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Triangle Capital Corporation Invests $12.0 Million in Parts Now!, LLC
RALEIGH, N.C., Sept., 2012 – Triangle Capital Corporation, a leading provider of capital to lower middle market companies located throughout the United States, announced today that it closed a $12.0 million investment in Parts Now!, LLC ("Parts Now") consisting of subordinated debt and equity. Parts Now distributes original equipment manufacturer and aftermarket printer parts to service companies that repair printers and office equipment.
About Triangle Capital Corporation
Triangle Capital Corporation (www.TCAP.com) invests capital in established companies in the lower middle market to fund growth, changes of control and other corporate events. Triangle offers a wide variety of investment structures, and specializes in mezzanine financing with equity components. Triangle’s investment objective is to seek attractive returns by generating current income from debt investments and capital appreciation from equity related investments. Triangle’s investment philosophy is to partner with business owners, management teams and financial sponsors to provide flexible financing solutions. Triangle typically invests $5.0 million – $25.0 million per transaction in companies with annual revenues between $20.0 million and $200.0 million and EBITDA between $3.0 million and $20.0 million.Triangle has elected to be treated as a business development company under the Investment Company Act of 1940 ("1940 Act"). Triangle is required to comply with a series of regulatory requirements under the 1940 Act as well as applicable NYSE, federal and state laws and regulations. Triangle has elected to be treated as a regulated investment company under the Internal Revenue Code of 1986. Failure to comply with any of the laws and regulations that apply to Triangle could have a material adverse effect on Triangle and its stockholders.
http://www.counterpointcp.com/meet-the-team
Who is CounterPoint Capital Partners ?Meet The Team
Managing Partners
Chris M. Iorillo
Mr. Iorillo is CounterPoint’s deal execution professional and is primarily responsible for structuring and executing all investments.
Prior to founding CounterPoint, Mr. Iorillo spent twelve years working on mergers and acquisitions, most recently as Vice President of Strategic Operations for Abraxis BioScience, LLC, a NASDAQ-listed pharmaceutical company where he sourced, structured, negotiated and monitored the personal investment activity of the company’s founder, Patrick Soon-Shiong (Forbes Richest Americans #65).
Stephen E. Rossi
Mr. Rossi is CounterPoint’s capital markets expert and is primarily responsible for all debt-related activities for CounterPoint and its portfolio of companies.
Prior to founding CounterPoint, Mr. Rossi spent fourteen years as a commercial finance executive, most recently as Managing Director and Vice President of Corporate Finance at Platinum Equity where he arranged in excess of $8 billion in committed financings for target acquisitions and ongoing working capital.
Eric M. Willis
Mr. Willis is CounterPoint’s finance expert and is primarily responsible for financial and operational diligence on all acquisition targets as well as overseeing post-acquisition transitioning of newly acquired portfolio companies.
Prior to founding CounterPoint, Mr. Willis spent over a decade working in financial services and private equity investments, most recently as a Vice President at Platinum Equity in its lower middle-market group where he was responsible for screening potential transactions, leading financial and operational due diligence, and financing and structuring transactions.
Matthias Heilmann
Matthias Heilmann joined the Firm in 2012 as an operating partner after seven years with Platinum Equity. During his tenure at Platinum, he worked with numerous portfolio companies across a variety of industries, sourced and evaluated new investment opportunities, and led multiple turnaround assignments.
Most recently, he served as Executive Vice President and Chief Operating Officer of Ryerson Inc., a Platinum Equity portfolio company, and a leading metal distribution and service company with $5 billion of sales and operations in North and South America as well as China. He was assigned by Platinum Equity to lead the transformation, direct the company on a path for profitable growth, and was responsible for the successful turnaround of the company. Before joining Ryerson, Matthias Heilmann was a Vice President and Operating Partner at Platinum Equity.
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