DALLAS, Oct. 3, 2014 (GLOBE NEWSWIRE) -- Media Recovery, Inc. (MRI), a portfolio company of Capital Southwest Corporation, completed the divestiture of DataSpan, Inc., a leading data storage, products, and management provider, to DataSpan Holdings. DataSpan Holdings is sponsored by Bonefish Capital.
"This transaction drives value for our investment in MRI, as we were able to divest of another noncore business and strategically focus MRI's capital on the exciting growth prospects of its core business, ShockWatch", said Joseph B. Armes, Chairman and Chief Executive Officer of Capital Southwest. "We are grateful for the contribution of each and every DataSpan employee and wish the company all the best in the future under its new ownership and leadership."
In the last twelve months, MRI has completed the divestiture of two of its three business units, DataSpan and DPC, while reinvesting some of that capital in the add-on acquisition of ShockLog for ShockWatch.
Terms of the transaction were not disclosed.
DataSpan is a Dallas based provider of data solutions, infrastructure, and protection products. Since 1974, DataSpan has been a trusted partner for more than half of the Fortune 1000. The business currently delivers advanced solutions for acquiring, archiving, and securing data to more than 3,500 small and mid-size businesses and enterprises. DataSpan also offers specialized and localized products and services in more than 100 countries. The company embraces innovation, relies upon proven technology, and provides a full range of solutions to optimize every data infrastructure.
About Media Recovery / ShockWatch
Founded in 1976 and based in Dallas, Texas, Media Recovery, Inc. (MRI) is a global leader in creating innovative solutions for safeguarding clients' assets. ShockWatch, a subsidiary of Media Recovery, Inc., provides solutions that currently enable over 3,000 customers and some 200 partners in 62 countries to detect mishandling that causes product damage and spoilage during transport and storage. The ShockWatch product portfolio includes impact, tilt, temperature, vibration, and humidity detection systems and is widely used in the energy, transportation, aerospace, defense, food, pharmaceutical, medical device, consumer goods and manufacturing sectors. For more information, visit www.shockwatch.com.
About Capital Southwest
Capital Southwest Corporation (Nasdaq:CSWC) is a Dallas, Texas based publicly traded investment company that makes private equity investments with approximately $750 million in assets. Since Capital Southwest was formed in 1961, we have always sought to invest in companies with strong management teams and sound financial performance. As a public company, we are fortunate to have the flexibility to hold investments indefinitely. It is our dedication to this flexible investment strategy that enables our portfolio companies to achieve their full potential.
CONTACT: Capital Southwest Corporation 214-884-3820Source:Capital Southwest Corporation