Daily News: April 2, 2013

Full Circle Capital Closes Two Transactions Totaling $10.4MM


Full Circle Capital announced the closing of two senior secured credit facilities representing a total of $10.4 million of commitments.

Full Circle Capital provided a $6 million senior secured credit facility to Modular Process Control (MPC), a professional engineering services firm focused on energy efficiency solutions for industrial companies. MPC has been operating for over 30 years and is based in Chesterfield, MO.

The credit facility consists of a senior revolving line of credit and a senior term loan. Proceeds of the financing are to be used for debt refinancing, to fund growth projects and for working capital.

Full Circle Capital also closed a $4.4 million senior secured credit facility with Pristine Environments, Inc. (PEI), which provides facilities maintenance services to large commercial and government clients. PEI is headquartered in McLean, VA and has operations nationwide.

The credit facility consists of a senior revolving line of credit and a senior term loan. Proceeds of the facility are to be used to partially fund an acquisition and for working capital.

Full Circle Capital is a Rye Brook, NY-based closed-end investment company that lends to and invests in senior secured loans and, to a lesser extent, mezzanine loans and equity securities issued by smaller and lower middle-market companies.