Capital Southwest Provides Growth Capital to Apollo MedFlight
February 21 2018 - 4:01PM
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
Officer214-884-3829
Capital Southwest (NASDAQ:CSWC)
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