Recent News FirstCity Crestone Acquires $45,000,000 Senior Loan FirstCity Crestone Portfolio Company Acquires Porta-Kamp FirstCity Crestone Acquires Short-Line Railroad |
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| News Release
FirstCity Crestone Purchases Distressed Manufacturer October 23, 2008 -- October 23, 2008- FirstCity Crestone ("Crestone"), in partnership with management, recently purchased the assets of a distressed manufacturer of modular buildings, mobile homes, and recreational vehicles. Several years of losses from the now discontinued RV business resulted in an overleveraged balance sheet. Crestone, in partnership with the company’s CEO, purchased the assets from a regional bank shortly after a foreclosure sale. The company employs over 150 people and maintains a strong backlog of business in its core modular building division.
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