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Announced

Completed

Barings BDC completed the acquisition of MVC Capital for $178m.

Financials

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Transaction Value£135m
Consideration TypeOrdinary Shares, Cash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium21%
One Off Charge-

Tags

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Merger

Single Bidder

Acquisition

Friendly

Majority

Private Equity

United States

Public

business development

investment company

Domestic

Completed

Private Equity

Synopsis

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Barings BDC, a publicly traded, externally managed investment company, completed the acquisition of MVC Capital, a business development company traded on the New York Stock Exchange, for $178m. "We are pleased to merge with Barings BDC as we believe that the combination of the complementary portfolios together forming a larger-scale BDC with increased investment capacity and portfolio diversification will offer all shareholders a strong platform for long-term growth. MVC has made significant progress in transitioning to a yield-focused BDC, building its net operating income over the past few years. Our success makes this an opportune time to enjoy greater scale, cost synergies and continued shareholder alignment," Michael T. Tokarz, MVC Capital Chairman and Portfolio Manager.

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