MCG Capital Corporation (Nasdaq: MCGC) (“MCG” or the “Company”) today announced the completion of a successful 8 year investment relationship with Jenzabar, Inc., a leading provider of software, services and strategies for higher education.
MCG became a financial partner of Jenzabar in 2004 after recognizing the company as an upcoming leader in the higher education industry with strong market position and an impressive strategic vision. Over the last several years, Jenzabar has continued to capture significant market share and secured a solid financial position that supports the company's long-term success.
“As previously reported, Jenzabar represented one of the most favorable investment results in the MCG portfolio of companies,” said Rick Neu, CEO of MCG. “Jenzabar has been led by a strong management team and directors who have performed with the highest levels of integrity and wise judgment. We congratulate the Jenzabar team for consistently delivering outstanding software and services to its clients and achieving market leadership.”
“We thank Rick Neu for his support and look forward to continuing our progress in achieving financial leadership. The Jenzabar Board Members, management team, and staff have worked hard to deliver superior results for our shareholders and help provide our clients with the lowest possible cost of ownership,” said Robert A. Maginn, Jr., Jenzabar Chairman and Chief Executive Officer. “We are thrilled to now rank as higher education’s leading software and services provider with one of the two largest installed bases of customers in our market. With our focus in higher education along with our industry-leading financial position, we assure our customers a stable and long-standing partnership they can count on.”About MCG Capital Corporation MCG Capital Corporation is a solutions-focused commercial finance company providing capital and advisory services to middle-market companies throughout the United States. Our investment objective is to achieve current income and capital gains. Our capital is generally used by our portfolio companies to finance acquisitions, recapitalizations, buyouts, organic growth and working capital. For more information, please visit www.mcgcapital.com. About Jenzabar, Inc. Jenzabar, Inc. is a leading provider of enterprise software and services developed exclusively for higher education. With more than 40 years of combined experience offering technology solutions to colleges and universities, Jenzabar is the trusted partner of choice to more than 700 campuses worldwide, including private liberal arts, state, and community colleges and business, medical, law and other graduate schools. Jenzabar is headquartered in Boston, Massachusetts, with regional offices located across the United States. For further information, please visit www.jenzabar.com.