Daily News: October 8, 2012

THL Credit Closes Four New Investments


THL Credit, Inc. announced that it participated in four new investment transactions. It provided financing for: the acquisition of HEALTHCAREfirst through a refinancing of its original investment, the acquisition of 20-20 Technologie, the refinancing of Marine Acquisition Corp. and the acquisition of Cydcor.

THL Credit refinanced its investment in HEALTHCAREfirst in support of Pamlico Capital’s acquisition of the company, providing a senior secured term loan (last out unitranche structure). HEALTHCAREfirst provides software as a service (SaaS) and related services to small- and medium-sized home health (HHA) and hospice agencies. The company is headquartered in Ozark, MO.

“HEALTHCAREfirst is well positioned to serve the home health and hospice industry and meet the demands of an ever changing regulatory environment. We are excited for another opportunity to support management and now Pamlico Capital,” said Chris Flynn, managing director of THL Credit.

THL Credit participated in the financing for the acquisition of 20-20 by Vector Capital, providing a senior secured term loan (last out unitranche structure). 20-20 is a Canadian-based provider of computer-aided design (CAD) software and end-to-end solutions for the interior design and furniture industries.

“20-20 Technologies offers an integrated software platform for use from showroom to factory floor. We are excited to partner with the company as it expands into adjacent markets,” said Hunter Stropp, co-president of THL Credit.

THL Credit participated in the refinancing of Teleflex Marine, a portfolio company of H.I.G. Capital, providing subordinated debt capital. Headquartered in Limerick, PA, Teleflex Marine is a global, full-service provider of integrated steering systems and driver controls for recreational boats.

“Teleflex Marine is the ‘go-to’ manufacturer of steering systems for the recreational boating industry and has established itself as the global player in this niche marine segment. Management has positioned the company for continued success into the future by cultivating long-term relationships with its customers and developing strong, recognizable brands,” said Chris Flynn, managing director of THL Credit.

THL Credit participated in the financing for the acquisition of Cydcor by its executive management team providing a senior secured term loan. Founded in 1994 and headquartered in Westlake Village, CA, Cydcor is a face-to-face customer acquisition company providing services throughout North America.

“The business provides a personal and cost-effective way for Cydcor’s clients to reach customers when compared to other sales methods. The management team has a track record of driving growth and we look forward to supporting them as they take full ownership of the company,” said Hunter Stropp, co-president of THL Credit.

THL Credit, headquartered in Boston, THL Credit invests primarily in junior capital securities, including subordinated, or mezzanine, debt and second lien secured debt, which junior capital may include an associated equity component such as warrants, preferred stock or other similar securities.