FirstCity Crestone Recapitalizes Cabinet Manufacturer
February 25, 2010 -- FirstCity Crestone recently recapitalized a large cabinet manufacturer with a $4,600,000 commitment. Crestone’s investment included a term loan, a revolver, and equity participation. Proceeds allowed for a complete pay-off of the senior lender and working capital to support a seasonal production increase.
The Texas based company is the country’s leading provider of cabinets to multi-family developers. It operates out of a 280,000 square foot facility with state of the art equipment. Despite the economic downturn, it continues to enjoy a robust backlog and market share.
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