DALLAS, Feb. 21, 2018 (GLOBE NEWSWIRE) -- Capital Southwest Corporation (“Capital Southwest”) (Nasdaq:CSWC), a middle-market lending firm focused on supporting the acquisition and growth of middle market businesses, announced today that it has completed an investment in ITA Holdings Group, LLC (d/b/a “Apollo MedFlight”), a provider of air medical transportation services headquartered in Amarillo, TX. The total investment is approximately $14.5 million, comprised of a revolving credit facility, first lien term loan, delayed draw term loan and minority equity investment. Capital Southwest serves as the sole administrative agent and lender on the credit facility.
“We are pleased to have the opportunity to partner with Apollo MedFlight and to support the company’s continued growth as it expands its geographic presence,” said Douglas Kelley, Managing Director of Capital Southwest. “Apollo MedFlight provides exemplary air medical transport services and serves an ongoing need to provide expedient transportation to patients in rural communities” said Ryan Kelly, Vice President of Capital Southwest. “Apollo MedFlight is led by a management team of highly seasoned industry leaders, and we look forward to the partnership.”
Apollo MedFlight primarily transports, by rotor-wing and fixed-wing aircraft, patients which need higher levels of emergency care from rural hospitals to facilities with expanded capabilities in larger metropolitan areas. The Company holds an accreditation from the Commission on Accreditation of Medical Transport Systems (“CAMTS”), a certification focused on operational safety, quality of care and industry best practices.
About Capital Southwest
Capital Southwest Corporation (Nasdaq:CSWC) is a Dallas, Texas-based, internally managed Business Development Company with approximately $299 million in net assets as of December 31, 2017. As a middle-market lending firm focused on supporting the acquisition and growth of middle market businesses, Capital Southwest makes investments ranging from $5 to $20 million in securities across the capital structure, including first lien, unitranche, second lien, subordinated debt and non-control equity co-investments. A public company with a permanent capital base, Capital Southwest has the flexibility to be creative in its financing solutions and to invest to support the growth of its portfolio companies over long periods of time.
Forward-Looking Statements
This press release contains historical information and forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 with respect to the business and investments of Capital Southwest. Forward-looking statements are statements that are not historical statements and can often be identified by words such as "will," "may," "could," "believe," "expect" and similar expressions and variations or negatives of these words. These statements are based on management's current expectations, assumptions and beliefs. They are not guarantees of future results and are subject to numerous risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed in any forward-looking statement. These risks include risks related to changes in the markets in which Capital Southwest invests, changes in the financial and lending markets, regulatory changes, tax treatment and general economic and business conditions.
Readers should not place undue reliance on any forward-looking statements and are encouraged to review Capital Southwest's Annual Report on Form 10-K for the year ended March 31, 2017 and subsequent filings with the Securities and Exchange Commission for a more complete discussion of the risks and other factors that could affect any forward-looking statements. Except as required by the federal securities laws, Capital Southwest does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, changing circumstances or any other reason after the date of this press release.
Investor Relations Contact:
Michael S. Sarner, Chief Financial Officer
214-884-3829