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Crystal Agents $45.0MM Senior Credit Facility for Roadrunner Freight
September 29, 2020
Source: Crystal Financial
Roadrunner Freight is a leading less-than-truckload (“LTL”) transportation provider. The Company services a diverse customer base across many industries including retail, industrial, food & beverage and health care with its differentiated point-to-point LTL model.
The Crystal financing facilitated the final step of a multi-year corporate transformation to simplify Roadrunner’s business operations. The revolver, term loan and delayed draw term loan will be used for working capital and growth.
Overview
Roadrunner Freight is a leading less-than-truckload (“LTL”) transportation provider. The Company services a diverse customer base across many industries including retail, industrial, food & beverage and health care with its differentiated point-to-point LTL model
Situation
The business was in the final stages of a multi-year turnaround effort designed to delever and simplify the Company and its balance sheet. After completing the sale of non-core divisions, a new debt facility was required for working capital needs.
Solution
Crystal provided a $45.0MM Senior Secured Credit Facility comprised of a revolver, term loan and delayed draw term loan.
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