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THL Credit Closes Two New Investments

BOSTON, Jan. 31, 2011 (GLOBE NEWSWIRE) -- THL Credit, Inc. (Nasdaq:TCRD) ("THL Credit") today announced that it has recently participated in two financing transactions: the recapitalization of Charming Charlie, Inc., and the refinancing of Purple Communications(TM), Inc. ("Purple").

"Demand for junior capital from private equity sponsors remains robust, and we are seeing a growing demand from independent or unsponsored opportunities. Our investments in Charming Charlie last week and Purple in December are examples of financing great companies built through strong relationships with the principals," said James K. Hunt, Chief Executive Officer of THL Credit.

RECAPITALIZATION OF CHARMING CHARLIE

THL Credit and its managed fund, THL Credit Greenway Fund LLC, provided the subordinated debt capital in the recapitalization of Charming Charlie, Inc., a portfolio company of Hancock Park Associates. Headquartered in Houston and operating in over 25 markets across United States, Charming Charlie is a fashion accessory boutique that offers unique fashion accessories, such as earrings, necklaces, bracelets, handbags, scarves and belts to a diverse female clientele.

"Charming Charlie has built a unique boutique concept in women's fashion accessories with a strong presence in large urban and suburban markets.  We are pleased to be able to support the company's growth," said Sam Tillinghast, Co-President of THL Credit.

PARTICIPATION IN REFINANCING OF PURPLE

THL Credit provided capital in the refinancing of Purple. Headquartered in Rocklin, California, Purple is a provider of communications services for people who are deaf, hard of hearing and speech disabled. Purple operates its business along two primary relay business units: Video Relay – which includes VRS, on-site interpreting and video remote interpreting – and Text Relay.

"Purple offers a valuable service that aids, enables and empowers conversation among a large community of users. We are pleased to partner with a company that enriches the lives of its customers; we look forward to supporting Purple's growth and value creation for stakeholders," said Chris Flynn, Managing Director at THL Credit. 

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