MCG Capital Corporation (Nasdaq: MCGC) ("MCG" or the "Company") today
announced the completion of a successful 8 year investment relationship
with Jenzabar, Inc., a leading provider of software, services and
strategies for higher education.
MCG became a financial partner of Jenzabar in 2004 after recognizing the
company as an upcoming leader in the higher education industry with
strong market position and an impressive strategic vision. Over the last
several years, Jenzabar has continued to capture significant market
share and secured a solid financial position that supports the company's
"As previously reported, Jenzabar represented one of the most favorable
investment results in the MCG portfolio of companies," said Rick Neu,
CEO of MCG. "Jenzabar has been led by a strong management team and
directors who have performed with the highest levels of integrity and
wise judgment. We congratulate the Jenzabar team for consistently
delivering outstanding software and services to its clients and
achieving market leadership."
"We thank Rick Neu for his support and look forward to continuing our
progress in achieving financial leadership. The Jenzabar Board Members,
management team, and staff have worked hard to deliver superior results
for our shareholders and help provide our clients with the lowest
possible cost of ownership," said Robert A. Maginn, Jr., Jenzabar
Chairman and Chief Executive Officer. "We are thrilled to now rank as
higher education's leading software and services provider with one of
the two largest installed bases of customers in our market. With our
focus in higher education along with our industry-leading financial
position, we assure our customers a stable and long-standing partnership
they can count on."
About MCG Capital Corporation
MCG Capital Corporation is a solutions-focused commercial finance
company providing capital and advisory services to middle-market
companies throughout the United States. Our investment objective is to
achieve current income and capital gains. Our capital is generally used
by our portfolio companies to finance acquisitions, recapitalizations,
buyouts, organic growth and working capital. For more information,
please visit www.mcgcapital.com.
About Jenzabar, Inc.
Jenzabar, Inc. is a leading provider of enterprise software and services
developed exclusively for higher education. With more than 40 years of
combined experience offering technology solutions to colleges and
universities, Jenzabar is the trusted partner of choice to more than 700
campuses worldwide, including private liberal arts, state, and community
colleges and business, medical, law and other graduate schools. Jenzabar
is headquartered in Boston, Massachusetts, with regional offices located
across the United States. For further information, please visit www.jenzabar.com.