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.
SOURCE: Capitala Finance Corp.
Capitala Group
Steve Arnall, Chief Financial Officer
sarnall@capitalagroup.com
Katina Cole Jakubowski, Marketing Specialist
press@capitalagroup.com