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 Acquires Short-line Railroad September 24, 2007 -- FirstCity Crestone ("Crestone") announced a $6,000,000 acquisition of a short-line railroad located in the northeastern United States. Crestone provided one hundred percent of the capital in the acquisition in partnership with an established management team. Crestone closed the transaction in a very short time frame after another institutional investor was unable to fund the acquisition. "The railroad is fantastic asset and will serve as a platform for additional growth," said Rich Horrigan, Managing Director of Crestone. "Our operating partners have a great pedigree in the industry. We are very excited to work with them to find add-on acquisitions. We will also be looking to place a senior debt facility in the next couple of months." |
