Trinity and FPH Get THL Backing

THL Credit has backed the acquisition of Trinity Services by an affiliate of H.I.G. Capital. THL Credit and its managed fund, THL Credit Greenway Fund, provided senior subordinated debt capital as part of the acquisition. Trinity is a provider of outsourced foodservice programs and commissary services for a wide range of private, state and local correction facilities in the United States. THL Credit has also announced the refinancing of its investment in Food Processing Holdings. Headquartered in Albertville, Alabama, FPH is a portfolio company of H.I.G.

PRESS RELEASE

THL Credit today announced that it participated in the financing for the acquisition of Trinity Services Group, Inc. (“Trinity”) by an affiliate of H.I.G. Capital, LLC (“H.I.G.”). THL Credit and its managed fund, THL Credit Greenway Fund LLC, provided senior subordinated debt capital as part of the acquisition.

Founded in 1990, Trinity is a provider of outsourced foodservice programs and commissary services for a wide range of private, state and local correction facilities in the United States.

“With its strong reputation and a nationwide presence, Trinity is well positioned in the large, outsourced correctional foodservices market. Trinity is an industry pioneer and we look forward to being part of its continued success,” said Sam Tillinghast, co-president of THL Credit.

Separately, THL Credit announced the refinancing of its investment in Food Processing Holdings, LLC (“FPH”) in support of FPH’s acquisition of Sunrise Foods, LLC (“Sunrise”), an in market competitor and poultry further processor. THL Credit and its managed fund, THL Credit Greenway Fund LLC, provided senior subordinated debt capital as part of the acquisition.

FPH, a portfolio company of H.I.G., is headquartered in Albertville, Alabama. Through its Albertville Quality Foods and Southern Quality Meats subsidiaries, FPH is a leading provider of customized, high-quality protein processing services for national and regional restaurant chains and the foodservice and retail channels.

“The acquisition of Sunrise adds scale, diversification, complimentary capabilities and customers to FPH, and positions the company as one of the largest pure-play poultry further processors in the U.S. We are pleased to increase our investment in FPH,” said Sam Tillinghast, co-president of THL Credit.

About THL Credit

THL Credit is an externally-managed, non-diversified closed-end management investment company that has elected to be treated as a business development company (BDC) under the Investment Company Act of 1940. THL Credit’s investment objective is to generate both current income and capital appreciation, primarily through investments in privately negotiated debt and equity securities of middle market companies.

THL Credit is headquartered in Boston, with additional investment teams in Los Angeles and Houston. THL Credit invests primarily in junior capital securities, including subordinated debt and second lien secured debt, which junior capital may include an associated equity component such as warrants, preferred stock or other similar securities. THL Credit may also selectively invest in first lien secured loans. THL Credit targets investments in middle market companies with annual revenues of between $25 million and $500 million that require capital for growth and acquisitions. THL Credit’s investment activities are managed by THL Credit Advisors LLC, an investment adviser registered under the Investment Advisers Act of 1940.

SOURCE: THL Credit, Inc.