This Day On The Street
Continue to site
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

MVC Capital Makes $8 Million Debt Investment In Morey's Seafood International LLC

PURCHASE, N.Y., Sept. 3, 2013 (GLOBE NEWSWIRE) -- MVC Capital, Inc. (NYSE:MVC), a publicly traded business development company that makes private debt and equity investments, announced today an $8 million debt investment in Morey's Seafood International LLC ("Morey's"), a Minnesota-based manufacturer, marketer, and distributor of wholesale seafood and specialty products to major grocers, and food service broad liners nationwide.

MVC's $8 million investment was part of a refinancing undertaken by Morey's to help fuel its growth.

Over the past decade, Morey's Seafood has transitioned from a regional niche manufacturer and distribution business into a nationally branded seafood company. Over the past several years, Morey's Seafood has experienced significant growth as a result of process improvement measures and continued high-quality sourcing, coupled with favorable market dynamics.

"Through a well-executed business plan, Morey's Seafood has reported strong financial results over the past few years and is anticipating further business expansion," said James O'Connor, Managing Director of The Tokarz Group Advisers, LLC, investment adviser to MVC Capital.

"This investment reflects a further step in executing against our yielding strategy by partnering with strong management teams in middle-market businesses that have niche market opportunities with favorable growth potential," said Michael Tokarz, Chairman & Portfolio Manager of MVC Capital, Inc.


About Morey's Seafood International LLC

Morey's Seafood International is a leading distributor of wholesale seafood and specialty products to big box stores, grocery stores, and food service broad liners. Morey's Seafood is an established business, operating continuously for over 70 years out of its headquarters in Minnesota. The Company is organized in two divisions—specialty products, which sells ready-to-cook meals, and distribution, which supplies fresh/frozen seafood to retailers.

About MVC Capital, Inc.

MVC Capital, Inc. is a business development company traded on the New York Stock Exchange that provides long-term debt and equity investment capital to fund growth, acquisitions and recapitalizations of companies in a variety of industries.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,813.39 +1.20 0.01%
S&P 500 2,088.87 -0.27 -0.01%
NASDAQ 5,116.1430 +13.3350 0.26%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs