Triangle Capital Corporation Announces Senior Management and Board Change
October 18 2016 - 3:15PM
Triangle Capital Corporation (NYSE:TCAP)
(“Triangle” or the “Company”), a leading provider of capital to
lower middle market companies, announced today that its Board of
Directors has accepted the resignation of Brent P.W. Burgess as the
Company’s Chief Investment Officer and as a member of the Company’s
Board of Directors.
Commenting on Mr. Burgess’s resignation, E. Ashton Poole,
President and Chief Executive Officer, stated, “We thank Brent for
his contributions to Triangle over the years. As one of the
founders of Triangle and its predecessor company, he helped build
Triangle into a leading business development company focused on the
lower middle market. We wish him every success in his future
endeavors.”
On October 3, 2016, Triangle announced the promotions of three
senior officers, Jeffrey A. Dombcik, Cary B. Nordan and Douglas A.
Vaughn to the positions of Senior Managing Directors. In
addition, Messrs. Dombcik, Nordan and Vaughn were promoted to the
positions of Chief Credit Officer, Chief Origination Officer and
Chief Administrative Officer, respectively, and also named
Executive Officers of the Company.
About Triangle Capital Corporation
Triangle Capital Corporation (www.TCAP.com) invests capital in
established companies in the lower middle market to fund growth,
changes of control and other corporate events. Triangle
offers a wide variety of investment structures with a primary focus
on mezzanine financing with equity components. Triangle’s
investment objective is to seek attractive returns by generating
current income from debt investments and capital appreciation from
equity related investments. Triangle’s investment philosophy
is to partner with business owners, management teams and financial
sponsors to provide flexible financing solutions. Triangle
typically invests $5.0 million - $35.0 million per transaction in
companies with annual revenues between $20.0 million and $200.0
million and EBITDA between $3.0 million and $35.0 million.
Triangle has elected to be treated as a business development
company under the Investment Company Act of 1940 ("1940
Act"). Triangle is required to comply with a series of
regulatory requirements under the 1940 Act as well as applicable
NYSE, federal and state laws and regulations. Triangle has
elected to be treated as a regulated investment company under the
Internal Revenue Code of 1986. Failure to comply with any of
the laws and regulations that apply to Triangle could have a
material adverse effect on Triangle and its stockholders.
Forward Looking Statements
This press release may contain forward looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. Any such statements, other than statements of
historical fact, are likely to be affected by other unknowable
future events and conditions, including elements of the future that
are or are not under the Company's control, and that the Company
may or may not have considered; accordingly, such statements cannot
be guarantees or assurances of any aspect of future
performance. Actual developments and results are highly
likely to vary materially from these estimates and projections of
the future and some of these uncertainties are enumerated in
Triangle’s filings with the Securities and Exchange
Commission. Certain factors that could cause actual results
to differ materially from those contained in the forward-looking
statements are included in our annual reports on Form 10-K,
quarterly reports on Form 10-Q and current reports on Form 8-K,
each as filed with the Securities and Exchange Commission. Copies
are available on the SEC’s website at www.sec.gov and stockholders
may receive a hard copy of the completed audited financial
statements free of charge upon request to the Company at 3700
Glenwood Avenue, Suite 530, Raleigh, NC 27612. Such statements
speak only as of the time when made, and the Company undertakes no
obligation to update any such statement now or in the future.
Contacts
E. Ashton Poole
President & Chief Executive Officer
919-747-8618
apoole@tcap.com
Steven C. Lilly
Chief Financial Officer
919-719-4789
slilly@tcap.com
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