Sierra Income terminated its previously announced mergers with Medley Capital and Medley Management as the outside date passed and neither of the mergers were consummated.
Sierra Income, Medley Capital and Medley Management have entered into agreements under which MCC will merge with and into Sierra and Sierra will simultaneously acquire MDLY and its existing asset management business.
Medley Management provided a senior secured credit facility to support Summit Companies’ acquisition of ABC Fire and Cylinder Service.
Medley Management provided a senior secured credit facility to support the J.W. Childs Associates’ acquisition of home furnishings provider Walker Edison.
Medley Management amended its credit facility, extending the maturing date to March 31, 2020 and keeping the amount of the revolver at $15 million.
Medley Management said Medley Capital’s MCC Senior Loan Strategy JV1 and Sierra Income’s Senior Loan Strategy JV1 each closed on a $100 million credit facility. Credit Suisse was the administrative agent for both facilities.
Medley Management announced that Kunal Soni, managing director, has been promoted to head of Direct Lending in the Western region.