Crystal Financial Provides Financing to The Gores Group for Recently Acquired Mexx International

Boston – January 12, 2012 – Crystal Financial, LLC announced today that it has provided financing to The Gores Group, a leading Los Angeles-based private equity firm, to support its recent acquisition of Mexx International, a mid-market apparel retailer in Europe and Canada, from Liz Claiborne.


“This was a complex deal because it involved extensive international operations with all collateral and cash flow domiciled outside of the U.S.,” said Stephen Krawchuk, managing director at Crystal Financial. “It also was affected by the uncertainties of the divestiture of Mexx by Liz Claiborne. These unusual circumstances are typical of many of Crystal’s debt financings.”


“With its complications and unusual collateral, our capabilities were a perfect fit for the client’s needs,” concurred Colin Cross, senior managing director at Crystal Financial. “We are pleased to help The Gores Group take advantage of opportunities to build upon the strong positive attributes of the global Mexx brand.”


Mexx is an international lifestyle brand that designs clothes and accessories for men, women and children. Mexx Canada operates 90 locations and sells its clothing line through both wholesale and retail channels.


About Crystal Financial

Crystal Financial is an independent commercial finance company that provides senior and junior secured revolvers and term loans for both asset-based and cash flow financings ($10 million to $150 million) to middle-market companies. Its team of experienced, responsive professionals have underwritten, closed and managed more than $20 billion in secured debt commitments across a wide range of industries. For more information, please visit


About The Gores Group, LLC


The Gores Group, LLC is a private equity firm focused on acquiring controlling interests in mature and growing businesses which can benefit from the firm’s operating experience and flexible capital base. The firm combines the operational expertise and detailed due diligence capabilities of a strategic buyer with the seasoned M&A team of a traditional financial buyer. The Gores Group, which was founded in 1987 by Alec E. Gores, has become a leading investor having demonstrated over time a reliable track record of creating substantial value in its portfolio companies alongside management. Headquartered in Los Angeles, the Gores Group maintains offices in Boulder, CO, and London. For more information, please visit


Stephen Krawchuk


For Crystal Financal:
Peter Duckler/Pam Flores


For The Gores Group
Frank Stefanik