NEW YORK, Jan. 31, 2019 /PRNewswire/ -- Medley
Management Inc. (NYSE: MDLY, "Medley"), today announced that it
provided a senior secured credit facility to support the
acquisition of ABC Fire and Cylinder Service ("ABC Fire") by Summit
Companies ("Summit"), a CI Capital Partners portfolio company.
ABC Fire is a commercial, residential, and industrial fire
prevention specialist with operations in Reno and Las Vegas. The acquisition
represents a strategic geographic expansion of Summit's existing
fire protection, life safety, and consulting business. Summit
has locations in Arizona,
Iowa, Michigan, Minnesota, Nebraska, Nevada, North
Dakota, Texas, and
Wisconsin, and provides its
services across the United
States.
"Medley was a great partner in this transaction and delivered
the financing we required with speed and certainty," said
Timothy Hall, a Partner with CI
Capital Partners. "We look forward to continuing to work
together to support Summit Companies' continued success."
"We are delighted to support CI Capital Partners and Summit by
providing a flexible financing solution for this acquisition,"
said Brian Dohmen, Head of Direct Lending & Origination at
Medley.
About Medley
Medley is an alternative asset management firm offering yield
solutions to retail and institutional investors. Medley's national
direct origination franchise is a premier provider of capital to
the middle market in the U.S. Medley has $4.8 billion of assets under management in two
business development companies, Medley Capital Corporation (NYSE:
MCC) (TASE: MCC) and Sierra Income Corporation, a credit interval
fund, Sierra Total Return Fund (NASDAQ: SRNTX) and several private
investment vehicles. Over the past 15 years, we have provided
capital to over 400 companies across 35 industries in North America.1
Medley LLC, the operating company of Medley Management Inc., has
outstanding bonds which trade on the New York Stock Exchange under
the symbols (NYSE: MDLX) and (NYSE: MDLQ). Medley Capital
Corporation is dual-listed on the New York Stock Exchange (NYSE:
MCC) and the Tel Aviv Stock Exchange (TASE: MCC) and has
outstanding bonds which trade on both the New York Stock Exchange
under the symbols (NYSE: MCV), (NYSE: MCX) and the Tel Aviv Stock
Exchange under the symbol (TASE: MCC.B1).
Investor Relations Contact:
Sam Anderson
Head of Capital Markets & Risk Management
Medley Management Inc.
212-759-0777
Media Contact:
Jonathan
Gasthalter/Nathaniel
Garnick
Gasthalter & Co.
212-257-4170
1 Medley Management Inc. is the parent company of
Medley LLC and several registered investment advisors
(collectively, "Medley"). Assets under management refers to assets
of our funds, which represents the sum of the net asset value of
such funds, the drawn and undrawn debt (at the fund level,
including amounts subject to restrictions) and uncalled committed
capital (including commitments to funds that have yet to commence
their investment periods). Assets under management are as of
September 30, 2018.
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SOURCE Medley Management Inc.