BOSTON, March 1, 2011 (GLOBE NEWSWIRE) -- THL Credit, Inc. (Nasdaq:TCRD) ("THL Credit") today announced that it participated in the recapitalization of SiVance, LLC ("SiVance"), a manufacturer of specialized silicone-based chemicals and a portfolio company of GenNx360 Capital Partners ("GenNx360"). THL Credit and its managed fund, THL Credit Greenway Fund LLC, provided the subordinated debt capital in the recapitalization. "THL Credit continues to execute on its strategy of partnering with the sponsors and management teams of strong companies in growing industries. With its precision performance materials and long-standing customer relationships, SiVance is uniquely positioned to take advantage of new opportunities and continued expansion in the silicone market," said Sam Tillinghast, Co-President of THL Credit. Headquartered in Gainesville, Florida, SiVance specializes in the use of silicone-based chemistry to produce low volume, high value-added specialty chemicals for customers in need of precision performance materials. Tillinghast added, "As our sixth investment in Texas and the southeast, today's announcement demonstrates THL Credit's commitment to identifying growing companies and supporting business development in the region." 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.