News & Events


Boston, February 6th, 2018
Crystal Financial LLC today announced the completion of a $20.0 million Senior Credit Facility for Stone Road Energy (“SRE”). Headquartered in Bridgeton, ME, SRE is a leading provider of fuel delivery services for both the residential and commercial markets in Maine, Vermont, and New Hampshire.  SRE offers a variety of heating products including oil, kerosene, diesel, and propane.  In addition, they provide equipment maintenance and repair services. 

Proceeds from this facility will be used to refinance existing debt and build upon SRE’s proven track record of acquiring, integrating, and building on solid foundations.  

“A core component of our investment thesis is to consolidate this highly fragmented industry and therefore having a reliable source of capital to facilitate acquisitions is critically important.  Crystal differentiated themselves and stepped up to execute this financing in a very expedited time frame.  We are excited to be working with a group of such high caliber professionals,” said Bill Overbay, Partner, Stone Road Capital Partners.

Kenny Smith, Director of Crystal Financial said, “Since its initial acquisition in 2014, the Stone Road Capital team has made significant progress with their strategy.  We are delighted to be able to facilitate the continued growth of one of the leading heating distribution and servicing platforms in the Northeast.”

About Crystal Financial LLC
Crystal Financial LLC, a portfolio company of Solar Capital Ltd. is an independent commercial finance company that provides senior and junior secured loans for both asset-based and cash flow financings (minimum of 10 million in fundings) to middle-market companies. Its team of experienced, responsive professionals has underwritten, closed and managed more than $20 billion in secured debt commitments across a wide range of industries. For more information please visit

About Stone Road Energy
Stone Road Energy is a full service retail heating oil and propane supplier for residential and commercial customers.  Our portfolio consists of multiple brands in many regions, as we acquire local companies we retain their brand identity and presence in the communities they have served for many generations.

About Stone Road Capital Partners
Stone Road Capital Partners is a private investment firm that specializes in the acquisition of private middle-market businesses and partners with corporate leadership to build companies of extraordinary value. We specialize in the acquisition of and investment in private middle market businesses.   Typically, we only invest in companies where we have deep domain expertise and can add significant value. We strive to be a true partner and sounding board to management and not a hurdle on the track,

Our goal is to work with management teams to take industry leading companies and build them into world class organization; that takes time and patience, resulting in significant value for shareholders and management teams.