Triangle Capital Corporation (NYSE:TCAP), a leading provider of capital to lower middle market companies, announced today that its Board of Directors has accepted the resignation of Brent P.W. Burgess as the Company’s Chief Investment Officer and as a member of the Company’s Board of Directors.
Commenting on Mr. Burgess’s resignation, E. Ashton Poole, President and Chief Executive Officer, stated, “We thank Brent for his contributions to Triangle over the years. As one of the founders of Triangle and its predecessor company, he helped build Triangle into a leading business development company focused on the lower middle market. We wish him every success in his future endeavors.”
On October 3, 2016, Triangle announced the promotions of three senior officers, Jeffrey A. Dombcik, Cary B. Nordan and Douglas A. Vaughn to the positions of Senior Managing Directors. In addition, Messrs. Dombcik, Nordan and Vaughn were promoted to the positions of Chief Credit Officer, Chief Origination Officer and Chief Administrative Officer, respectively, and also named Executive Officers of the Company.
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 – $35.0 million per transaction in companies with annual revenues between $20.0 million and $200.0 million and EBITDA between $3.0 million and $35.0 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.