ITEL GOLD Facility

Golub Capital today announced that it has provided The Riverside Company with a GOLD facility and an equity co-investment in support of the firm's acquisition of ITEL Laboratories, Inc. ITEL (Independent Testing and Evaluation Laboratory) is the largest independent tester for determining the fair-market replacement value of damaged products and is used by insurance carriers, claims adjusters, contractors, and property owners. GOLD financings are proprietary Golub Capital One-Loan Debt facilities.
In 1993, ITEL created the market for independent laboratory testing to determine the replacement value of damaged carpet for insurance carriers and their insured homeowners. Since that time, the company has expanded into testing other products such as vinyl, laminate and wood flooring, with plans to further expand into additional testing services. The majority of ITEL's business is derived from standard property insurance claims, such as damaged water pipes, weather conditions or household fires.
This is Golub Capital's first deal with The Riverside Company. "We are pleased to be working with The Riverside Company. They are a top notch firm," said Golub Capital Principal Sean Coleman.

"ITEL is really a unique company with lots of growth potential. It's a real high quality company and we look forward to supporting it," said Golub Capital Principal Tom Turmell.

"Even in this difficult credit environment, Golub Capital proved to be a strong supporter of our goals. We are pleased to have them as a partner on this transaction," says The Riverside Company Principal Chip Walker.