This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

THL Credit Closes Three Investments

BOSTON, Oct. 19, 2010 (GLOBE NEWSWIRE) -- THL Credit, Inc. (Nasdaq:TCRD) ("THL Credit" or the "Company") today announced that it has participated in three financing transactions: the recapitalization of OEM Group, Inc., the refinancing of MedQuist Inc. (Nasdaq:MEDQ) and T&D Solutions, LLC's acquisition of E&R, Inc.

"These transactions are representative of the fact that we are investing to plan and deploying capital in strong companies with reliable returns. Each of these investments matched our disciplined underwriting and credit selection process," said James K. Hunt, chief executive officer of THL Credit. "We remain focused on identifying and closing investments in top-tier companies and with strong lending partners."

RECAPITALIZATION OF OEM GROUP

THL Credit led the senior debt recapitalization of OEM Group, Inc., a global provider of capital equipment solutions to worldwide makers of silicon devices, as well as other emerging applications. Headquartered in Gilbert, AZ, the company is also the market leader in supporting legacy process equipment.

"We are impressed with OEM Group's value proposition and believe that its comprehensive product lines and focus on legacy process equipment will allow the company to profit from favorable industry trends," said Hunter Stropp, co-president of THL Credit.

"OEM has a proven track record of capitalizing on legacy system trends. In addition to providing financing for the recapitalization, we are excited to partner with OEM Group in this transaction and look forward to its continued growth within the industry," added Kunal Soni, managing director of THL Credit Advisors LLC.

PARTICIPATION IN REFINANCING OF MEDQUIST

THL Credit has provided capital in order to refinance the debt incurred by MedQuist Inc. in connection with its April 2010 acquisition of the assets of Spheris, Inc., and to pay a one-time cash dividend to all MedQuist shareholders as of the October 11, 2010 record date. The Company partnered with BlackRock Kelso Capital Corporation, PennantPark Investment Corporation and Citibank, N.A to issue $85 million of senior subordinated notes.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,043.73 -27.49 -0.16%
S&P 500 1,971.20 -6.60 -0.33%
NASDAQ 4,492.3120 -13.54 -0.30%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs