Sullivan Client Alcentra Capital Corp. Acquired by Crescent Capital BDC
Led by John Chilton and David Leahy, a Sullivan team advised the Independent Directors of Alcentra Capital Corp. (Nasdaq: ABDC) in connection with its $142 million acquisition by Crescent Capital BDC.
For Alcentra, the deal was part of the company's strategic review process, and will grow the firm into the upper middle-market, beyond its traditional middle-market range of businesses with $15 million to $75 million in Ebitda. "We are now in a much stronger position and, through the combination with Crescent BDC, will create a larger BDC with a highly complementary portfolio that offers immediate additional value for our stockholders," said Alcentra CEO Suhail Shaikh.
The full press release can be viewed here.