SOURCE: Cratos

August 21, 2007 09:00 ET

Cratos Capital Partners Provides $20 Million in Financing for Business Acquisition

ATLANTA, GA--(Marketwire - August 21, 2007) - Cratos Capital Partners, LLC, an Atlanta-based commercial finance company, announced today that it has provided $20 million in financing to support Riverside Manufacturing, Inc.'s, ("Riverside") acquisition of Transportation Safety Technologies, Inc.

The $20 million senior secured credit facilities consist of a $2.5 million revolving line of credit and a $17.5 million Term Loan A. Proceeds under the facilities were used to finance the acquisition of Transportation Safety Technologies, Inc., refinance existing debt, and finance ongoing capital expenditures and working capital.

Headquartered in Fort Wayne, IN, Riverside is a designer and producer of wiring harnesses, LED lighting, panel assemblies, cables, switches, and electro-mechanical products for military contractors. Riverside's acquisition, Transportation Safety Technologies, founded in 1968 and headquartered in Indianapolis, IN, designs, manufactures, and sells vehicle safety and control products, which include circuit boards, detection devices, indicator switch control panels, power distribution centers, and wire harnesses for ambulances, fire trucks, tow trucks, and other specialty commercial vehicles.

"The integration of Transportation Safety Technologies into Riverside Manufacturing, Inc. greatly improves our collective ability to provide a broad range of electronic products and solutions to our customers," says Fred Merritt, President and owner of Riverside. "The combined companies will share expertise in various electronic disciplines. Our expanded product capabilities will aid customers seeking vendor consolidation without sacrificing quality service. Cratos Capital greatly exceeded our expectations by providing a very competitive financing package specifically structured to meet our short and long term capital needs."

Riverside marks the 55th transaction for Cratos Capital, whose portfolio now totals $823 million in commitments.

About Cratos Capital Partners, LLC:

Cratos Capital was established in May 2006 as a commercial finance company that provides tailored senior and junior debt solutions to middle market companies on a national basis. The company provides cash flow, asset-based and enterprise value loans to mid-sized companies, with commitments ranging from $10 million to $100 million and greater. To date, Cratos Capital has funded 55 transactions representing $823 million in commitments. Cratos Capital is financed by an affiliate of Deutsche Bank and Flat Hat Holdings, LLC and is headquartered in Alpharetta, GA, with satellite offices in Charlotte, NC and Chicago, IL.

Contact Information

  • For more information, please contact:
    Craig Kitchin
    Chief Financial Officer
    Cratos Capital Partners, LLC
    (678) 392-3150
    Email Contact