Invests in Distressed Transaction January 23, 2008 -- FirstCity Crestone ("Crestone") recently completed a debt and equity investment to support the merger of two specialty chemical companies undergoing financial and operational turnarounds. One of the companies recently emerged from bankruptcy and the other one has experienced operating losses for the past several years. Crestone’s investment will provide the capital necessary to consolidate the two operations into one facility. The combined entity is expected to have revenue of almost $50 million. The consolidation will create significant cost savings and economies of scale. This transaction marks Crestone’s fourth investment since its formation just seven months ago. Crestone’s portfolio includes investments in a diverse set of industries (transportation, retail, industrial and real estate) and investment types ranging from 2 nd lien loans to control buyouts. |
