Business
Capital Southwest Supports LKCM Headwater’s Refinancing of Relevant Rental
DALLAS, Nov. 20, 2019 (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, Nov. 20, 2019 (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 supported LKCM Headwater Investments (“LKCM”), the private investment arm of Luther King Capital Management, in its recent refinancing of ICS Distribution, LLC d/b/a Relevant Rental (“Relevant” or the “Company”). Capital Southwest led the financing transaction and serves as administrative agent on the term loan.\n \"We are grateful to partner again with LKCM and finance a complicated transaction which carved the rental business out of its former parent company,\" said Douglas Kelley, Managing Director of Capital Southwest. Ryan Kelly, Principal of Capital Southwest said, “Relevant leverages its highly unique rental fleet to provide oil-free compressed air solutions in niche situations that require high volume or high pressure applications.” Founded in 1984 and headquartered in Houston, TX, Relevant is a compressed, oil-free air rental provider to end users in refinery, petrochemical, power generation, food and beverage, pharmaceutical, plastics and other industrial settings. The Company’s fleet can address a full spectrum of pressure and flow needs for its customers, which often operate in environments in which tailored solutions for oil-free air are required. The Company’s service technicians repair and maintain the Company’s fleet of equipment in its Houston, TX facility. About Capital Southwest Capital Southwest Corporation (Nasdaq:CSWC) is a Dallas, Texas-based, internally managed business development company, with approximately $328 million in net assets as of September 30, 2019. 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. Forward-Looking Statements This pr...