Business
Capital Southwest Supports BRS & Co.’s Recapitalization of Shearwater Research
DALLAS, May 20, 2021 (GLOBE NEWSWIRE) -- Capital Southwest Corporation (“Capital Southwest”) (Nasdaq: CSWC), an internally managed business development
About this update from Capital Southwest Corporation
[{"type":"text","content":"DALLAS, May 20, 2021 (GLOBE NEWSWIRE) -- 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 backed BRS & Co.’s (“BRS”) majority recapitalization of Shearwater Research (“Shearwater” or the “Company”) with a revolving credit facility, first lien term loan, delayed draw term loan and a minority equity co-investment. Capital Southwest led the financing and will act as the sole administrative agent on the credit facilities. \"We are thrilled to partner with BRS on its investment in Shearwater,” said Josh Weinstein, Senior Managing Director of Capital Southwest. “The Company has developed a strong reputation as one of the premier global providers of dive computers and related technologies.” Spencer Klein, Senior Vice President of Capital Southwest, said, “We’re excited to support BRS as they leverage their expertise in consumer products to help accelerate the Company’s growth and continue the development of new products. Shearwater is well-positioned to benefit from the resumption of dive trips as travel restrictions continue to subside worldwide.” Founded in 2004 and headquartered near Vancouver, British Columbia, Shearwater designs and manufactures dive computers and rebreather electronics for technical and recreational diving. The Company specializes in designing simple, intuitive user interfaces, making Shearwater one of the most sought-after brands among diving enthusiasts, specialty dive shops, dealers, and rebreather OEMs. For additional information on Shearwater, please visit www.shearwater.com. About Capital Southwest Capital Southwest Corporation (Nasdaq: CSWC) is a Dallas, Texas-based, internally managed business development company, with approximately $313 million in net assets as of December 31, 2020. Capital Southwest is a middle market lending firm focused on supporting the acquisition and growth of middle market businesses with $5 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 solut...