NEW YORK -

Altamont Capital Partners’ recent purchase of J.D. Byrider recently gained more financial support through a debt investment by Prospect Capital Corp., a closed-end investment company that lends to and invests in private and microcap public businesses.

Prospect Capital is injecting $25 million into the deal.

Altamont plans to provide Byrider with strategic direction, experienced resources and additional capital to support its growth and franchise expansion initiatives.

The purchase of Byrider is Altamont’s first investment from its $500 million fund, which closed late last year. The firm said it is focused on acquiring and building “middle-market businesses across a range of industries.”

Jim Clippard, a member of Prospect Capital’s investment team, insisted, “J.D. Byrider is an industry leader with a proven concept and many highly satisfied customers.

“With nearly $2 billion in assets and committed capital, Prospect is also an industry leader in middle-market finance, and we actively solicit $10 million to $100 million deals from private equity sponsors and intermediaries nationwide,” Clippard continued. “We are a relationship-driven team that delivers significant repeat business through responsiveness and follow-through.”

Prospect Capital indicated it has closed more than $350 million in new originations since Dec. 31.