TMC Corporation (Annett Holdings, Inc.)
$12 million FILO Loan
$4.7 million Real Estate Term Loan
Overview
Large privately held flat bed trucking company. Provides services to building material, steel, pipe and agricultural industries.
Challenge
Company’s former facility with major national lender was maturing.
Solution
Crystal partnered with a senior lender and provided a $12 million FILO tranche in the revolver with a 1st lien collateralized by current assets. Crystal also funded a $4.7 million 1st lien real estate loan backed by the company’s owned real estate.
“Collaborating with a dependable junior debt provider was instrumental to completing this refinancing. The Crystal team is a leader in this space and their partnership approach is critical to building a successful relationship and meeting the needs of borrowers like Annett Holdings, Inc.”
—Michael Sharkey, President of Cole Taylor asset based lending group