Contact Information: Contact: Bruce Rubin 203-983-5280
TICC Announces $13.0 Million Transaction With Empire Scaffold, L.L.C.
| Source: Technology Investment Capital Corp.
GREENWICH, CT--(Marketwire - August 22, 2007) - Technology Investment Capital Corp. (NASDAQ : TICC ) announced today that it has completed an investment in $10.0 million
of senior secured notes issued by Empire Scaffold, L.L.C., an industrial
scaffold company with operations predominantly located in the Southeastern
United States. In connection with its investment today, TICC also
committed to invest in an additional $3.0 million in senior notes as Empire
Scaffold achieves certain milestones. TICC's investment supports the
recapitalization of Empire Scaffold which was led by a group of investors
including Unified Growth Partners, G.P., EverWatch Capital II, L.P., Inc.
and an individual, Joe Bloodworth.
About Empire Scaffold, L.L.C.
Empire Scaffold is a provider of scaffolding work access services to
industrial clients primarily in the Gulf Coast region of the United States.
Work access services include design engineering, project management and
labor for the erection and dismantlement of complex scaffolding systems and
associated equipment rental. Visit www.empirescaffold.com for more
information.
About Technology Investment Capital Corp.
We are a publicly traded business development company principally engaged
in providing capital to small to mid-size technology-related companies.
While the structures of our financings vary, we look to invest primarily in
the debt and equity of established technology-related businesses.
Companies interested in learning more about financing opportunities should
contact Barry Osherow at (203) 661-9572 or visit our website at
www.ticc.com.
About Unified Growth Partners G.P.
Unified Growth Partners is a private equity firm formed in 2005, with the
goal of creating and increasing value in small and middle market growth
companies. For additional information regarding Unified Growth Partners,
please visit their website at www.unifiedgrowth.com.
About EverWatch Capital II, L.P.
EverWatch Capital invests in industrial and service sectors, providing
growth and control equity. EverWatch Capital has offices in Greenwich, CT
and Barrington, RI.
Forward-Looking Statements
This press release contains forward-looking statements subject to the
inherent uncertainties in predicting future results and conditions. Any
statements that are not statements of historical fact (including statements
containing the words "believes," "plans," "anticipates," "expects,"
"estimates" and similar expressions) should also be considered to be
forward-looking statements. Certain factors could cause actual results and
conditions to differ materially from those projected in these
forward-looking statements. These factors are identified from time to time
in our filings with the Securities and Exchange Commission. We undertake
no obligation to update such statements to reflect subsequent events.