CHARLOTTE, N.C.--(BUSINESS WIRE)--
Capitala Group ("Capitala"), a provider of capital to lower and
traditional middle market companies, announced today that it recently
invested $23.0 million in Xirgo Technologies, Inc. ("Xirgo" or the
"Company"). Xirgo is a leading provider of wireless telematics modules
for tracking, monitoring, protecting and controlling remote assets and
workers supporting the Internet of Things growth sector.
Capitala Finance Corp., a business development company managed by
Capitala, (Nasdaq:CPTA) invested approximately $16.2 million of second
lien debt and equity, with the remaining $6.9 million invested by
Capitala Group affiliated funds. The investment was made in support of
Hammond, Kennedy, Whitney & Company, Inc.'s acquisition of Xirgo.
Based out Camarillo, CA, Xirgo provides innovative, high-value
M2M communications platforms with exceptional quality and scale. The
Company supplies products to numerous market verticals including
automotive, mobile monitoring & control, fleet management and container
& trailer tracking.
About Capitala Group
Capitala Group is a leading provider of capital to lower and traditional
middle market companies, through its family of credit focused funds.
Since 1998, Capitala Group's managed funds have participated in over 133
transactions, representing over $1.2 billion of investments in a variety
of industries throughout North America. Capitala Group manages both
public capital (Capitala Finance Corp.) (Nasdaq:CPTA) and private
capital (Capitala Private Credit Fund V, L.P. and CapitalSouth SBIC Fund
IV, L.P.) for institutional and individual investors, and seeks to
partner with strong management teams to create value and serve as long
term partners. For more information, please visit www.CapitalaGroup.com.
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. The Company is managed by Capitala Investment Advisors, LLC.
For more information on Capitala, or to automatically receive email
notifications of Company financial information, press releases, stock
alerts, or other corporate filings, please visit the Investor Relations
section of our website.
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/20161205005393/en/
Capitala Group
Steve Arnall, Chief Financial Officer
sarnall@capitalagroup.com
or
Katina
Cole Jakubowski, Marketing Specialist
press@capitalagroup.com
Source: Capitala Finance Corp.
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