MVC Capital Completes Sale of Centile Holdings B.V. to VOIP Holdings GmbH
03 August 2018 - 6:30AM
MVC Capital, Inc. (NYSE:MVC) ("MVC" or the "Fund") announced
today the completed sale of Centile Holdings B.V. (“Centile”), a
leading European developer of unified communications and
fixed-mobile convergence platforms for operators and integrators,
to VOIP Holdings GmbH.
As a result of the sale, MVC received cash proceeds of
approximately $5.8 million at closing. An additional $1.2 million
of proceeds are to be held in escrow for 15 months from the
closing. Assuming the full receipt of all escrow proceeds,
the monetization of Centile results in a realized gain of $3.5
million, or an approximate 2X return on its initial
investment.1
“The completed sale of Centile reflects continued progress in
executing against the Fund’s strategy to monetize its remaining
equity investments and redeploy proceeds into yielding
investments,” said Michael Tokarz, Chairman and Portfolio Manager
of MVC Capital, Inc. “We are actively reviewing our portfolio for
additional equity monetizations to further supplement the growth of
our yielding investments and distributions to our
shareholders.”
Q Advisors, a global TMT investment banking boutique, acted as
the exclusive financial advisor to Centile in connection with the
transaction.
MVC-G
About MVC Capital,
Inc.
MVC Capital (MVC) is a business development company traded on
the New York Stock Exchange that provides long-term debt
and equity investment capital to fund growth, acquisitions and
recapitalizations of companies in a variety of industries. For
additional information about MVC, please visit MVC's website
at www.mvccapital.com.
Safe Harbor Statement and Other Disclosures
PAST PERFORMANCE IS NO GUARANTEE OF FUTURE RESULTS.
The information contained in this press release contains
forward-looking statements. These forward- looking statements are
subject to the inherent uncertainties in predicting future results
and conditions. Certain factors could cause actual results and
conditions to differ materially from those projected in these
forward-looking statements, including: MVC
Capital's ability to deliver value to all shareholders and
execute its yield investment strategy, including enhancing its
yield; the ability to redeploy capital into yield investments; the
ability to monetize equity investments; the ability to pay and grow
MVC distributions and changes in economic or financial market
conditions and other factors that are enumerated in the Company’s
periodic filings with the Securities and Exchange Commission.
All investments are speculative, involve significant risk and are
subject to a loss of principal and/or interest. MVC Capital
disclaims and does not undertake any obligation to update or revise
any forward-looking statement in this press release.
This press release is for informational purposes only and is not
an offer to purchase or a solicitation of an offer to sell shares
of MVC's common stock.
Investor Relations Contacts
Jackie Rothchild MVC Capital 914.510.9400
Or
Jeffrey Goldberger / Allison Soss KCSA Strategic
Communications 212.896.1249 / 212.896.1267
1 The amounts shown above at closing and after the escrow period
are net of transaction fees and expenses and based on the exchange
rate on July 31, 2018. The escrow proceeds remain subject to
currency fluctuations.
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