Triangle backs a military staffing company

The $15 million investment in Merlin RAMCo. is a combination of unitranche debt and equity.

Triangle Capital Corporation, the Raleigh, North Carolina-based lender and BDC, has closed on a $15 million investment in Merlin RAMCo. The investment consisted of unitranche debt and equity, Triangle announced on Tuesday (14 October).

Merlin RAMCo is a provider of specialty staffing services to military and civilian offices to support manned and unmanned aircraft programs. The company is based in Jacksonville, Florida.

Triangle Capital provides capital to lower mid-market companies to fund growth, changes of control and other corporate events. The firm offers a variety of investment structures, with a primary focus on mezzanine financing with equity components. Triangle typically invests $5 million to $35 million per transaction in companies with annual revenues of between $20 million and $200 million and EBITDA ranging from $5 million to $35 million.