ATLANTA, GA, March 10, 2013 /24-7PressRelease/
-- Crown & Caliber (http://www.crownandcaliber.com/), the leading purchaser of high-end luxury watches, has announced that is has received an increased financial commitment from its private equity sponsor, Powell Growth Capital, LLC (http://www.powellgrowthcapital.com/). While the specific terms of this increased equity commitment cannot be divulged, Hamilton Powell of Powell Growth Capital stated, "We are very excited about the incredible success the team at Crown & Caliber has achieved. The customer response has exceeded our expectations. We therefore have agreed to increase our commitment to Crown & Caliber well into the seven digit figures in order to accommodate this rapid growth."Powell also noted that this increased equity commitment is in addition to a multi-million dollar line of credit extended to the company by Wells Fargo.
Crown & Caliber has quickly established itself as the preferred place for watch owners to sell their watches. Crown & Caliber purchases all luxury watches, including Rolex, Patek Philippe, and Panerai (http://www.crownandcaliber.com/watches).
The additional funds that Powell Growth Capital is providing will be used for both inventory growth, as well as to expand the team of horology experts at the company. Crown & Caliber has grown significantly and quickly and these funds will assist the company with its future anticipated growth, allowing it to expand its service offering both domestically and internationally. Crown & Caliber has become the preferred place for watch collectors to sell their watch and these increased funds will help to ensure that Crown & Caliber continues on this path.
About Powell Growth Capital
Powell Growth Capital is a $20 million private equity firm based out of Atlanta, GA. It is affiliated with companies in a wide variety of industries, such as banking, broadcasting, insurance, marine construction, and many more.
About Crown & Caliber
The horology experts at Crown & Caliber have been purchasing watches for over 20 years. This expertise has helped to establish Crown & Caliber as the leading purchaser of high-end luxury watches. Crown & Caliber offers a safe and easy way to sell a luxury watch. A customer submits a free quote for their watch on Crown & Caliber's website. After the customer accepts the quote, Crown & Caliber sends pre-paid, pre-insured packaging and the watch is shipped back in these boxes. The watch will then be inspected by Crown & Caliber's watchmaker for one final evaluation. A final offer will then be extended. Once the customer accepts this offer, payment will be made immediately. Learn more about Crown & Caliber's process (http://www.crownandcaliber.com/the-process/).---
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