Capital Southwest has provided $14.5 million in growth funding to Amarillo, Texas-based Apollo MedFlight, a provider of air medical transportation services. The financing was comprised of a revolving credit facility, first lien term loan, delayed draw term loan and minority equity investment.
DALLAS, Feb. 21, 2018 (GLOBE NEWSWIRE) — Capital Southwest Corporation (“Capital Southwest”) (Nasdaq:CSWC), a middle-market lending firm focused on supporting the acquisition and growth of middle market businesses, announced today that it has completed an investment in ITA Holdings Group, LLC (d/b/a “Apollo MedFlight”), a provider of air medical transportation services headquartered in Amarillo, TX. The total investment is approximately $14.5 million, comprised of a revolving credit facility, first lien term loan, delayed draw term loan and minority equity investment. Capital Southwest serves as the sole administrative agent and lender on the credit facility.
“We are pleased to have the opportunity to partner with Apollo MedFlight and to support the company’s continued growth as it expands its geographic presence,” said Douglas Kelley, Managing Director of Capital Southwest. “Apollo MedFlight provides exemplary air medical transport services and serves an ongoing need to provide expedient transportation to patients in rural communities” said Ryan Kelly, Vice President of Capital Southwest. “Apollo MedFlight is led by a management team of highly seasoned industry leaders, and we look forward to the partnership.”
Apollo MedFlight primarily transports, by rotor-wing and fixed-wing aircraft, patients which need higher levels of emergency care from rural hospitals to facilities with expanded capabilities in larger metropolitan areas. The Company holds an accreditation from the Commission on Accreditation of Medical Transport Systems (“CAMTS”), a certification focused on operational safety, quality of care and industry best practices.
About Capital Southwest
Capital Southwest Corporation (Nasdaq:CSWC) is a Dallas, Texas-based, internally managed Business Development Company with approximately $299 million in net assets as of December 31, 2017. As a middle-market lending firm focused on supporting the acquisition and growth of middle market businesses, Capital Southwest makes investments ranging from $5 to $20 million in securities across the capital structure, including first lien, unitranche, second lien, subordinated debt and non-control equity co-investments. 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.