$6.860
+0.259 (+3.78%)Al cierre
Noticias de NMFC
Eventos de NMFC
New Mountain Finance Extends Stock Repurchase Program to 2027
New Mountain Finance authorized an extension of its stock repurchase program. Pursuant to the repurchase program, the company can repurchase up to $150M worth of its common stock at the discretion of NMFC's management team. The Repurchase Program was set to expire on December 31, 2026, but the board elected to extend the repurchase program through December 31, 2027. To date, approximately $70M worth of repurchases have been made by the company under the repurchase program.
UniTek Appoints Pete Sandore as CEO
UniTek Global Services announced the appointment of Pete Sandore as CEO. He previously served as Chairman of UniTek's Power Infrastructure Services Division. Sandore will lead UniTek's strategic initiatives and oversee all operational and commercial functions as the Company continues to expand its market presence and enhance service delivery across its customer base. He succeeds Charlie Smith, who led the business since September 2021 and is retiring from his executive role. Mr. Smith will remain with the Company as an advisor to support the transition and provide ongoing strategic guidance. Alongside Mr. Sandore's appointment, UniTek announced a series of leadership updates to drive the Company's growth plans: Derek Hutchins, formerly President and COO, will be named President and CEO of UniTek's Telecom Infrastructure Services Division. Steve Sarno, who joined UniTek through the acquisition of Concurrent Utility Services LLC, will be named President and CEO of UniTek's Power Infrastructure Services Division. Cody Gallarda joined the Company as CFO, with oversight of finance across the enterprise. He brings more than two decades of finance leadership experience in infrastructure services businesses.
NMFC Reports Q2 Net Asset Value of $10.89 per Share
Reports net asset value of $10.89 per share compared to $10.92 per share as of March 31. The company said, "Our second quarter results reflect stable NAV and solid credit performance across the portfolio. We believe NMFC remains undervalued, with a dividend yield of 15% based on Friday's closing share price. Our insider ownership now represents 18% of shares outstanding, demonstrating our confidence in the Company's long-term value."
UniTek Acquires Concurrent Utility Services
UniTek Global Services announced the acquisition of Concurrent Utility Services, a specialty infrastructure services company focused on power grid modernization and connectivity. The transaction marks a significant milestone for UniTek's Power Services Division, which launched in July 2025 to broaden the Company's maintenance, repair, upgrade, and new infrastructure development services for the power sector. Financial terms were not disclosed. The acquisition positions UniTek to capitalize on growing demand for resilient and modernized power infrastructure across the United States. Concurrent's established regional footprint in the Southeast, safety-first mentality, and experienced workforce enhance UniTek's strong operating platform and will be a foundation for continued growth. Concurrent provides infrastructure development and maintenance services to electric utilities, telecom providers, and land developers throughout the Southeast United States. Concurrent's service offering spans overhead and underground power, emergency service restoration, environmental services, and data center development-capabilities that directly complement UniTek's existing broadband and data center infrastructure platform. UniTek Power Services will continue to seek opportunities to deliver high-quality, efficient, and innovative power infrastructure services across the country. Concurrent will continue to operate under its established brand, maintaining uninterrupted service for its customers.
New Mountain Capital Completes ~$470 Million Portfolio Sale
"In the first quarter, NMFC delivered stable earnings and completed the ~$470 million portfolio sale," said Steven B. Klinsky, NMFC's Chairman and New Mountain Capital CEO. "We are using the proceeds from the sale to de-lever the balance sheet, buy back stock at a significant discount to book value and reinvest into attractive new investments in the primary and secondary market." John R. Kline, NMFC CEO, added: "NMFC continued to enhance the portfolio quality in the first quarter, materially reducing PIK exposure and improving diversification and asset mix. Excluding the impact from the portfolio sale, NMFC's book value declined modestly in the quarter, primarily reflecting broader market movements in software and technology-oriented loans impacting the BDC sector. We remain focused on further portfolio enhancements throughout the balance of the year."
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