Saratoga Investment Corp. is a business development company that focuses on the lower end of middle market companies. It invests in leveraged and management buyouts, acquisition financings, growth financings, recapitalizations, debt refinancings, and transitional financing transactions. The fund structures its investments as debt and equity, including first and second lien loans, mezzanine debt, co-investments, select high yield bonds, senior secured bonds, unsecured bonds, and preferred and common equity. It prefers to invest in aerospace, automotive aftermarket and services, business products and services, consumer products and services, education, environmental services, industrial services, financial services, food and beverage, healthcare products and services, logistics, distribution, manufacturing, restaurants services, food services, software services, technology services, specialty chemical, media and telecommunications. The fund seeks to invest in the United States. It primarily invests between $60 million and $75 million in companies with EBITDA of $2 million or greater and revenues between $10 million and $150 million. It targets annual revenues between $8 million and $250 million. The fund prefers to take a majority stake and invests through direct lending as well as participation in loan syndicates.
USA