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Hercules Capital Acquires Gibraltar Business Capital, Deal Seen as Immediately Accretive

Hercules Capital ( HTGC ), a specialty finance firm, said early Monday it acquired all outstanding equity of Gibraltar Business Capital, a working capital provider for small and mid-market businesses.

Financial terms of the deal weren't disclosed.

Hercules expects its investment in Gibraltar to be immediately accretive. The investment is expected to generate a cash yield of approximately 10% to 14%, the company said in a statement.

Gibraltar will be held as a portfolio company of Hercules and will continue to operate as an independent lender. Its employees will remain at its headquarters in Northbrook, Illinois.

Gibraltar has underwritten more than $325 million in credit facilities to more than 170 borrowers since the firm's inception in 2010.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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