Monthly Archives: July 2017

Notice of Crown Capital Q2 2017 Results Conference Call

CALGARY, July 24, 2017 – Crown Capital Partners Inc. (“Crown” or “the Company”) (TSX: CRWN), which provides growth capital to successful mid-market companies, today announced it will host a conference call to discuss its 2017 second quarter financial results on August 9, 2017 at 8:30 a.m. EST. The call will be hosted by Chris Johnson, President and Chief Executive Officer, and Michael Overvelde, Chief Financial Officer. Crown will issue its financial results on the morning of August 9, 2017.

CONFERENCE CALL DETAILS

DATE:                                     Wednesday, August 9, 2017

TIME:                                      8:30 a.m. EST

DIAL IN NUMBER:                 (647) 427-7450 or (888) 231-8191

CONFERENCE ID:                  59205747

REPLAY:                                 (416) 849-0833 or (855) 859-2056

Available until midnight (EST) August 16, 2017

WEBCAST:                             The audio webcast can be accessed at www.crowncapital.ca under Investor Relations or at http://bit.ly/2ueMEpT

ABOUT CROWN

Crown (TSX: CRWN) is a specialty finance company focused on providing capital to successful Canadian and select U.S. companies that are unwilling or unable to obtain suitable financing from traditional capital providers such as banks and private equity funds. Crown also manages capital pools, including some in which Crown has a direct ownership interest. Crown originates, structures and provides tailored special situation and long-term financing solutions to a diversified group of private and public mid-market companies in the form of loans, royalties and other structures with minimal or no ownership dilution.

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Notice of Crown Capital Q2 2017 Results Conference Call2021-01-18T20:23:35+00:00

Crown Capital Partners Announces $50 Million Upsizing of Crown Capital Fund IV, LP

CALGARY, July 14, 2017 – Crown Capital Partners Inc. (“Crown” or “the Corporation”) (TSX: CRWN), which provides growth capital to successful mid-market companies, today announced it has completed a $50 million closing for Crown Capital Fund IV, LP. (“Crown IV LP” or the “Fund”), bringing the current total capital committed to the Fund to $225 million. To date, $190 million has been invested by the Fund in nine transactions, and, net of repayments, $167 million is currently invested.

“This upsizing further underscores the quality of our growing portfolio and the strong demand from our institutional limited partners,” said Chris Johnson, Crown’s President & CEO. “We continue to deliver on our key milestones. We have completed four transactions to date in 2017, adding $80 million of new investments in Crown IV LP. In addition, we continue to increase Crown’s funding capacity, which we will use to capitalize on the demand for customized financing solutions in Canada’s middle market.”

Crown IV LP invests in Special Situations Financing transactions originated and managed by Crown. These consist of senior and subordinated loans with terms ranging from six months to five years, and are structured to limit ownership dilution and provide the borrower client with the ability to focus on growing their business. Crown IV LP has a maximum size of $300 million, with additional closings expected up until September 2018 as financing opportunities are identified. Crown, through its wholly-owned subsidiary Crown Capital Funding Corporation, increased its capital commitment to the Fund by approximately $21.0 million to $82.2 million.  After this closing, Crown holds an approximate 36.5% interest in the Fund.

ABOUT CROWN

Crown (TSX: CRWN) is a specialty finance company focused on providing capital to successful Canadian and select U.S. companies that are unwilling or unable to obtain suitable financing from traditional capital providers such as banks and private equity funds. Crown also manages capital pools, including some in which Crown has a direct ownership interest. Crown originates, structures and provides tailored special situation and long-term financing solutions to a diversified group of private and public mid-market companies in the form of loans, royalties and other structures with minimal or no ownership dilution.

FORWARD-LOOKING STATEMENTS

This news release contains certain “forward-looking statements” and certain “forward-looking information” as defined under applicable Canadian and U.S. securities laws. Forward-looking statements can generally be identified by the use of forward-looking terminology such as “may”, “will”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “continue”, “plans” or similar terminology. Forward-looking statements in this news release include, but are not limited to, statements, management’s beliefs, expectations or intentions regarding the future growth of the portfolio and market demand for Crown’s solutions. Forward-looking statements are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking statements are subject to various risks and uncertainties concerning the specific factors identified in the Crown’s periodic filings with Canadian securities regulators. See Crown’s most recent Annual Information Form for a detailed discussion of the risk factors affecting Crown. Crown undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management’s best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.

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Crown Capital Partners Announces $50 Million Upsizing of Crown Capital Fund IV, LP2021-01-18T20:23:36+00:00

Crown Capital Partners Announces Completion of NCOF II

Fund generated a gross IRR of 24%

CALGARY, July 10, 2017 – Crown Capital Partners Inc. (“Crown” or the “Corporation”) (TSX: CRWN), which provides growth capital to successful mid-market companies, today announced that Norrep Credit Opportunities Fund II, LP and Norrep Credit Opportunities Fund II (Parallel), LP (collectively, “NCOF II”) have been closed following the recent repayment of the special situations loan to CRH Medical Corporation, which represented the final remaining investment in NCOF II.  Crown was the manager of NCOF II and held a 53.6% interest in aggregate.

NCOF II was established in 2012, closed its first loan in December 2012 and invested approximately $81.5 million in five companies: Genalta Power Inc., Claude Resources Inc., Questrade Inc., CRH Medical Corporation, and Corrosion Service Company. NCOF II generated a gross IRR of approximately 24% and a multiple of approximately 1.5X(1).

“The loans in this portfolio performed well for our investors, adding to Crown’s outstanding 17-year track record in mid-market lending,” said Chris Johnson, President and CEO of Crown. “There is a significant unmet need for customized financing solutions aimed at the mid-market, and we are building on our track record to expand Crown’s presence and asset base, both directly and through our fund management business.”

The completion of NCOF II has triggered payment of $4.3 million of performance fees to Crown, as manager of NCOF II. Prior to the closing of its initial public offering (“IPO”), Crown committed to pay 100% of the performance fee distributions accrued to June 30, 2015 to the Pre-IPO plan participants.  In addition, Crown’s current compensation policy provides that 50% of such performance fee distributions earned will be distributed to the employees.  As such, Crown has retained approximately $1.0 million of the performance fees.

Crown’s current special situations fund, Crown Capital Fund IV, LP, has deployed approximately $170 million of the targeted $300 million.

ABOUT CROWN

Crown (TSX: CRWN) is a specialty finance company focused on providing capital to successful Canadian and select U.S. companies that are unwilling or unable to obtain suitable financing from traditional capital providers such as banks and private equity funds. Crown also manages capital pools, including some in which Crown has a direct ownership interest. Crown originates, structures and provides tailored special situation and long-term financing solutions to a diversified group of private and public mid-market companies in the form of loans, royalties and other structures with minimal or no ownership dilution.

FORWARD-LOOKING STATEMENTS

This news release contains certain “forward looking statements” and certain “forward looking information” as defined under applicable Canadian and U.S. securities laws. Forward-looking statements can generally be identified by the use of forward-looking terminology such as “may”, “will”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “continue”, “plans” or similar terminology. Forward-looking statements are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking statements are subject to various risks and uncertainties concerning the specific factors identified in the Crown’s periodic filings with Canadian securities regulators. See Crown’s most recent annual information form for a detailed discussion of the risk factors affecting Crown. In addition, Crown’s dividend policy will be reviewed from time to time in the context of the Corporation’s earnings, financial requirements for its operations, and other relevant factors and the declaration of a dividend will always be at the discretion of the board of directors of the Corporation. Crown undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management’s best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.

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Crown Capital Partners Announces Completion of NCOF II2021-01-18T20:23:38+00:00

Crown Capital Partners Announces Sale of Shares in Distinct Infrastructure

CALGARY, July 6, 2017 – Crown Capital Partners Inc. (“Crown” or the “Corporation”) (TSX: CRWN), which provides growth capital to successful mid-market companies, today announced the disposition of all the common shares of Distinct Infrastructure Group Inc. (“Distinct”) (TSXV: DUG) held by Crown Capital Fund IV, LP, an investment fund managed by Crown and in which Crown holds a 35% interest. The share disposition resulted in net proceeds of approximately $1.4 million. The realized Gross IRR on the Distinct investment was 19.8%.

Crown arranged a $20.0 million, five-year term loan to Distinct in November 2015 to support the company’s growth. On May 26, 2017, Distinct prepaid this loan in full, including principal, interest and fees.

ABOUT CROWN

Crown (TSX: CRWN) is a specialty finance company focused on providing capital to successful Canadian and select U.S. companies that are unwilling or unable to obtain suitable financing from traditional capital providers such as banks and private equity funds. Crown also manages capital pools, including some in which Crown has a direct ownership interest. Crown originates, structures and provides tailored special situation and long-term financing solutions to a diversified group of private and public mid-market companies in the form of loans, royalties and other structures with minimal or no ownership dilution.

FORWARD-LOOKING STATEMENTS

This news release contains certain “forward looking statements” and certain “forward looking information” as defined under applicable Canadian and U.S. securities laws. Forward-looking statements can generally be identified by the use of forward-looking terminology such as “may”, “will”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “continue”, “plans” or similar terminology. Forward-looking statements are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking statements are subject to various risks and uncertainties concerning the specific factors identified in the Crown’s periodic filings with Canadian securities regulators. See Crown’s most recent annual information form for a detailed discussion of the risk factors affecting Crown. In addition, Crown’s dividend policy will be reviewed from time to time in the context of the Corporation’s earnings, financial requirements for its operations, and other relevant factors and the declaration of a dividend will always be at the discretion of the board of directors of the Corporation. Crown undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management’s best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.

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Crown Capital Partners Announces Sale of Shares in Distinct Infrastructure2021-01-18T20:23:39+00:00