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Hampshire Receives Second Dividend from Fairchild Source: Patriot Capital Funding, Inc Patriot Capital Funding Provides an Additional $3.9 Million of Financing in Support of the Recapitalization of Fairchild Industrial Products Co.
WESTPORT, Conn.--(BUSINESS WIRE)--Patriot Capital Funding, Inc. (NasdaqGS: PCAP), a specialty finance company providing flexible financing solutions to small- and mid-sized companies primarily in transactions initiated by private equity sponsors, today announced that earlier this month it closed an incremental $3.9 million in financing to support the recapitalization of Fairchild Industrial Products Co. ("Fairchild"), a portfolio company of Hampshire Equity Partners. The incremental investment was comprised of senior secured term and senior subordinated debt. In conjunction with this investment, Patriot Capital Funding received $99,000 to redeem certain shares of its preferred stock, including accrued dividends. Patriot Capital Funding's total investment in Fairchild is now $24.3 million. "We are very pleased to be able to provide continued support to Hampshire Equity Partners and its portfolio company Fairchild," said Richard Buckanavage, President and CEO of Patriot Capital Funding. "This transaction marks our third financing for Fairchild since closing the original $20.2 million transaction in mid-2005, and once again demonstrates our willingness and ability to grow with our portfolio investments over time."
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