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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
Sard Verbinnen & Co