BOSTON and LOS ANGELES, Feb. 17, 2011 (GLOBE NEWSWIRE) -- THL Credit, Inc. (Nasdaq:TCRD) ("THL Credit") today announced that it participated in the recapitalization of Pomeroy IT Solutions, Inc. ("Pomeroy" or the "Company"), a portfolio company of Platinum Equity ("Platinum"). THL Credit and its managed fund, THL Credit Greenway Fund LLC, partnered with Triangle Capital Corporation to provide junior debt capital in the recapitalization.
"Through its comprehensive portfolio of service offerings, Pomeroy is uniquely positioned to take advantage of new opportunities and continued growth in the IT outsourcing market. Together with our partner in the transaction, we look forward to supporting Platinum and the Company as they build upon this operating platform," said Kunal Soni, Managing Director of THL Credit.
Headquartered in Hebron, KY, Pomeroy is a leading IT services and solutions provider serving Fortune 2000 companies, state and local government agencies and middle market clients.About THL Credit THL Credit is an externally-managed, non-diversified closed-end management investment company that has elected to be treated as a business development company (BDC) under the Investment Company Act of 1940. THL Credit's investment objective is to generate both current income and capital appreciation, primarily through investments in privately negotiated debt and equity securities of middle market companies. THL Credit is headquartered in Boston, with additional investment teams in Los Angeles and Houston. THL Credit invests primarily in private subordinated debt, or mezzanine debt, in middle market companies with annual revenues of between $25 million and $500 million that require capital for growth and acquisitions. Such investments in many cases include an associated equity component such as warrants, preferred stock or other similar securities. THL Credit's investment activities are managed by THL Credit Advisors LLC, an investment adviser registered under the Investment Advisers Act of 1940.
CONTACT: Investor Contact: THL Credit, Inc. Terrence W. Olson, COO & CFO 617-790-6010 Media Contact: Sard Verbinnen & Co Michael Henson 212-687-8080
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
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.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
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.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV