Argo Turboserve Corporation
$12 million FILO Term Loan
Overview
Founded in 1996, Argo Turboserve Corporation is a specialized inventory management and logistics provider for large companies that operate in the Aerospace, Industrial or Nuclear industries. As a World-Class Supply Chain Management Services Company, Argo works with large blue chip customers in a variety of industrial and power generation sectors.
Challenge
The Company’s existing term loan had restrictive financial covenants that did not provide the Company with the flexibility or additional capital to pursue growth from new clients and relationships.
Solution
Crystal Financial, working in partnership with their existing senior lender, provided a $12 million FILO (“first in last out”) term loan within the 1st lien credit facility. The transaction was secured by all of the Company’s assets and stock.