Case Summary: Alfred Music Publishing Co.

Alfred Music Publishing Co.

$20 million Senior Term Loan


Founded in 1922, Alfred Music Publishing Co., Inc. is the world’s largest publisher of educational music products, and the second largest print music publishing company in the world. Alfred Music produces educational, reference music, pop, and performance materials for teachers, students, professionals, and hobbyist musicians across all types of instruments, music styles, and difficulty levels. Alfred Music publishes over 184,000 print and digital products sold at over 10,000 retailers worldwide.


Alfred Music was seeking to refinance their existing bank debt and also increase available capital in order to pursue their growth initiative.


Crystal Financial and Crystal SBIC provided a $20.0 million fully funded term loan secured by the Company’s intellectual property consisting of their music catalog and print inventory as well as a second lien position in their accounts receivable and real estate.

“We are pleased to be working with Crystal as our financing partner and we are impressed with their ability to understand our business, its needs, and opportunities. Crystal was both creative and responsive and delivered on the structure they proposed.” —-Ron Manus, Chief Executive Officer