Company Website:
http://www.sierraincomecorp.com
NEW YORK -- (Business Wire)
Sierra Income Corporation, a business development company that makes
senior secured investments in U.S. middle market companies, and its
affiliate Medley Management Inc. (“Medley”), announced today that it
provided a senior secured first lien term loan to facilitate the
acquisition by Impact Sales, LLC (“Impact Sales”) of Harlow-HRK Sales &
Marketing, Inc. (“Harlow”). Impact Sales is a current portfolio company
of CI Capital Partners LLC.
Headquartered in Dayton, Ohio, Harlow is a leader in providing sales,
marketing, analytical, and retail support to manufacturers of grocery,
natural, multicultural, and drug & general merchandise items. Harlow
provides services exclusively through The Kroger Co. network.
“Medley was a great partner throughout the transaction, providing us
with certainty of closing and a flexible capital structure that will
allow the company to capitalize on what we believe are excellent growth
prospects,” said Tim Hall, Managing Director of CI Capital Partners LLC.
“We are pleased to have formed a partnership with CI Capital Partners on
the acquisition financing for Harlow,” said Jeff Tonkel, President of
Sierra Income Corporation. “We look forward to continuing to work with
CI Capital Partners on this and other opportunities.”
About Sierra Income Corporation
Sierra is a non-traded business development company that invests
primarily in first lien senior secured debt, second lien secured debt
and, to a lesser extent, subordinated debt of middle market companies in
a broad range of industries with annual revenue between $50 million and
$1 billion. Sierra’s investment objective is to generate current income,
and to a lesser extent, long-term capital appreciation. Sierra is
externally managed by SIC Advisors LLC, which is an investment adviser
registered under the Investment Advisers Act of 1940, as amended. For
additional information, please visit Sierra Income Corporation at www.sierraincomecorp.com.
About SIC Advisors LLC
SIC Advisors LLC is an affiliate of Medley Management Inc. (NYSE: MDLY,
“Medley”). Medley is a credit-focused asset management firm offering
yield solutions to retail and institutional investors. Medley’s national
direct origination franchise, with over 85 people, is a premier provider
of capital to the middle market in the U.S. As of December 31, 2016,
Medley had in excess of $5.3 billion of assets under management in two
business development companies, Medley Capital Corporation (NYSE: MCC)
and Sierra Income Corporation, as well as private investment vehicles.
Over the past 14 years, Medley has provided in excess of $6 billion of
capital to over 350 companies across 35 industries in North America. For
additional information, please visit Medley Management Inc. at www.mdly.com.
Medley LLC, the operating company of Medley Management Inc., has
outstanding bonds which trade on the NYSE under the symbols (NYSE: MDLX)
and (NYSE:MDLQ). Medley Capital Corporation (NYSE: MCC) has outstanding
bonds which trade on the NYSE under the symbols (NYSE: MCQ), (NYSE:
MCV), and (NYSE: MCX).
Forward-Looking Statements
This press release contains forward-looking statements within the
meaning of the federal securities laws and regulations. These
forward-looking statements are identified by their use of terms and
phrases such as "anticipate," "believe," "continue," "could,"
"estimate," "expect," "intend," "may," "plan," "predict," "project,"
"should," "will" and other similar terms and phrases, including
references to assumptions and forecasts of future results.
Forward-looking statements are not guarantees of future performance and
involve known and unknown risks, uncertainties and other factors that
may cause the actual results to differ materially from those anticipated
at the time the forward-looking statements are made. Although Sierra
believes the expectations reflected in such forward-looking statements
are based upon reasonable assumptions, it can give no assurance that the
expectations will be attained or that any deviation will not be
material. Sierra undertakes no obligation to update any forward-looking
statement contained herein to conform the statement to actual results or
changes in Sierra’s expectations.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170123005752/en/
Contacts:
Investor Relations Contact:
Medley
Management Inc.
Sam Anderson
Head of Capital Markets & Risk
212-759-0777
or
Media
Contact:
Fitzroy Communications
Liz Bruce
212-498-9197
Source: Sierra Income Corporation
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