NEW YORK, NY--(Marketwired - Jun 16, 2015) - Prospect Capital Corporation (
Headquartered in Atlanta, Capstone services over 50 customers at more than 240 facilities across 45 states. Capstone is an outsourced supply-chain-solutions provider offering freight handling services, supply-chain consulting, and management of distribution centers. Capstone's workforce solutions allow distribution center operators to outsource non-core labor-intensive elements of their supply chains. The Jordan Company, L.P. purchased Capstone in August 2014.
Pinnacle provides fully managed workforce solutions with a North American platform of over 80 client-owned sites across multiple end markets. Services include freight handling, order selection, warehouse maintenance, and co-packing and kitting. Capstone and Pinnacle together expect to share complementary end markets and services, offer a strengthened platform to better serve customers, and experience immediate cost synergies.
"Prospect is pleased to provide financing to support the combination of two supply chain logistics market leaders under the capable ownership of a strong financial sponsor," said Jason Wilson, a Managing Director of Prospect Capital Management.
Prospect has closed approximately $2.0 billion of new originations in the twelve months ended March 31, 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.