Case Summary: Robbins Company
$57.1 million senior term loan
With more than 60 years of innovation and experience, The Robbins Company, based in Solon OH, is the world’s most experienced developer and manufacturer of advanced, underground construction machinery. Robbins revolutionized tunnel construction when they designed the first hard rock tunnel boring machine (TBM) in 1956. Since then they have been involved in hundreds of tunnel boring projects around the world and their TBMs have set many world records for tunnel diameters. They offer an extensive range of underground excavation equipment.
Like all companies navigating through the recession, the impact of the global slowdown in new infrastructure spending including major tunnels projects had created challenging conditions for Robbins. They were committed to finding a new lending partner who could understand their financial performance and support their continued growth into new markets and additional products such as soft soil TBMs.
Crystal provided a $57.1MM Senior Term Loan which provided the necessary capital not only to refinance their current debt but also provided for incremental liquidity to support the Company as it experiences a rebound in infrastructure spending as well as their general growth plans.