Overview
The Scooter Store is the largest provider of power mobility solutions to customers through their retail locations in 48 states.
Challenge
80% of the Company’s sales involve Medicare patients. Healthcare Reform Act required a shift in Medicare payments from a one time to installment payments. The working capital impact of this change required the Company to seek additional liquidity.
Solution
Crystal provided a $25 million 2nd lien facility to support Sun Capital’s recapitalization.
“Crystal successfully structured and delivered a creative financing solution that was responsive to The SCOOTER Store’s complex financing needs. In conjunction with the senior revolver provided by CIT, Crystal’s second lien term loan provided incremental liquidity to support the company’s growth in working capital. We are excited about our investment in The SCOOTER Store and pleased to have Crystal Financial as a lender to the company.”
—Steve Liff, Senior Managing Director at Sun Capital Partners
