Daily News: October 7, 2015

Prospect Capital Provides $17.5MM to Centre Lane Portfolio Company


Prospect Capital provided $17.5 million of first lien senior secured floating rate debt to support the recapitalization of Easy Gardener Products, a portfolio company of Centre Lane Partners.

“We are excited to team up with Prospect on our third transaction together,” said Nathan Richey, a managing director of Centre Lane. “Prospect’s speed and agility in execution, together with its understanding of the consumer products industry, were integral to the success of this recapitalization.”

“We are pleased with Easy Gardener’s leading market position and strong customer relationships,” said Richard Carratu, a managing director of Prospect Capital Management. “We welcome the opportunity to support Centre Lane and the Easy Gardener management team as they continue to grow the business.”

Waco, TX-based Easy Gardener distributes more than 1,000 SKUs through a network of over 50 lawn and garden retailers in North America.