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DALLAS, Jan. 13, 2020 (GLOBE NEWSWIRE) -- Capital Southwest Corporation (“Capital Southwest”) (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 Cotton Creek Capital’s (“Cotton Creek”) recent acquisition of Landpoint, LLC and all of the Company’s subsidiaries, which include King Surveyors, LLC and West Company of Midland, LLC (collectively “Landpoint”) with a senior secured first lien term loan. Capital Southwest led the financing and will act as the sole administrative agent on the credit facility.
"We are excited to partner with Cotton Creek on its acquisition of Landpoint. Cotton Creek brings deep experience in the infrastructure services sector and an extensive network of industry relationships that will bolster the Company’s next phase of growth," said Douglas Kelley, Managing Director of Capital Southwest.
Based in Bossier City, Louisiana, Landpoint is an award-winning firm of registered land surveyors and engineers providing nation-wide coverage for projects of all sizes. Landpoint’s core service offering includes land surveying, aerial data collection, 3D laser scanning, and geographic information systems. The Company serves a range of market sectors including energy, industrial, commercial and utility, with notable strengths in serving large-scale, linear utility projects, including midstream oil & gas, electric transmission and distribution, water conveyance and fiber optic networks. With over 35 years of archived data, combined with meaningful operational infrastructure anchored by its propriety TrueAtlas technology, Landpoint is able to efficiently and effectively deliver its services to a broad range of customers. Landpoint has approximately 250 employees in nine locations across the South Central United States.
About Capital Southwest
Capital Southwest Corporation (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 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.
About Cotton Creek Capital
Cotton Creek Capital is a Texas-based private equity firm focused on investing in and growing lower middle market companies. Cotton Creek partners with exceptional management teams, collaborating to create operational road maps to support the growth and evolution of the business, while leaving the corporate identity of the enterprise intact. Cotton Creek Capital's senior investment professionals have invested in and advised privately-held businesses for over twenty years, with an active approach that enables them to work in concert with management teams to build market-leading businesses. For more, visit www.cottoncreekcapital.com.
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 changes in the markets in which Capital Southwest invests, changes in the financial and lending markets, regulatory changes, tax treatment and general economic and business conditions.
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, 2019 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