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FSIC Provides More Than $398MM in Recent Transactions

October 21, 2013, 08:03 AM

FS Investment Corporation ("FSIC"), a business development company focused primarily on investing in the debt securities of private U.S. companies, announced today that it committed over $398 million toward proprietary investments in middle market companies during the months of August and September.

FSIC made proprietary commitments to seven portfolio companies, which included senior secured loan, subordinated debt and equity investments. In connection with the terms negotiated for select commitments, FSIC received upfront fees and other economic benefits. The originations in which FSIC invested during the months of August and September include the following:

  • $47 million senior secured loan to Keystone Automotive Operations, Inc., an international wholesale distributor and marketer of aftermarket automotive parts, and a portfolio company of Platinum Equity, LLC;
  • $20 million senior secured loan to OneStopPlus Group, a leading catalog and online fashion retailer for plus-size consumers, and a portfolio company of Charlesbank Capital Partners and Webster Capital; and
  • $20 million senior secured loan to MetoKote Corporation, a global provider of outsourced custom coating services and solutions to a variety of industrial end markets, and a portfolio company of Platinum Equity, LLC.

 

"We are excited to make seven new proprietary investments diversified across a wide variety of industries and subsectors. We expect to continue to increase FSIC's proprietary investment portfolio going forward, which we believe will help position the fund for a successful potential listing on a national securities exchange," said Michael C. Forman, Chairman and Chief Executive Officer of FSIC.

FSIC, an investment fund sponsored by Franklin Square Capital Partners ("Franklin Square"), is a publicly registered, non-traded BDC.







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