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CHARLOTTE, N.C., July 16, 2019 (GLOBE NEWSWIRE) -- Capitala Group (“Capitala” or the “Company”), a provider of capital to lower middle market companies, announced today that it has successfully exited Xirgo Technologies, LLC (“Xirgo”) and US Bath Group, LLC (“US Bath”), which does business as MPL Company.
On June 13, 2019, the Company exited its $15.8 million subordinated debt investment at par in Xirgo, a leading supplier of innovative, high-value M2M communication platforms used to track, monitor, protect and control remote assets. Capitala continues to hold its minority equity investment.
On June 18, 2019, the Company exited its investment in US Bath, a high-volume, build-to-order manufacturer of engineered composite products primarily for the hotel industry. Proceeds from the exit totaled $16.7 million; $12.4 million for full repayment of its senior secured debt at par, and $4.3 million for its equity investment.
About Capitala Group
Capitala Group is a $2.7 billion asset management firm that has been providing capital to lower middle market companies throughout North America for twenty years. Since our inception in 1998, Capitala has invested in over 150 companies and seeks to partner with strong management teams to create value and generate superior risk-adjusted returns for our individual and institutional investors. For more information, visit our website at www.CapitalaGroup.com.
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SOURCE: Capitala Finance Corp.