News & Events
CRYSTAL FINANCIAL AGENTS SENIOR CREDIT FACILITY FOR CDS
Boston, September 24, 2019
Crystal Financial LLC announced the closing of a Senior Credit Facility for Computer Data Source(“CDS” or “the Company”) An accordion facility was also provided. CDS is a leading specialistprovider of enterprise-level data center third-party maintenance, focused on high-end data storage. Withglobal service capabilities and more than 500 contracts, CDS provides sophisticated engineeringcapabilities and client-centric focused solutions. The Company partners with major technology serviceproviders to deliver installation, implementation, support, training and data center administration servicesto end-users across a broad range of industries.
New State Capital Partners (“NSCP”) acquired a majority stake in CDS in August 2019. The financingwas utilized to complete the acquisition and will also provide for future working capital needs as well asfacilitate potential add-on acquisitions.
“CDS represented an excellent opportunity for us to invest in the IT life-cycle management sectorspecifically third-party maintenance,” said John Beauclair, Senior Principal at New State Capital Partners.“The transaction needed to close quickly and required a lender with the ability to navigate thecomplexities of global operations in addition to understanding the technical drivers of CDS’ businessmodel. Crystal is a reliable financing partner and we are pleased to be working with them on thisinvestment.”
Steve Migliero, Co-CEO of Crystal Financial added, “This is the second transaction we have financed forNSCP and we support their investment thesis and approach to creating value with middle marketcompanies. This management team is highly experienced and has a proven track record of deliveringmission critical services and technical support for their customers which include many Fortune 100companies. We are excited to be working with both NSCP and CDS.”
About Crystal Financial LLC
Crystal Financial LLC, a portfolio company of Solar Capital Ltd. is a leading provider of direct privatecredit focused on originating, underwriting and managing both asset-based and cash flow financings tomiddle-market companies. Since inception in 2006, its team of experienced, responsive professionalshave provided more than $4 billion in secured debt commitments across a wide range of industries. Formore information please visit www.crystalfinco.com.
CDS is a market-leading provider of mission-critical data center hardware maintenance and support forhigh-end storage and service equipment. CDS offers post-warranty support services primarily throughOEMs and Channel Partners, servicing a diversified customer base throughout the U.S., U.K., Canada,Germany and Australia. The company’s maintenance and support services are designed to extend theuseful life of its clients’ hardware, further increasing return on investment for these systems. CDSemploys highly skilled, industry-certified engineers and dedicated account managers and partnersglobally. The Company currently services 150+ clients and works with 75+ channel partners that alsooperate as clients with significant IT infrastructure, diverse maintenance needs and cost containmentrequirements. https://www.cds.net/
About New State Capital Partners
New State Capital Partners LLC is an entrepreneurial-minded private equity firm that strives to be morenimble, more decisive and more cooperative than larger, institutional firms. New State prides itself on along-term outlook, approaching each potential investment as an opportunity to create lasting and valuablerelationships, rather than as an exercise in meeting rigid investing criteria. The firm is very flexible aboutthe structure of its investment and focuses on growth and add-on investment. New State seeks to invest inmarket-leading companies with $8 million to $30 million of EBITDA in the areas of business services,healthcare services and industrials. New State can commit more than $50 million of equity capital pertransaction through New State Capital Partners II, LP. New State and its affiliates have invested in 22companies to date. For more information visit www.newstatecp.com.
CRYSTAL FINANCIAL LLC CONTACT
Cheryl Carner, Senior Managing Director