Boston, April 30, 2018
Crystal Financial LLC today announced the closing of a $15.0 million Senior Term Loan for People’sCare Holdings Inc. (“People’s Care”).
People’s Care Holdings Inc. (People’s Care) provides care services for adults with intellectualand development disabilities in the state of California and Nevada. Founded in 1998, theCompany operates over 52 residential homes as well as 14 community centers with dailyprogramming.
Proceeds from the financing will be used to consolidate the company’s existing debt facilities, and tofinance the expansion of the Company’s network of Group Residential Homes and Community DayCenters.
“Our company is committed to providing our clients and their families with choice, community anddignity through our independent living options and employment service programs for adults withdevelopmental disabilities. The needs for this population are often unmet and therefore we have beenfortunate to have experienced significant growth. Identifying a lending partner who understands ourmission and is supportive of our plans was critical.Crystal Financial clearly demonstrated theircommitment and we are confident in their ability to facilitate our growth,” said Michael Kaiser, Founderand CEO of Peoples Care.
Andrew Hettinger, Senior Managing Director of Crystal Financial said, “Michael and his team have builta terrific organization that delivers comprehensive programming and services to support an individual’spath to self-sufficiency. We look forward to a mutually beneficial long term partnership.”
About Crystal Financial LLC
Crystal Financial LLC, a portfolio company of Solar Capital Ltd. is an independent commercial financecompany that provides senior and junior secured loans for both asset-based and cash flow financings(minimum of 10 million in fundings) to middle-market companies. Its team of experienced, responsiveprofessionals has underwritten, closed and managed more than $20 billion in secured debt commitmentsacross a wide range of industries. For more information please visit www.crystalfinco.com.
About Peoples Care Holdings Inc.
Founded in 1998 and headquartered in Chino Hills, California, PCHI is one of the largest providers ofresidential, daycare, and supported living services for people with intellectual and developmentaldisabilities (“I/DD”) in California. The Company provides services to over 1,000 clients and employsapproximately 1,300 people.- PCH currently operates 55 residential facilities with a total of 220 bed capacity, 12 day programs(30-50 person avg., ~750 total)., and also separately provides supported living and personalassistant services to approximately 180 individuals with I/DD.- PCH has an additional 6 residential facilities and 2 day centers completing buildout, licensing andentitlement process.- The Company also provides autism therapy services and behavior management to 170 clients.
CRYSTAL FINANCIAL LLC CONTACT
Cheryl Carner, Senior Managing Director617-428- email@example.com
PEOPLE’S CARE HOLDINGS INC. CONTACT
Michael J. Kaiser13920 City Center Dr., Suite 290Chino Hills, CA 91709Tel: 909-287- 3557