CHARLOTTE, NC, August 22, 2018 – Capitala Group (“Capitala” or the “Company” ), a provider of capital to lower and traditional middle market companies, announced today that it has successfully exited Western Window Systems, LLC and Kelle’s Transport Service, LLC.
On August 13, 2018, the Company exited its investment in Western Window Systems, a designer and manufacturer of moving glass walls and windows. Proceeds from the exit totaled $23.3 million; $10.5 million for full repayment of the senior secured debt investment, and $12.8 million for the Company’s equity investment. This generated a realized gain of $9.8 million for Capitala.
On July 31, 2018, the Company sold its senior secured debt investment in Kelle’s Transport Services, a provider of temperature-sensitive freight transportation, receiving $13.3 million in proceeds upon exit.
About Capitala Group
Capitala Group is a $2.7 billion asset management firm that provides capital to lower and traditional middle market businesses throughout North America with office locations in Atlanta, Charlotte, Fort Lauderdale, Los Angeles, New York, and Raleigh. Capitala’s lower middle market investment strategy focuses on investing in debt securities with minority equity co-investments with less than $250 million in enterprise value through its permanent capital vehicles, Capitala Finance Corp. (Nasdaq:CPTA) and Capitala Specialty Lending Corp. (CSLC). Capitala’s growth fund strategy targets control and minority equity investments, typically coupled with credit investments, in lower middle market companies with less than $30 million in enterprise value through both SBIC (CapitalSouth SBIC Fund IV, L.P.) and non-SBIC closed-end funds. Capitala Group has invested in over 150 companies since its inception in 1998 and seeks to partner with strong management teams to create value and achieve optimal outcomes for its investors. For more information, visit our website at www.CapitalaGroup.com.
SOURCE: Capitala Finance Corp.
Steve Arnall, Chief Financial Officer