DALLAS, April 11, 2017 (GLOBE NEWSWIRE) -- Capital Southwest Corporation (“Capital Southwest”) (Nasdaq:CSWC) announced today that it supported the recent acquisition of Binswanger Glass by Wingate Partners with a $44.2 million first lien term loan. Capital Southwest invested $13.3 million in the first lien term loan and serves as sole administrative agent. Main Street Capital Corporation (“Main Street”) (NYSE:MAIN) was its co-investor in the term loan. Capital Southwest and Main Street also made equity co-investments in the transaction.
“We are pleased to have the opportunity to partner with Wingate on the acquisition of Binswanger Glass,” said Douglas Kelley, Managing Director of Capital Southwest. “We are impressed with the company’s market position, and believe that Wingate’s stellar track record of working with management teams to drive shareholder value will be an exciting complement to Binswanger as it moves to the next chapter of its growth.”
Binswanger Glass, headquartered in Memphis, Tennessee with 64 locations in 15 states, is one of the largest U.S. providers of repair, replacement, remodeling as well as new construction and installation services for a full suite of architectural glass and aluminum products, serving commercial, residential, and automotive aftermarket customers.
About Capital Southwest
Capital Southwest Corporation (Nasdaq:CSWC) is a Dallas, Texas-based publicly traded business development company, with approximately $285 million in net assets as of December 31, 2016. Capital Southwest is a credit investment firm focused on supporting the acquisition and growth of middle market businesses with $5 to $20 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.
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, 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, 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.