CHARLOTTE, N.C.--(BUSINESS WIRE)--
Capitala Finance Corp. ("Capitala") (Nasdaq:CPTA) announced today that
it recently invested $8.0 million in senior subordinated debt to assist
in the acquisition of VITAL Network Services, Inc. ("VITAL") by Vology,
Inc. ("Vology").
Headquartered in Tampa, Fla., Vology is a leading national IT solutions
company with a nationwide reach of world class solutions and services
and best-in-class engineers. Vology designs, implements and manages
infrastructures for organizations across a variety of industries.
VITAL is a service-only, multivendor support provider headquartered in
Tampa, Fla. VITAL delivers industry-leading network support services to
integrators, value-added resellers, distributors and carriers. The
company's comprehensive portfolio of LAN/WAN, unified communications,
wireless, server and managed broadband-based VPN solutions address all
facets of the network lifecycle including network design and planning,
integration, maintenance, and proactive monitoring and management.
This acquisition allows the combined company to reach more than $215
million in revenue while employing more than 400 engineering, sales and
operational professionals across the U.S. With the expanded
capabilities, Vology will be able to deliver more comprehensive IT
solutions by leveraging fully redundant remote network operations and
service desk facilities. This results in seamless management of more
than 100,000 devices on a 24/7/365 basis. To support its customers'
increased demands and growth trajectory, Vology expects to add more than
85 new positions in the foreseeable future, half of which will be
fulfilling engineering roles.
About Capitala Finance Corp.
Capitala Finance Corp. is a business development company that invests
primarily in traditional mezzanine, senior subordinated and unitranche
debt, as well as senior and second-lien loans and, to lesser extent,
equity securities issued by lower and traditional middle-market
companies. Capitala Finance Corp. is managed by Capitala Investment
Advisors, LLC. For more information, please visit www.CapitalaGroup.com
Forward-Looking Statements
This press release contains certain forward-looking statements. Words
such as "believes," "intends," "expects," "projects," "anticipates," and
"future" or similar expressions are intended to identify forward-looking
statements. These forward-looking statements are not guarantees of
future performance, condition or results and involve a number of risks
and uncertainties. Actual results may differ materially from
those in the forward-looking statements as a result of a number of
factors, including those described from time to time in the Capitala's
filings with the Securities and Exchange Commission. Capitala
Finance Corp. undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as may be required by law.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150902005756/en/
Capitala Finance Corp.
Stephen Arnall, 704-376-5502
Chief
Financial Officer
sarnall@capitalagroup.com
Source: Capitala Finance Corp.
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