EX-99.2
Published on August 5, 2009
Exhibit 99.2
3700 Glenwood Ave., Ste. 530 Raleigh, NC 27612 |
TRIANGLE CAPITAL CORPORATION ANNOUNCES THE
APPOINTMENT OF NEW DIRECTOR
APPOINTMENT OF NEW DIRECTOR
RALEIGH, NC August 5, 2009, Triangle Capital Corporation (NASDAQ: TCAP) (Triangle
or the Company), a leading specialty finance company that provides customized
financing solutions to lower middle market companies located throughout the United
States, is pleased to announce that Mark M. Gambill has joined the Companys board as
an independent director. In addition to serving on the board, Mr. Gambill has been
appointed to Triangles Nominating and Corporate Governance Committee.
Mark will make an excellent addition to our board. His prior business experiences
and his deep knowledge of the lower middle market will enable Mark to make a
meaningful contribution toward Triangles goal of becoming the premier provider of
capital to the lower middle market. His experience fully meets the criteria we
established and we are very pleased he has accepted our invitation to serve,
commented Garland S. Tucker, III, President and CEO of Triangle.
Mr. Gambill is a co-founder and current Chairman of Cary Street Partners, a Richmond,
Virginia based advisory and wealth management firm. From 1972 to 1999, Mr. Gambill was
employed by Wheat First Butcher Singer (Wheat). He served as head of Wheats capital
markets group in the late 1980s, where he was responsible for investment banking,
public finance, taxable fixed income, municipal sales and trading, equity sales,
trading and research. He became President of Wheat in 1996. Wheat merged with First
Union Corporation in January 1998. Subsequent to Wheats merger with First Union, Mr.
Gambill served as President of Wheat First Union. He later was named Head of Equity
Capital Markets of Wheat First Union. He currently serves on the Board of Directors
of Speedway Motorsports, Inc. (NYSE: TRK) where he is Chairman of its audit committee
and a member of its compensation committee. Mr. Gambill is also a director of
NewMarket Corporation (NYSE: NEU) and serves on its audit committee. Mr. Gambill
graduated summa cum laude from Hampden-Sydney College.
About Triangle Capital Corporation
Triangle Capital Corporation (www.TCAP.com) is a specialty finance company organized
to provide customized financing solutions to lower middle market companies located
throughout the United States. Triangles investment objective is to seek attractive
returns by generating current income from debt investments and capital appreciation
from equity related investments. Triangles investment philosophy is to partner with
business owners, management teams and financial sponsors to provide flexible financing
solutions to fund growth, changes of control, or other corporate events. Triangle
typically invests $5.0 $15.0 million per transaction in companies with annual
revenues between $20.0 and $75.0 million and EBITDA between $2.0 and $20.0 million.
Triangle has elected to be treated as a business development company under the
Investment Company Act of 1940 (1940 Act). Triangle is required to comply with a
series of regulatory requirements under the 1940 Act as well as applicable NASDAQ,
federal and state laws and regulations. Triangle has elected to be treated as a
regulated investment company under the Internal Revenue Code of 1986. Failure to
comply with any of the laws and regulations that apply to Triangle could have a
material adverse effect on Triangle and its shareholders.
This press release may contain forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. Any such statements, other than
statements of historical fact, are likely to be affected by other unknowable future
events and conditions, including elements of the future that are or are not under the
Companys control, and that the Company may or may not have considered; accordingly,
such statements cannot be guarantees or assurances of any aspect of future
performance. Actual developments and results are highly likely to vary materially
from these estimates and projections of the future. Such statements speak only as of
the time when made, and the Company undertakes no obligation to update any such
statement now or in the future.
Contacts
Sheri B. Colquitt
Vice President, Investor Relations
919-719-4784
scolquitt@tcap.com
Vice President, Investor Relations
919-719-4784
scolquitt@tcap.com
Steven C. Lilly
Chief Financial Officer
919-719-4789
slilly@tcap.com
Chief Financial Officer
919-719-4789
slilly@tcap.com
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