Capital Southwest Supports VertexOne’s Acquisition of WaterSmart
August 05 2020 - 4:01PM
Capital Southwest Corporation (“Capital Southwest”) (Nasdaq:CSWC),
an internally managed business development company focused on
providing flexible financing solutions to support the acquisition
and growth of middle market businesses, announced today that it
recently supported the acquisition of WaterSmart by Vertex Business
Services (“VertexOne”) with first lien financing and equity
co-investment. Capital Southwest serves as administrative
agent on the credit facility. East West Bank is a first out lender
in the term loan and provides a revolving credit facility.
VertexOne acquired WaterSmart, a provider of
SaaS customer engagement and analytics for city and county water
utilities. WaterSmart currently serves approximately 150 North
American water utility customers in 33 states. The acquisition of
WaterSmart broadens VertexOne’s product offering allowing VertexOne
to better serve smaller utility customers with less than 50,000
meters in operation.
DFW Capital Partners (“DFW”) acquired VertexOne
in July 2019. VertexOne provides software and managed services to
electric, water, and gas utilities throughout the United States and
Canada. VertexOne’s Customer Information System (“CIS”) manages
account information, consumption, and billing data, providing a
single point solution for tracking all customer interactions.
VertexOne’s offering also includes CRM, customer engagement, meter
data management, and workforce management modules designed
specifically for utilities.
About Capital Southwest
Capital Southwest Corporation (Nasdaq: CSWC) is
a Dallas, Texas-based, internally managed business development
company with approximately $278 million in net assets as of June
30, 2020. Capital Southwest is a middle market lending firm focused
on supporting the acquisition and growth of middle market
businesses with $5 million to $25 million investments
across the capital structure, including first lien, unitranche,
second lien, subordinated debt and non-control equity
co-investments. As 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.
About DFW Capital Partners
DFW Capital Partners is a private equity
investment firm focused on lower middle-market companies. The firm
concentrates on service companies, with an emphasis on healthcare
and outsourced business and industrial support services. DFW has
established a 20+ year track record of success in building leading
companies. DFW is headquartered in Teaneck, New Jersey and
maintains an office in Chevy Chase, Maryland. For more information
visit www.dfwcapital.com.
Forward-Looking Statements
This press release contains historical
information and forward-looking statements 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: whether the SBA ultimately issues the
SBIC license and the timing thereof; changes in the markets in
which Capital Southwest invests; changes in the financial, capital,
and lending markets; regulatory changes; tax treatment and general
economic and business conditions; and uncertainties associated with
the impact from the COVID-19 pandemic, including its impact on the
global and U.S. capital markets and the global and U.S. economy,
the length and duration of the COVID-19 outbreak in the United
States as well as worldwide and the magnitude of the economic
impact of that outbreak; the effect of the COVID-19 pandemic on our
business prospects and the operational and financial performance of
our portfolio companies, including our ability and their ability to
achieve their respective objectives, and the effects of the
disruptions caused by the COVID-19 pandemic on our ability to
continue to effectively manage our business.
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,
2020 and subsequent filings, including the "Risk Factors" sections
therein, 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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