Boston – June 9, 2011 – Crystal Financial announced today that it has closed a $25 million financing for The SCOOTER Store, an affiliated portfolio company of Sun Capital Partners, Inc. Based in New Braunfels, Texas, The SCOOTER Store offers power mobility solutions, including power wheelchairs, scooters, lifts, ramps and accessories to customers in 48 states.
Andrew Hettinger, Managing Director of Crystal Financial, stated: “We are pleased to provide this new financing for The SCOOTER Store. With an innovative management team and a national footprint, The SCOOTER Store is the clear market leader in providing power mobility products.”
Doug Harrison, CEO of The SCOOTER Store, said, “We are looking forward to a long partnership with Crystal. Their knowledge and creativity throughout the process make them an ideal partner as we look to continue our growth.”
Steven Liff, Senior Managing Director at Sun Capital Partners, said, “Crystal successfully structured and delivered a complicated financing solution using a creative approach that was responsive to the Company’s financing needs. We are excited about our investment in The SCOOTER Store and pleased to have Crystal Financial as a lender to the company.”
The SCOOTER Store was advised by McColl Partners, a middle market investment bank based in Charlotte, NC.
About Crystal Financial
Crystal Financial is a commercial finance company which originates, underwrites and manages secured loans to middle market companies in all industries. Crystal Financial’s seasoned team of debt-structuring experts have made over $20 billion in loans to companies across a wide array of industries. For additional information about Crystal Financial, please visit https://www.crystalfinco.com/.
About The SCOOTER Store
Since 1991, The SCOOTER Store has helped provide freedom and independence to more people with limited mobility than any other company in the nation. The company offers power mobility solutions, including power wheelchairs, scooters, lifts, ramps, and accessories, in 48 states. The company also provides Home Care products and services in some locations. Using these solutions provides today’s seniors an alternative to living in nursing homes or other care facilities. The company’s goal is to create an opportunity for every senior or disabled American to live their entire life safely and confidently at home. The SCOOTER Store was recently recognized by FORTUNE magazine in its prestigious 100 Best Places to Work For in America for the second time. The company is accredited by the Accreditation Commission for Health Care. For more information, visit http://www.thescooterstore.com/.
About Sun Capital Partners
Sun Capital partners is a leading private investment firm focused on leveraged buyouts, equity, debt and other investments in market-leading companies that can benefit from its in-house operating professionals and experience. Sun Capital affiliates have invested in more than 265 companies worldwide since its inception in 1995, with combined sales in excess of $40 billion. Sun Capital has offices in Boca Raton, Los Angeles and New York, and affiliates with offices in London, Paris, Frankfurt, Luxembourg, Shanghai and Shenzhen. For additional information about Sun Capital Partners, please visit http://www.suncappart.com/.