Prospect Capital Funds $55 Million First Lien Senior Secured Floating Rate Term Loan to Enseo
June 22 2021 - 7:00AM
Prospect Capital Corporation (NASDAQ: PSEC) (“Prospect”) announced
today that Prospect has funded a $55 million first lien senior
secured floating rate term loan to support the acquisition of Enseo
Holdings, Inc. (“Enseo”) by an affiliate of H.I.G. Capital, LLC
(“H.I.G.”).
Enseo is the premier provider of customer
experience management technology in the U.S., offering solutions in
hospitality, senior living, education, and healthcare. Located in
Plano, TX, Enseo has been engineering innovative hardware and
software solutions for 21 years that deliver in-room entertainment,
managed WiFi, smart room automation (IoT) and energy management,
and a suite of health & safety solutions including employee
emergency alert system, MadeSafe®, and touchless technology. Enseo
is enjoyed by more than 85 million users annually.
“We are once again pleased to engage with the
Prospect team, which deployed its diligent approach of providing a
creative and flexible financing solution for the Enseo investment,”
said Todd Ofenloch, Managing Director of H.I.G. “This transaction
constitutes our 31st financing with Prospect.”
“Our assessment of Enseo’s customer-centric
solutions validated Enseo as a leader versus competitive offerings
in the hospitality sector,” said Jason Wilson, a Managing Director
at Prospect Capital Management L.P. “Our work also demonstrated the
positive application of Enseo’s technology solutions to enhance
both guest experience quality and employee safety in the
hospitality, senior living, education, and multifamily residential
sectors.”
ABOUT PROSPECT CAPITAL
CORPORATION
Prospect Capital Corporation
(www.prospectcap.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.
For further information, contact: Grier Eliasek,
President and Chief Operating Officer grier@prospectcap.com
Telephone (212) 448-0702
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