Daily News: July 6, 2015

Prospect Provides Commitment to Support Webster Capital Acquisition


Prospect Capital provided a commitment to support the acquisition of Bay Area Addiction Research and Treatment (BAART) by an investment fund affiliated with Webster Capital Management.

Prospect’s secured financing is comprised of an initial term loan and additional commitments in the form of a delayed draw term loan and revolving credit facility.

San Francisco, CA-based BAART operates 22 outpatient opioid treatment service clinics in CA, AZ, NE, NC and VT.

Prospect Capital is a business development company that focuses on lending to and investing in private businesses. Prospect closed approximately $2.0 billion of new originations for the twelve months ended June 30, 2015.