Prospect Lends Support to PE-Backed Arctic Glacier's Recap

U.S.-based private debt and equity firm Prospect Capital Corp. has provided a US$150 million senior secured term loan in support of the recapitalization of Arctic Glacier Inc., a producer, marketer, and distributor of high-quality packaged ice to consumers. The recapitalization is intended to help the company to pursue acquisitions and organic growth initiatives. The Winnipeg, Manitoba-based Arctic Glacier was bought out of bankruptcy by private equity firm HIG Capital for $449 million in 2012.

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