Daily News: December 1, 2014

Prospect Capital Makes First Lien Investment in InterDent

Prospect Capital expanded its existing term loan credit facilities to InterDent, an H.I.G. Capital portfolio company, by $127 million as part of an add-on acquisition growth and recapitalization strategy. The incremental facility is comprised of a $120 million increase in the existing first lien senior secured term loan as well as a $7 million delayed draw term loan facility, resulting in a total Prospect facility size of $260 million.

“Prospect’s ability to quickly upsize and hold the entire one-stop facility, coupled with its ability to facilitate InterDent’s acquisition strategy, allows the company to stay focused on executing a multi-pronged growth strategy and expanding its leading position in the marketplace,” said Chris Laitala, a managing director of H.I.G.

“We are pleased to provide incremental capital supporting InterDent, a company led by a best-in-class management team and a dedicated sponsor in H.I.G.,” said Jason Wilson, a managing director of Prospect Capital Management. “Prospect’s one-stop financing solutions offer efficient alternatives to the syndicated debt market.”

Inglewood, CA-based InterDent is a provider of dental practice support services to multi-specialty group dental offices in the U.S.