Boston – December 13, 2010 – Crystal Financial, announced today that it has closed a $12 million first-in, last-out loan (FILO), as part of a new revolving credit facility from Cole Taylor Bank, to Annett Holdings, Inc. (dba TMC Transportation). Crystal also provided a $4.66 million three-year term loan to the company. TMC Transportation is the largest privately-held flatbed trucking firm in the United States.
Andrew Hettinger, Managing Director of Crystal Financial, stated: “As the industry’s premier flatbed carrier, TMC Transportation is known for its integrity, innovation, highly-trained drivers and customer service. We are pleased to support this family-owned business with our innovative, flexible FILO and term loan facilities.”
Commenting on the new loan, Mr. Harold W. Annett, Chairman & CEO stated: “We are pleased to enter into these new credit facilities provided by Crystal Financial and Cole Taylor Bank. The Crystal team, in particular Andrew Hettinger and Evren Ozargun, were very knowledgeable and worked tirelessly to expedite the loan closing in a timely fashion.”
About Crystal Financial
Crystal Financial is a commercial finance company which originates, underwrites and manages secured term loans up to $150 million per transaction. 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 www.crystalfinco.com.
About TMC Transportation
Annett Holdings, Inc., doing business as TMC Transportation, is the largest privately-held flatbed carrier in the US. It offers line-haul, specialized and dedicated transportation services, as well as logistics services, to a variety of industries, including construction & agricultural machinery and various commodities, through step-deck trailers and removable goose neck trailers. Annett Holdings, Inc. was founded in 1972 and is based in Des Moines, Iowa. For additional information about TMC Corporation, please visit www.tmctrans.com