NEW YORK, June 04, 2018 (GLOBE NEWSWIRE) -- Prospect Capital Corporation (PSEC, Financial) (“Prospect”) announced today that Prospect has purchased $75 million of first lien senior secured floating rate notes and $5 million of revolving credit issued to support the acquisition of Eze Castle Integration, LLC (“ECI”) by affiliates of H.I.G. Capital, LLC (“H.I.G.”).
Headquartered in Boston and founded in 1995, ECI is a leading provider of managed services and technology solutions to the alternative investment manager and other end user industry markets. ECI delivers premier solutions that meet the high-end technology requirements of its financial services, legal, and other diversified clients. ECI’s comprehensive product and service offerings include private and hybrid cloud solutions, technology consulting, outsourced IT support, cybersecurity, business protection, private connectivity, and telecommunications.
“We appreciate the creativity and certainty Prospect provided through its flexible, one-stop capital solution,” said Caroline Kung, Principal of H.I.G. “We value our strong relationship with the Prospect team.”
“ECI’s innovative cloud products, broad array of partnerships with leading technology providers, and recurring solutions for ECI’s long-tenured clients represent differentiating investment attributes for Prospect in the information technology sector,” said Jason Wilson, Managing Director of Prospect Capital Management L.P. “We look forward to supporting ECI’s strong momentum as well as ECI’s multi-pronged growth initiatives contemplated under H.I.G.’s ownership.”
ABOUT PROSPECT CAPITAL CORPORATION
Prospect Capital Corporation (www.prospectstreet.com) is a business development company that focuses on lending to and investing in private businesses. Prospect’s investment objective is to generate both current income and long-term capital appreciation through debt and equity investments.
Prospect has elected to be treated as a business development company under the Investment Company Act of 1940 (“1940 Act”). Prospect is required to comply with a series of regulatory requirements under the 1940 Act as well as applicable NASDAQ, federal and state rules and regulations. Prospect has elected to be treated as a regulated investment company under the Internal Revenue Code of 1986. Failure to comply with any of the laws and regulations that apply to Prospect could have an adverse effect on Prospect and its shareholders.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, whose safe harbor for forward-looking statements does not apply to business development companies. Any such statements, other than statements of historical fact, are highly likely to be affected by other unknowable future events and conditions, including elements of the future that are or are not under Prospect’s control, and that Prospect may or may not have considered; accordingly, such statements cannot be guarantees or assurances of any aspect of future performance. Actual developments and results are highly likely to vary materially from any forward-looking statements. Such statements speak only as of the time when made, and Prospect undertakes no obligation to update any such statement now or in the future.
For further information, contact:
Grier Eliasek, President and Chief Operating Officer
[email protected]
Telephone (212) 448-0702
