NEW YORK, NY--(Marketwired - Jul 14, 2015) - Prospect Capital Corporation (
Headquartered in Pittsburgh, Pennsylvania, System One is a top 35 staffing firm in the United States and is a leader in specialized workforce solutions. System One provides professional staffing and targeted services primarily to the energy, engineering, commercial, scientific, clinical, information technology, and legal sectors. System One has over 700 employees in 48 North American offices and averages approximately 5,000 revenue-producing consultants.
Quality Programs employs over 300 quality inspection personnel who provide destructive and nondestructive testing, quality assurance, and quality control primarily to nuclear, government, and petrochemical customers.
"In our November 2014 financing, we provided MidOcean with a delayed draw term loan available for performance-based shareholder distributions and accretive acquisitions," said Jason Wilson, a Managing Director of Prospect Capital Management L.P. "We are pleased to support MidOcean's decision to use our facility to continue to enhance System One's scale and scope through an acquisition that creates a highly competitive player in the nondestructive testing and quality services markets."
Prospect closed approximately $2.0 billion of new originations in the twelve months ended June 30, 2015.
ABOUT PROSPECT CAPITAL CORPORATION
Prospect Capital Corporation (www.prospectstreet.com) is a business development company that focuses on lending to and investing in private businesses. Prospect's investment objective is to generate both current income and long-term capital appreciation through debt and equity investments.
Prospect has elected to be treated as a business development company under the Investment Company Act of 1940 ("1940 Act"). Prospect is required to comply with a series of regulatory requirements under the 1940 Act as well as applicable NASDAQ, federal and state rules and regulations. Prospect has elected to be treated as a regulated investment company under the Internal Revenue Code of 1986. Failure to comply with any of the laws and regulations that apply to Prospect could have an adverse effect on Prospect and its shareholders.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, whose safe harbor for forward-looking statements does not apply to business development companies. Any such statements, other than statements of historical fact, are highly likely to be affected by other unknowable future events and conditions, including elements of the future that are or are not under Prospect's control, and that Prospect may or may not have considered; accordingly, such statements cannot be guarantees or assurances of any aspect of future performance. Actual developments and results are highly likely to vary materially from any forward-looking statements. Such statements speak only as of the time when made, and Prospect undertakes no obligation to update any such statement now or in the future.