PURCHASE, N.Y., Aug. 02, 2018 (GLOBE NEWSWIRE) -- MVC Capital, Inc. (NYSE:MVC) announced today the completed sale of Centile Holdings B.V., 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.
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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.
