DALLAS, Aug. 05, 2020 (GLOBE NEWSWIRE) -- Capital Southwest Corporation (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 the acquisition of WaterSmart by Vertex Business Services with first lien financing and equity co-investment. Capital Southwest serves as administrative agent on the credit facility. East West Bank is a first out lender in the term loan and provides a revolving credit facility.
VertexOne acquired WaterSmart, a provider of SaaS customer engagement and analytics for city and county water utilities. WaterSmart currently serves approximately 150 North American water utility customers in 33 states. The acquisition of WaterSmart broadens VertexOne’s product offering allowing VertexOne to better serve smaller utility customers with less than 50,000 meters in operation.
DFW Capital Partners (“DFW”) acquired VertexOne in July 2019. VertexOne provides software and managed services to electric, water, and gas utilities throughout the United States and Canada. VertexOne’s Customer Information System (“CIS”) manages account information, consumption, and billing data, providing a single point solution for tracking all customer interactions. VertexOne’s offering also includes CRM, customer engagement, meter data management, and workforce management modules designed specifically for utilities.
About Capital Southwest
Capital Southwest Corporation (Nasdaq: CSWC) is a Dallas, Texas-based, internally managed business development company with approximately $278 million in net assets as of June 30, 2020. 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 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 DFW Capital Partners
DFW Capital Partners is a private equity investment firm focused on lower middle-market companies. The firm concentrates on service companies, with an emphasis on healthcare and outsourced business and industrial support services. DFW has established a 20+ year track record of success in building leading companies. DFW is headquartered in Teaneck, New Jersey and maintains an office in Chevy Chase, Maryland. For more information visit www.dfwcapital.com.
