Sarasota, Fla. and Superior, Co. -- July 10, 2013 – Miles Media Group, LLC., is pleased to announce it has completed an equity buy-back this week with the assistance of MCG Capital Corporation (Nasdaq: MCGC) (“MCG”). Under the transaction, the Miles management team, led by Roger Miles, acquired an additional 15% of its equity, with the funding provided by MCG. Upon completion of the transaction, Miles is now 95% management owned, with the additional five percent held by an original angel equity investor, who's been with the company for 23 years.
"We are very excited to be a strategic partner in Roger Miles' company and his management team's thoughtful approach to buy back their equity," stated Hagen Saville, MCG President. "Our relationship with Roger goes back 15 years. This is not the first time we've helped Miles fund an equity buy-back and this simply confirms our confidence in their future, and in their leadership, as the world's foremost authority in destination and hotel marketing." "Twenty-three years ago when I launched this company I did it with $22,000 in cash and private equity support," explained Roger Miles, President and CEO of Miles Media Group, LLC. "I am proud of our track record of providing those investors with a positive return as we bought back that equity through the years with MCG's support." About Miles With nearly 80 clients around the world, Miles markets destinations and hospitality businesses by working with national and state tourism offices, convention & visitors bureaus, hotels and other organizations in the tourism industry to create forward thinking online, mobile, email and print content marketing solutions. 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.