Triangle Capital Corporation made an announcement today about a $14.8 million investment it has poured into Justrite Manufacturing Company LLC. The amount comprised of subordinated debt and equity, according to MarketWatch.
Justrite is a company that designs and manufactures products used to store and handle hazardous materials. The firm also supplies devices for containing oil spills and other materials for environmental protection, the report detailed.
Triangle Capital is a growth capital provider for lower to middle market companies. The firm has various investment offerings but mainly focuses on mezzanine financing. The company aims to gain returns through debt investments and capital gain from other equity investments, the report explained.
Partnering with business owners, investors, and management teams are among the investment philosophies of Triangle. Through these strategies, the company is able to provide flexible funding solutions. Triangle usually invests between $5 million and $35 million in every transaction. The firm typically chooses to invest in companies with yearly revenue range of $20 million to $200 million, MarketWatch reported.
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