“We believe that Crystal Financial offers a compelling opportunity for us to invest in an established business whose management team has an exceptional track record,” said Michael Gross, Chairman and CEO of Solar Capital. “We have known the Crystal Financial management team over the course of our careers and have confidence in their long-term strategy for prudently growing their business.”“We believe that this portfolio company investment offers a highly attractive and diversified senior secured risk-return profile for Solar Capital,” said Bruce Spohler, Chief Operating Officer of Solar Capital. “We expect that our Crystal Financial investment will move us toward our target debt-to-equity ratio while increasing Solar Capital’s net investment income.” “We are excited about our new relationship with Solar Capital and the growth opportunities it presents,” said Ward Mooney, Chief Executive Officer of Crystal Financial LLC. “Solar Capital’s stable, long-term funding will enhance our ability to provide innovative financing solutions to our clients. The continued independence of our business operations will allow us to remain committed to the core values that have defined our long-term, collaborative partnerships with clients.” The acquisition is subject to customary closing conditions, including the expiration of the applicable waiting period under the Hart Scott Rodino Act, and is expected to close prior to year end. Deutsche Bank Securities Inc. acted as financial advisor to Crystal Financial for the transaction. ________________________ 1 Past results, either on the part of Solar Capital or Crystal Financial, are not necessarily indicative of future performance or earnings levels at either entity, and results may vary substantially from period to period as a result of a number of factors. See “Forward-Looking Statements” below. ABOUT CRYSTAL FINANCIAL LLC Crystal Financial LLC is a commercial finance company that primarily originates and underwrites asset-based and other secured custom solutions for clients that operate across diverse industries. Crystal Financial is headquartered in Boston, Massachusetts, with satellite offices in Chicago, Atlanta, and Los Angeles. The firm’s Chief Executive Officer, Ward Mooney, and Chief Credit Officer, Michael Pizette, each have over 20 years of specialty lending experience.
ABOUT SOLAR CAPITAL LTD.Solar Capital Ltd. is a closed-end investment company that has elected to be treated as a business development company under the Investment Company Act of 1940. Solar Capital invests primarily in leveraged, middle market companies in the form of senior secured loans, mezzanine loans, and equity securities. FORWARD-LOOKING STATEMENTS Statements included herein may constitute “forward-looking statements,” which relate to future events or our future performance or financial condition. These statements are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Solar Capital and Crystal Financial operate in a very competitive and rapidly changing environment, in which new risks emerge from time to time. Some of the factors that could cause actual results to differ materially from the forward-looking statements contained herein include, without limitation: (i) Crystal Financial’s ability to maintain its historical financial performance, (ii) departures of key members of the Crystal Financial management team following closing, and (iii) material adverse changes to the portfolio of assets held by Crystal Financial as of or following the closing. For a more detailed discussion of factors related to Solar Capital’s business, see the information under the captions "Risk Factors" in our most recent annual report on Form 10-K and our subsequent quarterly reports on Form 10-Q filed with the Securities and Exchange Commission. Given these risks and uncertainties, you should not place undue reliance on these forward-looking statements. Solar Capital undertakes no duty to update any forward-looking statements made herein.