New York’s Prospect Capital Corp. purchased $31 million of first lien senior secured floating rate notes for the recapitalization of Collections Acquisition Co. Inc., dba Payliance. Founded in 2009 and headquartered in Columbus, Payliance provides solutions for payments processing, payments recovery, and risk management.
Payliance is a portfolio company of Serent Capital, a lower-middle market PE firm focused on investing in high growth service and technology businesses. Founded in 2008, Serent has offices in San Francisco and Austin, Texas.
Prospect Capital Corp. is a business development company that focuses on lending to and investing in private businesses. Prospect’s investment objective is to generate both current income and long-term capital appreciation through debt and equity investments.