Business
Capital Southwest Supports New Harbor Capital’s Majority Growth Equity Investment in FoodPharma
DALLAS, June 09, 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, June 09, 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 recently supported New Harbor Capital (“NHC”) in its majority growth equity investment in Food Technology and Design, LLC dba FoodPharma LLC (“FoodPharma” 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. “We are excited to partner with NHC on its investment in FoodPharma,” said Josh Weinstein, Senior Managing Director of Capital Southwest. “The Company has a demonstrated track record of being a value-added manufacturer of functional foods.” Grant Eason, Senior Vice President of Capital Southwest, said “FoodPharma delivers sophisticated development capabilities to its clients allowing them to develop products in the evolving functional food category.” Founded in 2000 and headquartered in Santa Fe Springs, California, FoodPharma leverages a large portfolio of over 500 proprietary formulas and recipes, as well as in-house research, development, and formulation capabilities, to deliver innovative, functional food products to its customers. The Company has a market-leading position in the soft chew category, specifically in bariatric and weight-loss nutrition. FoodPharma serves a wide variety of customers and channels, including leading CPG, private label, and specialty brands. The Company currently employs over 90 individuals in two California facilities located in Santa Fe Springs and Long Beach. About Capital Southwest Capital Southwest Corporation (Nasdaq: CSWC) is a Dallas, Texas-based, internally managed business development company with approximately $336 million in net assets as of March 31, 2021. 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 ha...