Standard Diversified Opportunities’ $25 million Senior Credit Facility


Choate recently advised Crystal Financial LLC in a Senior Credit Facility with Standard Diversified Opportunities Inc. (SDOI) and four of its subsidiaries.

Crystal Financial LLC closed a $25.0 million Senior Credit Facility for Standard Diversified Opportunities Inc. (“SDOI”).

SDOI is a publicly-traded holding company (OTCPK: SDOIA), which invests directly in middle-market operating businesses. To date, the Company’s investments include: a majority stake in Turning Point Brands (NYSE: TPB); an out-of-home advertising business with assets in Texas, Alabama, Florida and Georgia; and ownership of Maidstone Insurance Company, an auto, personal property and casualty insurance business, based in NY.

Proceeds from the financing will be utilized for further strategic acquisitions of operating businesses.

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.

Choate advised Crystal Financial LLC with a team including Kevin J. Simard (Picture), Seth D. Mennillo and Alexandra C. Fischbein.

Involved fees earner: Kevin Simard – Choate; Seth Mennillo – Choate; Alexandra Fischbein – Choate;

Law Firms: Choate;

Clients: Crystal Financial LLC;

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Author: Ambrogio Visconti