The Scooter Store gets $25M infusion

Thursday, June 9, 2011

BOSTON – Crystal Financial announced June 9 that it has closed a $25 million round of financing for The Scooter Store.

The Scooter Store, an affiliated portfolio company of the private equity firm Sun Capital Partners, will use the funds for refinancing existing credit facility and for recapitalization, according to a press release.

Crystal Financial originates, underwrites and manages secured loans to middle market companies in all industries. Its team of debt-structuring experts have made more than $20 billion in loans, according to the release.

Mike Pfister, The Scooter Store’s executive vice president of government relations and external affairs, told HME News in February that the company needed help transitioning to a 13-month capped rental model for standard power wheelchairs, a change that went into effect Jan. 1.

To read more of our interview with Pfister, click here.