Houston, Feb. 22, 2013 (GLOBE NEWSWIRE) -- NGP Capital Resources Company (NASDAQ: NGPC) (the "Company")today announced the closing of its first two non-energy middlemarket portfolio investments, totaling $26.5 million. TheCompany completed a $17.5 million investment in a Texas-basedat-home health service provider and a $9.0 million investment in aleading manufacturer of urinalysis testing products. OCI Holdings, LLC On February 15, 2013, the Company closed a $17.5 millioninvestment in OCI Holdings, LLC ("OCI"). The Company'sinvestment in OCI includes a $15.0 million subordinated note and a$2.5 million direct equity co-investment. OCI is a homehealth provider of physical, occupational and speech therapyservices to pediatric patients in the state of Texas. Proceeds from the investment were used to refinance OCI and tofinance OCI's strategic acquisition of a provider of similarservices. The Company partnered with Ancor Capital Partners,a Fort Worth-based sponsor, and OCI's management team to facilitatethis transaction. KOVA International, Inc. On February 15, 2013, the Company provided $9.0 million ofSenior Subordinated Notes to KOVA International, Inc. ("KOVA") inorder to facilitate the acquisition of the urinalysis divisionof Hycor Biomedical, Inc. by One Rock Capital Partners,Laurel Crown Partners and StoneCreek Capital. Since 1974, theKOVA product lines have been among the leading disposable plasticsand liquid controls products used in the urinalysis testingmarket. Steve Gardner, the Company's President and CEO stated, "We areimpressed with the experience and operational performance of themanagement teams at both OCI and KOVA, and are pleased to supportthem and to facilitate the continued expansion of theirbusinesses. We look forward to working with Ancor CapitalPartners, One Rock, Laurel Crown and StoneCreek Capital in thesebusinesses, as well as continuing to expand our relationships witheach of these sponsors in the future."
Michael Brown, the Company's Managing Director and Head ofMiddle Market Investments, added, "We have been pleased with themarket's response to our expansion into the middle marketsector. It has been great to reconnect and partner once againwith many fund sponsors, former management teams and colleagueswith whom I have worked in the past. Our ability todemonstrate flexibility with deal size and structure, competitivepricing and market terms, and a streamlined approval process hasbeen well received by buyers and gives them the assurances theyneed in today's market environment. We look forward tocontinuing to build our middle market portfolio, as well ascontinuing to build on our strength in the energy sector."About NGP Capital Resources Company NGP Capital Resources Company is a closed-end, non-diversifiedmanagement investment company that has elected to be regulated as abusiness development company under the Investment Company Act of1940. We principally invest in private companies and fromtime to time, we may also invest in public companies. Weinvest primarily in senior secured and mezzanine loans according toour business plan and in some instances receive equity interests inportfolio companies in connection with such investments. Ourmanager is NGP Investment Advisor, LP, an affiliate of NGP EnergyCapital Management ("NGP ECM"). Founded in 1988, NGP ECM is apremier investment franchise in the natural resources industry,which together with its affiliates has managed $13 billion incumulative committed capital since inception. Forward-Looking Statements This press release may contain forward-looking statements. We may use words such as "anticipates," "believes," "intends,""plans," "expects," "projects," "estimates," "will," "should,""may" and similar expressions to identify forward-lookingstatements. These forward-looking statements are subject tovarious risks and uncertainties. Certain factors could causeactual results and conditions to differ materially from thoseprojected, including the uncertainties associated with the timingof transaction closings, changes in interest rates, availability oftransactions, the future operating results of our portfoliocompanies, regulatory factors, changes in regional, national, orinternational economic conditions and their impact onthe industries in which we invest, other changes in the conditionsof the industries in which we invest and other factors enumeratedin our filings with the Securities and Exchange Commission (the"SEC").
You should not place undue reliance on such forward-lookingstatements, which speak only as of the date they are made. Weundertake no obligation to update our forward-looking statementsmade herein, unless required by law.Persons considering an investment in NGP Capital ResourcesCompany should consider the investment objectives, risks, andcharges and expenses of the Company carefully beforeinvesting. Such information and other information about us isavailable in our annual report on Form 10-K, in our quarterlyreports on Form 10-Q and in prospectuses we issue from time to timein connection with our offering of securities. Such materialsare filed with the SEC and copies are available on the SEC'swebsite, www.sec.gov, and in theInvestor Relations section of our website at www.ngpcrc.com. Prospectiveinvestors should read such materials carefully beforeinvesting. INVESTMENT CONTACT: Please send investment proposals to: NGP Capital Resources Company 713-752-0062 Steve Gardner (firstname.lastname@example.org), Michael Brown ( email@example.com), Hans Hubbard ( firstname.lastname@example.org), or Chris Ryals ( email@example.com).
CONTACT: Investor Relations: L. Scott Biar (firstname.lastname@example.org) 713-752-0062.