NEW YORK,Jan. 23, 2018(GLOBE NEWSWIRE) --
Mooreland Partners (www.moorelandpartners.com) the leading independent investment bank providing M&A and private capital advisory services to growth sectors of the economy, today announced that it acted as the exclusive financial advisor to ZPower on securing a $25 million growth loan from MidCap Financial and Apollo Investment Corporation (NASDAQ: AINV).
“ZPower is a leading innovator in the area of rechargeable microbatteries which are used in a variety of consumer and medical applications. The Company’s strong growth, intellectual property, and management capabilities made it an ideal candidate for a growth loan,” said Phil Kwun, Managing Director at Mooreland Partners. “Through key additions to its senior team in the last year, Mooreland has created a strong capability to advise clients on the private debt market for growth loans at a time when companies are seeking less dilutive ways to finance predictable growth,” added Stephen Schweich, Managing Director at Mooreland Partners. Mooreland was able to complete this transaction in about 90 days.
ZPower, with headquarters and manufacturing facilities in Camarillo, California, is the world’s only developer of rechargeable silver-zinc batteries for microbattery applications. ZPower batteries deliver unmatched performance, safety, and environmental sustainability. ZPower has had rapid growth launching new rechargeable battery solutions for the hearing aid battery market and consumer wearables market. ZPower is ISO certified and its facilities and devices are registered with the FDA. For more information, visit www.zpowerbattery.com.
MidCap Financial is a middle market-focused, specialty finance firm that provides senior debt solutions to companies across all industries. MidCap provides a broad array of products intended to finance growth and manage working capital. As of December 31, 2017, MidCap Financial had $15 billion of commitments under management. Since founding in 2008, MidCap has been working with management teams and sponsors to deliver thoughtful and cost-effective debt solutions. MidCap Financial is managed by Apollo Capital Management, L.P., a subsidiary of Apollo Global Management, LLC, pursuant to an investment management agreement. For more information, visit www.midcapfinancial.com.
Apollo Investment Corporation (NASDAQ: AINV) is a closed-end investment company that has elected to be treated as a business development company under the Investment Company Act of 1940. The Company invests primarily in various forms of debt investments, including secured and unsecured debt, loan investments, and/or equity in private middle-market companies. The Company may also invest in the securities of public companies and structured products and other investments such as collateralized loan obligations and credit-linked notes. The Company seeks to provide private financing solutions for private companies that do not have access to the more traditional providers of credit. Apollo Investment Corporation is managed by Apollo Investment Management, L.P., an affiliate of Apollo Global Management, LLC, a leading global alternative investment manager. For more information, please visit www.apolloic.com.
Founded in 2002, Mooreland Partners is a leading independent investment bank providing M&A and private capital advisory services to the global technology industry, serving clients from its offices in London, New York, and Silicon Valley. Mooreland's team of over 50 professionals delivers industry domain and transaction expertise across all major technology and growth sectors including industrial electronics, enterprise software, mobile, digital media, consumer, e-commerce and fintech. Learn more at www.moorelandpartners.com; read our blog.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve risks and uncertainties, including, but not limited to, statements as to our future operating results; our business prospects and the prospects of our portfolio companies; the impact of investments that we expect to make; our contractual arrangements and relationships with third parties; the dependence of our future success on the general economy and its impact on the industries in which we invest; the ability of our portfolio companies to achieve their objectives; our expected financings and investments; the adequacy of our cash resources and working capital; and the timing of cash flows, if any, from the operations of our portfolio companies.
We may use words such as “anticipates,” “believes,” “expects,” “intends,” “will,” “should,” “may” and similar expressions to identify forward-looking statements. Such statements are based on currently available operating, financial and competitive information and are subject to various risks and uncertainties that could cause actual results to differ materially from our historical experience and our present expectations. Statements regarding the following subjects, among others, may be forward-looking: the return on equity; the yield on investments; the ability to borrow to finance assets; new strategic initiatives; the ability to reposition the investment portfolio; the market outlook; future investment activity; and risks associated with investing in real estate assets, including changes in business conditions and the general economy. Undue reliance should not be placed on such forward-looking statements as such statements speak only as of the date on which they are made. We do not undertake to update our forward-looking statements unless required by law.
All trademarks contained herein are the property of their respective owners.
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/f239ea3c-b1b5-4d71-8f35-a32f9ebaff6e
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/cc1c7fb0-e141-4824-b2be-0975dffb9c4b
Mooreland Partners US +1 212 653 0800 / UK +44 20 7484 1350 email@example.com