Capital Southwest Corporation provided a credit facility to back Rotunda Capital Partners‘ recapitalization of St. Paul, Minnesota-based Trinity3 Technology, a provider of student computing solutions, warranty services and enterprise products for the K-12 market. No financial terms were disclosed. Capital Southwest will serve as the administrative agent on the financing.
PRESS RELEASE
DALLAS, Nov. 26, 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 Rotunda Capital Partners’ (“RCP”) recent recapitalization of Trinity3 Technology (“Trinity3” or the “Company”) with a term loan and equity co-investment. Capital Southwest led the financing transaction and will act as the sole administrative agent on the credit facility.
“We are excited to partner again with RCP and support its investment in Trinity3. RCP brings extensive experience in the distribution sector, and we look forward to supporting Trinity3 in its next phase of growth,” said Josh Weinstein, Managing Director of Capital Southwest. Matt Darrah, Principal of Capital Southwest said, “Trinity3 brings a unique value proposition to its K – 12 customers relative to competitors. We believe the Company will continue to be successful as technology becomes increasingly important in the classroom.”
Based in St. Paul, MN, Trinity3 primarily sells tablets, PCs, and laptops and related warranties, accessories, and enterprise products to the K – 12 market throughout the United States with a focus on small-to-medium sized school districts. The Company is brand agnostic and sells from a variety of leading manufacturers including Lenovo, Dell, HP, and Acer. The Company provides a “white glove service” that includes unboxing, charging, software installation, asset tagging, student name labeling, sorting by classroom, and repackaging for easier deployment. Trinity3’s in-house team of technicians facilitate the repair process for customers.
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 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 Rotunda Capital Partners
Rotunda Capital Partners is a private equity firm that invests equity capital in established and profitable lower middle market companies. The firm uses a rigorous approach to identify market-leading companies with identifiable growth opportunities and capable management teams in targeted sectors, including distribution, logistics, specialty finance, and business services. Rotunda Capital partners with management to build data-driven growth platforms. Since 2009, Rotunda Capital has completed 13 platform investments and realized five exits. The partners of Rotunda Capital actively provide guidance and draw on deep industry and financial relationships to contribute to the successful execution of Rotunda’s companies’ strategic plans. For more, visit www.rotundacapital.com
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