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Sierra Income Corporation Supports Impact Sales’ Acquisition of Harlow-HRK Sales & Marketing, Inc.

January 26, 2017

Sierra Income Corporation Supports Impact Sales’ Acquisition of Harlow-HRK Sales & Marketing, Inc.

January 23, 2017 | Business Wire

NEW YORK–(BUSINESS WIRE)–Sierra Income Corporation, a business development company that makes senior secured investments in U.S. middle market companies, and its affiliate Medley Management Inc. (“Medley”), announced today that it provided a senior secured first lien term loan to facilitate the acquisition by Impact Sales, LLC (“Impact Sales”) of Harlow-HRK Sales & Marketing, Inc. (“Harlow”). Impact Sales is a current portfolio company of CI Capital Partners LLC.

Headquartered in Dayton, Ohio, Harlow is a leader in providing sales, marketing, analytical, and retail support to manufacturers of grocery, natural, multicultural, and drug & general merchandise items. Harlow provides services exclusively through The Kroger Co. network.

“Medley was a great partner throughout the transaction, providing us with certainty of closing and a flexible capital structure that will allow the company to capitalize on what we believe are excellent growth prospects,” said Tim Hall, Managing Director of CI Capital Partners LLC.

“We are pleased to have formed a partnership with CI Capital Partners on the acquisition financing for Harlow,” said Jeff Tonkel, President of Sierra Income Corporation. “We look forward to continuing to work with CI Capital Partners on this and other opportunities.”

About Sierra Income Corporation

Sierra is a non-traded business development company that invests primarily in first lien senior secured debt, second lien secured debt and, to a lesser extent, subordinated debt of middle market companies in a broad range of industries with annual revenue between $50 million and $1 billion. Sierra’s investment objective is to generate current income, and to a lesser extent, long-term capital appreciation. Sierra is externally managed by SIC Advisors LLC, which is an investment adviser registered under the Investment Advisers Act of 1940, as amended. For additional information, please visit Sierra Income Corporation at www.sierraincomecorp.com.

About SIC Advisors LLC

SIC Advisors LLC is an affiliate of Medley Management Inc. (NYSE: MDLY, “Medley”). Medley is a credit-focused asset management firm offering yield solutions to retail and institutional investors. Medley’s national direct origination franchise, with over 85 people, is a premier provider of capital to the middle market in the U.S. As of December 31, 2016, Medley had in excess of $5.3 billion of assets under management in two business development companies, Medley Capital Corporation (NYSE: MCC) and Sierra Income Corporation, as well as private investment vehicles. Over the past 14 years, Medley has provided in excess of $6 billion of capital to over 350 companies across 35 industries in North America. For additional information, please visit Medley Management Inc. at www.mdly.com.

Medley LLC, the operating company of Medley Management Inc., has outstanding bonds which trade on the NYSE under the symbols (NYSE: MDLX) and (NYSE:MDLQ). Medley Capital Corporation (NYSE: MCC) has outstanding bonds which trade on the NYSE under the symbols (NYSE: MCQ), (NYSE: MCV), and (NYSE: MCX).

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the federal securities laws and regulations. These forward-looking statements are identified by their use of terms and phrases such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “should,” “will” and other similar terms and phrases, including references to assumptions and forecasts of future results. Forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that may cause the actual results to differ materially from those anticipated at the time the forward-looking statements are made. Although Sierra believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that the expectations will be attained or that any deviation will not be material. Sierra undertakes no obligation to update any forward-looking statement contained herein to conform the statement to actual results or changes in Sierra’s expectations.

Contacts

Investor Relations Contact:
Medley Management Inc.
Sam Anderson
Head of Capital Markets & Risk
212-759-0777
or
Media Contact:
Fitzroy Communications
Liz Bruce
212-498-9197

 

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