BC Partners-backed Portman Ridge Finance completed the merger with Garrison Capital in a $64m deal.

BC Partners-backed Portman Ridge Finance, a publicly traded, externally managed investment company, completed the merger with Garrison Capital, a publicly traded business development company, in a $64m deal. "After a robust and thorough strategic alternatives process conducted by the Board of Directors, we believe this transaction is an excellent result for the GARS stockholders, along with continuing the growth objective and value creation for PTMN stockholders. In addition to a significant cash consideration component, we believe the continued ownership of PTMN stock and their affiliation with the BCP Credit team and the overall BC Partners platform will provide stockholders with enhanced value and significant future upside," Joseph Tansey, Garrison Capital Chairman and CEO.