MCG Capital received an unsolicited letter outlining a proposed transaction from HC2 Holdings. In late April, MCG agreed to merge with PennantPark Floating Rate Capital.
MCG Capital closed a $12.6 million investment in Community Investors. The investment consists of a senior secured unitranche credit facility, a revolving line of credit and an equity co-investment.
MCG Capital closed two follow-on investments aggregating $10.1 million in Community Intervention Services to support its acquisition of Access Family Services and Family Behavioral Resources. MCG’s investments were subordinated term loans.
MCG Capital closed a $14.9 million investment in Hammond’s Candies in conjunction with the acquisition of The Virginia Food Group, (d/b/a) Old Dominion Peanut Company by Hammond’s. Matrix Capital Markets served as exclusive financial advisor.