BOSTON--(BUSINESS WIRE)--Crystal Financial LLC, an independent commercial finance company, today announced the closing of a $12.5 million Senior Term Loan for Aquent, a subsidiary of TRI Ventures, Inc. (“TRI”). Headquartered in Boston, Aquent is the market leader in temporary staffing and outsourced project development in the creative and marketing fields.
Proceeds from the facility will be used for general business purposes in support of the company's continuing growth strategy.
Steve Migliero, Senior Managing Director of Originations, said, “We are thrilled to partner with John and his team at Aquent to provide incremental capital to fuel Aquent’s impressive organic growth. Aquent is the demonstrable market leader in their space and we look forward to their continued growth and a long term partnership.”
“Crystal collaborated with our existing ABL agent to close the transaction. In the process, they quickly demonstrated an understanding of our industry and were quite innovative when it came to providing a structure built to address the unique aspects of our business. We look forward to a mutually beneficial partnership,” said John Chuang, Co-Founder and CEO.
About TRI Ventures, Inc.
TRI owns Aquent LLC, a global
staffing firm focused on providing talent, outsourcing services, and
cloud-based solutions to marketing and creative departments at Fortune
1000 companies. TRI also owns “start up” ventures focused on the
development of recruitment software solutions and mobile applications
and has invested in a number of other public and privately held
companies. For more information visit www.aquent.com.
About Crystal Financial LLC
Crystal Financial LLC, a
portfolio company of Solar Capital Ltd. is an independent commercial
finance company 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,
responsive professionals has underwritten, closed and managed more than
$20 billion in secured debt commitments across a wide range of
industries. For more information please visit www.crystalfinco.com.