PROSPECT CAPITAL CORPORATION
NEW YORK, NY--(Marketwired - Aug 11, 2015) - Prospect Capital Corporation (
Headquartered in Dallas, Texas, Ryan specializes in tax advisory services for Fortune 500 companies. Ryan's primary business segments involve auditing various state, local, excise, and property tax filings and analyzing tax overpayments and other matters for its clients. Prospect made its initial investment in Ryan in December 2012 to support Ryan's acquisition of Property Tax Services from Thompson Reuters.
"The Ryan transaction demonstrates Prospect's strength in originating successful direct investments in management-owned companies using our proprietary methods and capabilities," said Richard Carratu, a Managing Director of Prospect Capital Management L.P. "Ryan further highlights our strategy of investing in market leaders and working with management teams to build larger, more efficient, and higher-quality businesses through organic and acquisition-driven growth."
With a 48 year history, Taco Bueno owns and operates a chain of quick service restaurants offering fast, casual, and quality Mexican cuisine within its core markets of Texas and Oklahoma. Prospect made its initial investment in Taco Bueno in December 2012 to support a recapitalization of the company. Taco Bueno is owned by Palladium Equity Partners ("Palladium"), a leading private equity firm based in New York.
"We have been impressed with the drive and focus of the Taco Bueno senior management team under Palladium's leadership," said Richard Carratu. "We look forward to teaming up with Palladium on future transaction opportunities."
Prospect closed approximately $2.0 billion of new originations in the twelve months ended June 30, 2015 and has a robust pipeline of new origination opportunities.
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.
