[Federal Register Volume 77, Number 249 (Friday, December 28, 2012)]
[Notices]
[Page 76586]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2012-31291]


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SMALL BUSINESS ADMINISTRATION

[License No. 02/02-0644]


GC SBIC IV, L.P.; Notice Seeking Exemption Under Section 312 of 
the Small Business Investment Act, Conflicts of Interest

    Notice is hereby given that GC SBIC IV, L.P., 666 Fifth Avenue, 
18th Floor, New York, NY, 10103, a Federal Licensee under the Small 
Business Investment Act of 1958, as amended (``the Act''), in 
connection with the financing of two small concerns, has sought an 
exemption under Section 312 of the Act and Section 107.730, Financings 
which Constitute Conflicts of Interest of the Small Business 
Administration (``SBA'') Rules and Regulations (13 CFR 107.730). GC 
SBIC IV, L.P. provided loan financing to Massage Envy LLC, 14350 N. 
87th Street, Suite 200, Scottsdale, AZ 85260 in a change of control 
transaction on September 28, 2012. The financing was used, in part, to 
pay the seller, to pay off existing debt, and to pay fees and expenses. 
GC SBIC IV, L.P. also provided loan financing to Specialty Catalog 
Corp., 21 Bristol Drive, South Easton, MA 02375 in a change of control 
transaction on July 19, 2012. The financing was used, in part, for 
working capital, to repay existing senior debt, to repay existing 
junior debt, for capital expenditures, and for other corporate 
purposes.
    The transactions are brought within the purview of Sec.  107.730 of 
the Regulations because Massage Envy LLC used financing proceeds from 
GC SBIC IV, L.P. in part to discharge obligations to LEG Partners 
Debenture SBIC, L.P. and other entities under common management by 
Golub Capital, which are Associates of GC SBIC IV, L.P. Specialty 
Catalog Corp. also used financing proceeds from GC SBIC IV, L.P. in 
part to discharge obligations to LEG Partners Debenture SBIC, L.P., an 
Associate of GC SBIC IV, L.P.
    Therefore, these transaction are considered self-deals pursuant to 
13 CFR 107.730 and require regulatory exemptions. Notice is hereby 
given that any interested person may submit written comments on the 
transaction within fifteen days of the date of this publication to 
Associate Administrator for Investment, U.S. Small Business 
Administration, 409 Third Street, SW., Washington, DC 20416.

    Dated: December 12, 2012.
Sean J. Greene,
Associate Administrator for Investment.
[FR Doc. 2012-31291 Filed 12-27-12; 8:45 am]
BILLING CODE P