This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration. Need a new registration confirmation email? Click here
Houston, Feb. 22, 2013 (GLOBE NEWSWIRE) -- NGP Capital Resources Company (NASDAQ: NGPC) (the "Company") today announced the closing of its first two non-energy middle market portfolio investments, totaling $26.5 million. The Company completed a $17.5 million investment in a Texas-based at-home health service provider and a $9.0 million investment in a leading manufacturer of urinalysis testing products.
OCI Holdings, LLC
On February 15, 2013, the Company closed a $17.5 million investment in OCI Holdings, LLC ("OCI"). The Company's investment in OCI includes a $15.0 million subordinated note and a $2.5 million direct equity co-investment. OCI is a home health provider of physical, occupational and speech therapy services to pediatric patients in the state of Texas. Proceeds from the investment were used to refinance OCI and to finance OCI's strategic acquisition of a provider of similar services. The Company partnered with Ancor Capital Partners, a Fort Worth-based sponsor, and OCI's management team to facilitate this transaction.
KOVA International, Inc.
On February 15, 2013, the Company provided $9.0 million of Senior Subordinated Notes to KOVA International, Inc. ("KOVA") in order to facilitate the acquisition of the urinalysis division of Hycor Biomedical, Inc. by One Rock Capital Partners, Laurel Crown Partners and StoneCreek Capital. Since 1974, the KOVA product lines have been among the leading disposable plastics and liquid controls products used in the urinalysis testing market.
Steve Gardner, the Company's President and CEO stated, "We are impressed with the experience and operational performance of the management teams at both OCI and KOVA, and are pleased to support them and to facilitate the continued expansion of their businesses. We look forward to working with Ancor Capital Partners, One Rock, Laurel Crown and StoneCreek Capital in these businesses, as well as continuing to expand our relationships with each of these sponsors in the future."