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CHARLOTTE, N.C., Sept. 25, 2018 (GLOBE NEWSWIRE) -- Capitala Group (“Capitala” or the “Company”) announced today that it recently led a $45.0 million investment to support ITC Capital Partners in its acquisition of the BVU OptiNet fiber optic network by Sunset Digital Holding, LLC.
“We were excited to have led the financing for this transaction.” stated Joe Alala, III, Chairman & CEO of Capitala Group. “We are equally as excited to have worked with ITC Capital Partners on this deal, as they have demonstrated their capability of successfully investing in the suburban and rural telecommunications space.”
Based out of Bristol, VA, Sunset Digital is a tier-two next generation fiber optics services company serving the southwest Virginia and northeast Tennessee regions. Sunset provides broadband Internet, private data, Internet Protocol Television, and Telephone services to residential customers, small business, medical facilities, banks and other Internet service providers.
About Capitala Group
Capitala Group is a $2.7 billion asset management firm that provides capital to lower and traditional middle market businesses throughout North America with office locations in Atlanta, Charlotte, Fort Lauderdale, Los Angeles, New York, and Raleigh. Capitala’s lower middle market investment strategy focuses on investing in debt securities with minority equity co-investments with less than $250 million in enterprise value through its permanent capital vehicles, Capitala Finance Corp. (Nasdaq:CPTA) and Capitala Specialty Lending Corp. (CSLC). Capitala’s growth fund strategy targets control and minority equity investments, typically coupled with credit investments, in lower middle market companies with less than $30 million in enterprise value through both SBIC (CapitalSouth SBIC Fund IV, L.P.) and non-SBIC closed-end funds. Capitala Group has invested in over 150 companies since its inception in 1998 and seeks to partner with strong management teams to create value and achieve optimal outcomes for its investors. For more information, visit our website at www.CapitalaGroup.com.
SOURCE: Capitala Finance Corp.
Steve Arnall, Chief Financial Officer