TSL Express Daily News
The Secured Lender
SFNet's 80th Annual Convention Issue
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Top 5 Apps for Organizing
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SFNet's 40 Under 40 Award Winners Panel Recap
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It’s a Marathon, Not a Sprint
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It’s Not Too Late – Five Member Benefits to Cash In On Now
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It’s Time To Break Up With Your Phone
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Lien Management – What You Need to Know
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Potential Impacts of Blockchain on Commercial Lending
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Selecting a Technology Vendor: 3 Questions to Ask
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Why Back-Office Lending Automation Enhances Customer Satisfaction
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The Lost Art of the Loan Purchase
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Audit Prep: Why a Paperless Approach Makes Sense
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“All Assets” is the Key When Drafting UCC-1 Financing Statement Collateral Descriptions
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Paper Loan Files: Does Your Bank Know the True Cost?
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November 14, 2024
Source: Crown Partners
Crown Partners announces it has successfully arranged $30 million of senior financing from a leading US commercial bank for HGS BioScience, LLC (“HGS”), a portfolio company of Paine Schwartz Partners. The firm served as exclusive financial advisor to HGS in connection with this transaction.
Crown was chosen for its specialized expertise in the asset-based financing market, which allowed HGS to access efficient low-cost growth capital by leveraging its asset base. Crown simultaneously arranged a revolving credit facility and equipment & IP term loan to maximize liquidity generated by the transaction.
“The Crown team proved incredibly valuable in advising us on our strategy for approaching the asset-based financing market to best serve HGS’s business plan, balancing flexibility, cost and long term partnership. I appreciate the Crown’s team rigor and attention to detail regarding each step of our capital raising process.”
— John Novak, Head of Investment Development & Capital Markets, Paine Schwartz Partners
HGS is the world’s largest manufacturer of extracted powder and granule humates and is a major manufacturer of liquid humic and fulvic acid products. Its products are used by agribusiness customers to improve soil health and enhance the yield potential of crops. Based in Jacksonville, Florida, HGS has a North American footprint of six manufacturing plants and serves customers in 20+ countries. HGS has an aggressive growth plan over the next 5 years, positioning the Company as the global leader in humic substances.
“Crown congratulates HGS on closing this senior financing as it executes on its growth plan. We appreciate the opportunity to work with the PSP and HGS deal teams in accessing the bank asset-based financing market, to produce a robust solution that supports its growth on a capital efficient basis.” — Mark Seigel and Evan Nadler
About Crown Partners
Crown Partners is a boutique investment bank focused exclusively on middle market asset-based finance. The firm serves private equity sponsors, direct lenders, and public company boards of directors, who entrust Crown to solve complex working capital objectives. The firm consistently delivers superior results for our clients across a wide range of industries, maximizing liquidity and financial flexibility. Crown Partners has offices in New York, Chicago, West Palm Beach, and Manila. For more information, please visit www.crownlp.com.