Crown Capital Partners Announces Repayment of Loan to Questrade Inc.
Jul 27, 2015, 10:56 ET
/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN/
CALGARY, July 27, 2015 /CNW/ - Crown Capital Partners Inc. ("Crown") (TSX: CRN) today announced the repayment by Questrade Inc. of a special situations loan managed by Crown.
Questrade Inc. is one of Canada's largest and fastest growing online brokerages and a member of Questrade Financial Group ("Questrade"). As part of Crown's special situations financing program, in December 2013, Crown arranged a $10.0 million, five year, debt facility for Questrade. On July 24, 2015, Questrade prepaid this facility in full, including principal, interest and fees.
"Crown is delighted to have had the opportunity to participate in Questrade's success," says Chris Johnson, President and CEO of Crown. "Questrade is an outstanding company led by an exceptional management team" adds Johnson.
Questrade has been named one of Canada's Best Managed Companies four years in a row. Edward Kholodenko, President and CEO of Questrade and the 2014 recipient of an E&Y Entrepreneur of the Year Award said "Crown was an ideal capital provider for Questrade. Crown understood the unique requirements of our rapidly expanding business and we benefited greatly from Crown's patient, non-dilutive capital."
Crown is a specialty finance company focused primarily on providing capital to successful Canadian companies, and to 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 transitory and permanent 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.
To find out more about Crown (TSX: CRN) please visit our website www.crowncapital.ca.
SOURCE Crown Capital Partners Inc.
For further information: Christopher Johnson, President & CEO, [email protected], (416) 640-6715
Share this article