NEW YORK--(BUSINESS WIRE)--Harvest Capital Credit Corporation (“Harvest”) exited its $4.3 million investment in Americana Holdings, LLC (“Americana”), a provider of real estate services and transaction support across a network of real estate brokerage offices. Harvest was repaid at par and in addition received prepayment fees and monetized the equity linked security as part of this transaction. The investment provided Harvest an internal rate of return of 35.7%. This exit represents Harvest’s 15th exit since inception.
Americana’s Chief Executive Officer, Mark Stark, stated, “Meeting Harvest in 2013 gave me the capital to buy-back all my equity and grow my company. They are respectful to an owner’s entrepreneurial expertise and are able to move quickly and efficiently in supporting important initiatives.”
We are very pleased with the outcome generated by the Americana transaction. Harvest appreciated the opportunity to work with Mark Stark as part of his important recapitalization and growth initiative in 2013. During the tenure of Harvest’s loan, Americana was able to grow its agent base by roughly 43%. We wish Mark and his team continued future success growing their business.
About Harvest Capital Credit Corporation
Harvest Capital Credit Corporation (NASDAQ:HCAP) provides customized financing solutions to privately held small and mid-sized companies in the U.S., generally targeting companies with annual revenues of less than $100 million and annual EBITDA of less than $15 million. The company’s investment objective is to generate both current income and capital appreciation primarily by making direct investments in the form of subordinated debt, senior debt and, to a lesser extent, minority equity investments. Harvest Capital Credit Corporation is externally managed and has elected to be treated as a business development company under the Investment Company Act of 1940.