BOSTON–(BUSINESS WIRE)–Crystal Financial LLC today announced the closing of a $15.0 million
Senior Term Loan for People’s Care Holdings Inc. (“People’s Care”).
People’s Care Holdings Inc. (People’s Care) provides care services for
adults with intellectual and development disabilities in the state of
California and Nevada. Founded in 1998, the Company operates over 52
residential homes as well as 14 community centers with daily programming.
Proceeds from the financing will be used to consolidate the company’s
existing debt facilities, and to finance the expansion of the Company’s
network of Group Residential Homes and Community Day Centers.
“Our company is committed to providing our clients and their families
with choice, community and dignity through our independent living
options and employment service programs for adults with developmental
disabilities. The needs for this population are often unmet and
therefore we have been fortunate to have experienced significant growth.
Identifying a lending partner who understands our mission and is
supportive of our plans was critical. Crystal Financial clearly
demonstrated their commitment and we are confident in their ability to
facilitate our growth,” said Michael Kaiser, Founder and CEO of People’s
Andrew Hettinger, Senior Managing Director of Crystal Financial said,
“Michael and his team have built a terrific organization that delivers
comprehensive programming and services to support an individual’s path
to self-sufficiency. We look forward to a mutually beneficial long term
About Crystal Financial LLC
Crystal Financial LLC, a portfolio company of Solar Capital Ltd. is an
independent commercial finance company that provides senior and junior
secured loans for both asset-based and cash flow financings (minimum of
10 million in fundings) to middle-market companies. Its team of
experienced, responsive professionals has underwritten, closed and
managed more than $20 billion in secured debt commitments across a wide
range of industries. For more information please visit www.crystalfinco.com.
About People’s Care Holdings Inc.
Founded in 1998 and headquartered in Chino Hills, California, PCHI is
one of the largest providers of residential, daycare, and supported
living services for people with intellectual and developmental
disabilities (“I/DD”) in California. The Company provides services to
over 1,000 clients and employs approximately 1,300 people.
- PCH currently operates 55 residential facilities with a total of 220
bed capacity, 12 day programs (30-50 person avg., ~750 total)., and
also separately provides supported living and personal assistant
services to approximately 180 individuals with I/DD.
- PCH has an additional 6 residential facilities and 2 day centers
completing buildout, licensing and entitlement process.
- The Company also provides autism therapy services and behavior
management to 170 clients.
CRYSTAL FINANCIAL LLC CONTACT
Cheryl Carner, 617-428-8718
CARE HOLDINGS INC. CONTACT
Michael J. Kaiser, 909-287-3557