DALLAS, Aug. 02, 2016 (GLOBE NEWSWIRE) -- Capital Southwest Corporation (“Capital Southwest”) (Nasdaq:CSWC), announced today that it provided a $13 million term loan to refinance existing first lien debt of Amware Fulfillment, LLC (“Amware”), a portfolio company of Rotunda Capital Partners. The transaction closed on July 29, 2016. Capital Southwest is the sole administrative agent and investor in the first lien facility.
Amware Logistics (www.AmwareLogistics.com) provides B2B and B2C third-party logistics and order fulfillment services for a wide variety of industries throughout North America. Amware operates over 2 million square feet of warehouse space through nine facilities located across the United States.
“We are pleased to have the opportunity to partner with Amware and Rotunda Capital Partners on this opportunity,” said Josh Weinstein, Principal of Capital Southwest. "Amware’s geographic scope and scale allow its customers’ products to reach 98% of the United States in three days or less. We were impressed with management’s strong operational focus and the depth and longevity of Amware’s relationships with its customers over the years.”
“Amware represents an excellent example of a target investment for our lower middle market investment strategy; a company with a strong competitive position, a management team and sponsor with a demonstrated track record of value creation and a conservative capital structure with substantial equity support,” added Bowen S. Diehl, Chief Executive Officer of Capital Southwest.
Livingstone Partners served as the sole financial advisor to Amware for the transaction.
About Capital Southwest
Capital Southwest Corporation (Nasdaq:CSWC) is a Dallas, Texas-based publicly traded business development company, with approximately $273 million in net assets as of March 31, 2016. On September 30, 2015, Capital Southwest completed the spin-off to shareholders of its industrial businesses, CSW Industrials, Inc. Capital Southwest is a middle market lender focused on supporting the acquisition and growth of middle market businesses with investments from $5 to $20 million across the capital structure, including first lien, unitranche, second lien and subordinated debt, as well as non-control equity co-investments. Since Capital Southwest's formation in 1961, it has always sought to invest in companies with strong management teams and sound financial performance. As a public company with a permanent capital base, Capital Southwest is fortunate to have 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," "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 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, 2016 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.