Case Summary: North East Linen Supply
North East Linen Supply
$14.5 million senior credit facility
NELS, consisting of operating companies New England and North East Linen Supply, is a leading linen service and uniform rental company serving upscale restaurants and corporate & educational dining facilities. The Company provides a full suite of textile products including table linens and uniforms along the Northeast corridor with a significant market position in Manhattan.
The Company was seeking a new capital provider to deliver a more efficient and cost effective capital structure.
Crystal Financial SBIC provided a $14.5MM senior secured term loan. The transaction optimized the Company’s capital structure by creating liquidity from its working capital,
M & E, Real Estate and intangible assets.