Prospect Capital Provides $26.5 Million in Senior Secured Financing

Prospect Capital Corporation PSEC announced today that Prospect has made a senior secured debt investment of $26.5 million to support the acquisition of ST Products by Quilvest Private Equity and Malakand Capital. Headquartered in Duncansville, Pennsylvania, STP is the leading North American producer of precision redrawn, small diameter, thin wall copper, and specialty alloy tubes. STP is the technical and service leader in its industry, with leading market share in its end markets and a reputation for exceptional technical capabilities, product quality, and delivery reliability. "ST Products has a compelling value proposition and proven business model," said Benton Cummings, a Managing Director of Prospect Capital Management. "We are excited to provide financing to support the company's next phase of growth." Separately, Prospect provided $24 million in first lien senior secured financing for the recapitalization of a leading company in the technology accessory industry.