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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.