Daily News: April 10, 2014

Prospect Capital Facility Supports Ark-La-Tex Recapitalization

Prospect Capital announced Prospect funded a $54 million senior credit facility to support the recapitalization of Ark-La-Tex Wireline Services and affiliates (AWS) by Harren Equity Partners in concert with AWS’s senior management team.

“We are delighted to work on another transaction with Prospect,” said Jonathan Earnhardt, a partner at Harren. “Prospect’s responsiveness and creativity were integral to the success of this transaction, and we look forward to continuing our strong relationship with the Prospect team.”

“AWS’s impressive growth profile, experienced management team, and repeat customer relationships make the company a great fit for Harren, an experienced investor in the energy services sector,” said David Belzer, a managing Director of Prospect Capital Management. “We are excited to support Harren as AWS continues on a strong growth trajectory.”

Shreveport, LA-headquartered AWS is a provider of cased hole wireline and related completion-stage services in connection with oil and gas production.