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Prospect Capital Provides $38.2MM to Support Total Fleet Solutions Merger

December 19, 2012, 08:02 AM

Prospect Capital provided a $38.2 million first-lien senior secured loan to support the merger of Total Fleet Solutions (TFS), controlled by CI Capital Partners, with The Miner Corporation to form a top provider of facilities services and asset management solutions for retail, distribution, manufacturing, health care, and hospitality companies.

This combination creates the largest one-stop shop in the marketplace for on-site maintenance, on-call repair service, planned maintenance support, and lifecycle management solutions for a broad range of assets, including material handling equipment, mobile industrial equipment, doors, docks, and waste management equipment.

"We selected Prospect as our key capital relationship to support the Company with a flexible, creative, and responsive financing structure," said Timothy T. Hall, managing director of CI Capital.

"Prospect is thrilled to support CI Capital again by providing additional capital in this important transaction for the growth and recapitalization of this differentiated material handling company," said David Moszer, a managing director of Prospect Capital Management.

Prospect Capital Corporation is a closed-end investment company that lends to and invests in private and microcap public businesses.

CI Capital Partners LLC is a North American private investment firm focused on building and expanding leading middle market businesses.

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