Purchase lender sees growth in seafood

MVC Capital Inc. a publicly traded business development company based in Purchase, announced its $8 million debt investment in Morey’s Seafood International L.L.C., a Minnesota-based manufacturer, marketer and national distributor of wholesale seafood and specialty products.

The investment was part of a refinancing by Morey’s to help fuel its growth.

James O’Connor, managing director of The Tokarz Group Advisers L.L.C., investment adviser to MVC Capital, in a press release said Morey”™s has reported strong financial results over the past few years, as it grew from a regional niche manufacturer and distributor to a nationally branded seafood company, and anticipates further business expansion.

Michael Tokarz, chairman and portfolio manager of MVC Capital, said the investment “reflects a further step in executing against our yielding strategy by partnering with strong management teams in middle-market businesses that have niche market opportunities with favorable growth potential.”