ARLINGTON, Va., Dec. 20 /PRNewswire-FirstCall/ -- MCG Capital Corporation (Nasdaq: MCGC) today announced a second lien debt and preferred equity investment to support the acquisition of Gould & Lamb, LLC by ABRY Partners LLC.
Gould & Lamb is a medical-financial services company that is unique to the workers' compensation industry. The company has been successfully producing Medicare Set-Asides (MSAs) for the workers' compensation industry since 2001. Having completed in excess of 40,000 MSAs, Gould & Lamb is the nation's largest, most experienced MSA specialist. Gould & Lamb is currently the vendor of choice for 20 of the top 25 national carriers and is the preferred or exclusive MSA provider for a number of TPAs, self-insured entities, defense attorneys, plaintiff attorneys and structured settlement brokers.
Steve Palmer, Chief Financial Officer, of Gould & Lamb, said, "MCG worked diligently to meet a very tight timeframe, was flexible in their approach to the business and will be a true partner going forward."
Roger Marrero, Principal at ABRY Partners, said, "MCG was a good partner in helping us consummate the acquisition of Gould & Lamb and was very responsive in meeting our tight timeframe."
Michael McHugh, Managing Director at MCG Capital, said, "Gould & Lamb is the leading provider in the MSA industry, which has grown significantly over the past five years. We are excited about the company's prospects and eager to work with the management team and ABRY going forward."
About MCG Capital Corporation
MCG Capital Corporation is a solutions-focused commercial finance company providing capital and advisory services to middle market companies throughout the United States. Our investment objective is to achieve current income and capital gains. Our capital is generally used by our portfolio companies to finance acquisitions, recapitalizations, buyouts, organic growth, and working capital. For more information, please visit http://www.mcgcapital.com.
|SOURCE MCG Capital Corporation|
Copyright©2007 PR Newswire.
All rights reserved