Capital Southwest Supports Align Capital Partners’ Acquisition of Electronic Transaction Consultants
Capital Southwest Corporation (CSWC) announced its support for Align Capital Partners' acquisition of Electronic Transaction Consultants Corporation (ETC) from Atlantia SpA. The deal includes a revolver, first lien term loan, and equity co-investment, with Capital Southwest acting as the administrative agent. ETC, based in Texas, provides electronic tolling technology and smart mobility solutions, leveraging AI and big data. This strategic partnership aims to enhance ETC's technology investments and market position.
- Capital Southwest leads a significant financing transaction to support Align Capital Partners' acquisition of ETC.
- ETC is well-positioned to leverage its technology for new projects and relationships, enhancing growth potential.
- None.
DALLAS, Aug. 13, 2020 (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 Align Capital Partners’ (“ACP”) recent acquisition of Electronic Transaction Consultants Corporation (“ETC” or the “Company”) from Italian parent company Atlantia SpA with a revolver, first lien term loan and equity co-investment. Capital Southwest led the financing transaction and will act as the sole administrative agent on the credit facility. Main Street Capital Corporation (NYSE: MAIN) and Principal Global Investors, LLC (an affiliate of Principal Financial Group, Nasdaq: PFG) were co-lenders on the term loan and the revolving credit facility.
"We are excited to partner with ACP and ETC. ACP brings extensive experience investing in the technology and business services sectors and we look forward to supporting ETC to invest in its technology and team to build out its Mobility-as-a-Service platform," said Douglas Kelley, Managing Director of Capital Southwest. Grant Eason, Vice President of Capital Southwest said, “ETC is a critical technology partner to a number of the largest tolling authorities in the country and is well-positioned to leverage its leading technology suite for new projects and agency relationships.”
Headquartered in Richardson, TX, ETC is an industry-leading software and services provider of electronic tolling technology and smart mobility solutions. Founded in 1999, ETC serves electronic tolling agencies by providing back office and roadside services through its next-generation, modular software platform. The Company’s proprietary software utilizes artificial intelligence (“AI”) technology and big data to meet unique tolling and transportation needs at a lower cost to the customer.
About Capital Southwest
Capital Southwest Corporation (Nasdaq: CSWC) is a Dallas, Texas-based, internally managed business development company with approximately
About Align Capital Partners
Align Capital Partners is a growth-oriented private equity firm that partners with business owners and management teams to create shared success. ACP manages
Forward-Looking Statements
This press release contains historical information and forward-looking statements with respect to the business and investments of Capital Southwest. Forward-looking statements are statements that are not historical statements and can often be identified by words such as "will," "believe," "expect" and similar expressions and variations or negatives of these words. These statements are based on management's current expectations, assumptions and beliefs. They are not guarantees of future results and are subject to numerous risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed in any forward-looking statement. These risks include risks related to: whether the SBA ultimately issues the SBIC license and the timing thereof; changes in the markets in which Capital Southwest invests; changes in the financial, capital, and lending markets; regulatory changes; tax treatment and general economic and business conditions; and uncertainties associated with the impact from the COVID-19 pandemic, including its impact on the global and U.S. capital markets and the global and U.S. economy, the length and duration of the COVID-19 outbreak in the United States as well as worldwide and the magnitude of the economic impact of that outbreak; the effect of the COVID-19 pandemic on our business prospects and the operational and financial performance of our portfolio companies, including our ability and their ability to achieve their respective objectives, and the effects of the disruptions caused by the COVID-19 pandemic on our ability to continue to effectively manage our business.
Readers should not place undue reliance on any forward-looking statements and are encouraged to review Capital Southwest's Annual Report on Form 10-K for the year ended March 31, 2020 and subsequent filings, including the "Risk Factors" sections therein, with the Securities and Exchange Commission for a more complete discussion of the risks and other factors that could affect any forward-looking statements. Except as required by the federal securities laws, Capital Southwest does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, changing circumstances or any other reason after the date of this press release.
Investor Relations Contact:
Michael S. Sarner, Chief Financial Officer
214-884-3829
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