Triangle Capital Corp. Finalizes Inland Pipe Acquisition
April 1, 2009
Triangle Capital Corp. (Nasdaq: TCAP), a leading specialty finance company that provides customized financing solutions to lower middle market companies located throughout the United States, announced Feb. 11 that it closed a $3.8 million subordinated debt and warrant investment in Inland Pipe Rehabilitation Holding Co. (Inland Pipe), according to the Globe Newswire. Triangle’s investment was made in support of an acquisition and represents the company’s second investment in Inland Pipe. In June, 2008, Triangle invested $8 million in subordinated debt and received a warrant to purchase up to 2.5 percent of Inland Pipe’s membership interests. Inland Pipe provides maintenance, inspection and repair for piping, sewers, drains and storm lines by utilizing several of the industry’s leading technologies including pipe bursting, cured-in-place pipe and spiral wound piping.
