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
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.
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Capitala Finance Corp.
Stephen Arnall, 704-376-5502
Chief Financial Officer
Source: Capitala Finance Corp.