Daily News: June 13, 2013

Stellus Invests $25MM in North Mill Capital Parent

Colford Capital Holdings, a holding company that owns and manages specialty finance businesses, announced that Stellus Capital Investment has provided Colford $25 million in the form of senior secured notes. Colford plans to deploy the funds into its operating subsidiaries to support their continued growth and to facilitate future lending platform acquisitions as part of Colford’s strategy to build a diversified, industry-leading specialty finance and asset management business.

A portion of the proceeds will be used to fuel the expansion of Colford’s existing lending platforms, North Mill Capital, a provider of asset-based loans and invoice based factoring, and North Mill Equipment Finance, a national provider of small and middle-ticket equipment financing solutions.

David C. Lee, president and CEO of Colford, stated “We are excited to partner with Stellus, who shares our enthusiasm regarding the growth potential of the Colford platform and our operating subsidiaries. This capital will allow us to continue to execute on our strategic plan and leverage our existing lending platforms while continuing to pursue acquisitions of complimentary specialty finance platforms and lease and loan portfolios.”