Prospect Capital Announces Sale of Valley Electric to MYR Group for Expected Gross Proceeds of $328 Million, Achieving a 4.8x Multiple of Invested Capital to Prospect Over Investment Lifetime
Prospect Capital Corporation announced the sale of its portfolio company, Valley Electric, to MYR Group for approximately $328 million. This transaction marks a successful exit, yielding a 20.4% annualized IRR and a 4.8x multiple on invested capital since Prospect's initial investment in 2012. Valley Electric, a key provider of electrical solutions…