Case Summary: True Science
$40 million senior secured credit facility
True Science is a manufacturer and distributor of veterinarian-grade animal health and wellness products including prescription medications, OTC flea and tick treatments, supplements and healthy treats. Its products can be found at many retailers in the food, drug, mass and club channels. With a focus on safety and efficacy, all of its ingredients and products are sourced and manufactured in the U.S.
Having experienced significant growth and wanting to capitalize on demand for new products, the Company sought a debt facility that would provide enhanced flexibility and increased levels of liquidity.
Crystal provided a $40.0MM senior secured credit facility, consisting of a $33.0 million term loan and a $7.0MM revolver. The increased levels of availability will support the Company’s strategy of new product introductions and increased distribution into additional retail outlets.