RALEIGH, N.C., June 4, 2013 (GLOBE NEWSWIRE) -- Triangle Capital Corporation (NYSE:TCAP) ("Triangle" or the "Company"), a leading provider of capital to lower middle market companies located throughout the United States, is pleased to announce that E. Ashton Poole will join the Company as President and Chief Operating Officer (COO) and as a member of the Company's Board of Directors, effective July 22, 2013. Mr. Poole will serve as a member of Triangle's Management & Investment Committees along with Garland S. Tucker, III, Chairman & Chief Executive Officer, Brent P.W. Burgess, Chief Investment Officer, and Steven C. Lilly, Chief Financial Officer.
Mr. Poole, a Raleigh native, brings more than two decades of strategy consulting, investment banking, and management experience to Triangle. For the past nineteen years Mr. Poole has worked at Morgan Stanley, where he was based in New York and served as a Managing Director in both the Power & Utility and Diversified Industrial Groups. During his time at Morgan Stanley Mr. Poole has advised clients throughout the United States in connection with merger & acquisition and capital raising transactions, including equity offerings, debt offerings, recapitalizations and leveraged buyouts. Prior to joining Morgan Stanley, Mr. Poole worked for three years as a strategy consultant with Gemini Consulting, where he was a generalist and advised companies primarily on strategic and financing matters.
Mr. Poole earned a BS in Business Administration from the University of North Carolina at Chapel Hill and a MBA from the Kellogg School of Management at Northwestern University.
"Ashton's background in senior level corporate strategy, investment banking, and consulting is a great professional fit with Triangle's senior team," commented Garland S. Tucker, III. "His broad industry exposure, extensive underwriting and analytical experience and deep institutional relationships will be invaluable as we continue to build upon our track record of disciplined growth and value creation for our shareholders. Furthermore, as a Raleigh native, Ashton has a unique understanding of Triangle's culture and is an outstanding personal fit. We are very excited to have him join the Triangle team as President and COO."
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 - $30.0 million per transaction in companies with annual revenues between $20.0 million and $200.0 million and EBITDA between $3.0 million and $25.0 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.
Source:Triangle Capital Corporation