Case Summary: Numerex
$17 million Senior Secured Term Loan
Numerex, Corp. (NASDAQ:NMRX) is a leading provider of managed enterprise solutions enabling the Internet of Things (IoT). Its platform provides a combination of device, network, application and platform services that allow their customers to maximize the operations of their business using machine to machine (M2M) technology. The Company is active in 10 vertical industries with a focus on the oil and gas, supply chain, transportation, public safety healthcare, and waste management markets.
The Company’s new CEO sought to drive improved financial performance with additional investment in sales and marketing. With a mismatch between cash expenditures versus timing of increased profitability, Numerex wanted a more flexible debt facility.
Crystal’s $17MM senior secured term loan refinanced the Company’s existing debt and allowed the Company to implement their key strategic initiatives.
“We needed a financing partner that would truly understand our strong market potential and provide a flexible structure that would facilitate our key business objectives. Crystal Financials Steve Migliero and team distinguished themselves very quickly and executed a transaction that met all of our needs. We look forward to a mutually beneficial relationship.”
—-Marc Zionts, Chief Executive Officer