Boston, March 28, 2019


Crystal Financial LLC announced the closing of a $17.0 million Senior Credit Facility for Process Insights (“PI” or the “Company”) consisting of a $15.0 million term loan and a $2.0 million revolving credit facility. A $20.0 million accordion facility was also provided.  Union Park Capital (“UPC”) created the PI platform with the acquisition of Cosa + Xentaur in the fall of 2017 and has since added Alpha Omega Instruments, LAR Process Analyzers and Tiger Optics, manufactures of gas sensors and analyzers.


The Company’s products are used to measure gas and/or liquid levels for varied manufacturing processes in the chemical, semiconductor, energy and other industrial sectors.


Proceeds from the transaction will be used to refinance existing debt facilities, finance working capital, and provide additional debt capacity for future add-on acquisitions.


“We have worked quickly to execute on the strategy of rolling up businesses in the on-line process analytics industry where highly technical sensors and analyzers are critical tools in many industrial applications.  Crystal has distinguished themselves as a thoughtful and pragmatic resource.  In addition, their ability to quickly understand our goals will be beneficial as we pursue additional acquisitions.” said Monte Hammouri, CEO of Process Insights.


Kenny Smith, Managing Director of Crystal Financial added, “This is the second transaction we have financed for UPC and we are consistently impressed with their well-developed investment thesis and the methodical approach they utilize for integrating acquisitions.  We are excited to be partnering with them again and look forward to a long-term productive relationship.”


Peter McGuire, Partner at Union Park Capital stated “We have enjoyed a very collaborative relationship with Kenny and his colleagues at Crystal.  They delivered a financing that met all of our objectives both current and future.  We appreciate their commitment to our portfolio companies.”


About Crystal Financial LLC


Crystal Financial LLC, a portfolio company of Solar Capital Ltd. is a leading provider of direct private credit focused on originating, underwriting and managing both asset-based and cash flow financings to middle-market companies. Since inception in 2006, its team of experienced, responsive professionals have provided more than $4 billion in secured debt commitments across a wide range of industries. For more information please visit


About Process Insights


The companies of Process Insights manufacture instruments focused on process analytics, control, and safety.  Process Insights premium brands are used across a wide range of applications and end markets to ensure safe operation, increase product quality and to attain higher levels of efficiency in process industries.  Sensors, instrumentation, and software used in these applications are mission-critical to reduce disruptions, downtime, and lost productivity, all while managing increasing regulatory complexity and cost in industrial processes.  For more information, visit


About Union Park Capital


Union Park Capital is a private equity firm solely focused on lower middle-market industrial technology companies.  Union Park takes a long-term perspective to help stakeholders build value over time and drives value creation through profitably growing a business, not financial engineering.  Union Park Capital is based in Boston, MA, and has extensive investments and expertise in the analytical instrumentation sector.  For more information, please visit



Cheryl Carner, Senior Managing Director