MCG Capital Corporation (Nasdaq: MCGC) (“MCG”) today announced the
closing of a $12 million investment in Accurate Group Holdings, LLC.
(“Accurate”). MCG’s investment consists of a $10 million subordinated
term loan and a $2 million equity co-investment.
Accurate is a technology-enabled, outsourced provider of real estate
transaction services to mortgage lending and loan servicing clients.
MCG’s investment was made concurrently with ABS Capital Partners’
(“ABS”) investment in Accurate. ABS is a growth equity firm that makes
investments typically ranging from $10 to $50 million.
“We are excited about partnering with ABS again and value our long
standing relationship,” stated Peter Malekian, Executive Vice President
and Managing Director of MCG. “In our view, Accurate is a quality growth
company with a high caliber management team led by President and CEO,
Paul Doman. We believe that this investment highlights our expertise and
continued interest in providing flexible financing solutions for
technology, software and information-enabled business service companies
in a broad range of end markets.”
“We are pleased to again be working with MCG as a partner. We
appreciated the speed with which they were able to thoroughly analyze
and commit to this financing and look forward to their insights and
judgments as Accurate continues to grow its business in the coming
years,” remarked Phil Clough, Managing General Partner at ABS.
About MCG Capital Corporation
MCG Capital Corporation is a solutions-focused commercial finance
company providing capital and advisory services to middle-market
companies throughout the United States. Our investment objective is to
achieve current income and capital gains. Our capital is generally used
by our portfolio companies to finance acquisitions, recapitalizations,
buyouts, organic growth and working capital. For more information,
please visit www.mcgcapital.com.
Forward-looking Statements:
Statements in this press release regarding management’s future
expectations, beliefs, intentions, goals, strategies, plans or prospects
may constitute forward-looking statements for purposes of the safe
harbor protection under applicable securities laws. Forward-looking
statements can be identified by terminology such as “anticipate,”
“believe,” “could,” “could increase the likelihood,” “estimate,”
“expect,” “intend,” “is planned,” “may,” “should,” “will,” “will
enable,” “would be expected,” “look forward,” “may provide,” “would” or
similar terms, variations of such terms or the negative of those terms.
Such forward-looking statements involve known and unknown risks,
uncertainties and other factors including management’s belief in
Accurate’s management team and ability to grow and the belief that MCG’s
investment in Accurate reinforces MCG’s expertise in providing flexible
financing solutions for technology, software and information-enabled
business service companies in a broad range of end markets, as well as
those risks, uncertainties and factors referred to in MCG’s Quarterly
Report on Form 10-Q for the quarter ended September 30, 2012 filed with
the Securities and Exchange Commission under the section “Risk Factors,”
as well as other documents that may be filed by MCG from time to time
with the Securities and Exchange Commission. As a result of such
risks, uncertainties and factors, actual results may differ materially
from any future results, performance or achievements discussed in or
implied by the forward-looking statements contained herein. MCG
is providing the information in this press release as of this date and
assumes no obligations to update the information included in this press
release or revise any forward-looking statements, whether as a result of
new information, future events or otherwise.
