CHARLOTTE, N.C., July 22, 2015 (GLOBE NEWSWIRE) -- Capitala Finance Corp. ("Capitala") (Nasdaq:CPTA) announced today that it recently invested $28.3 million in senior subordinated debt to assist in the merger of Escort Inc. ("Escort") and Cobra Electronics Corp. ("Cobra"), to form Cedar Electronics Holdings Corp. ("Cedar"). Cedar is an industry leader in branded consumer electronics for casual and professional drivers, boat owners and outdoor enthusiasts.
Escort is the market leader in the design, manufacturing and distribution of premium ticket protection devices for both professional and amateur drivers. Escort sells radar detectors under the Escort, Passport and Beltronics brands through the Escort and Beltronics websites, Amazon, Best Buy and specialty retailers. Cobra designs, sources and distributes marine radios, two-way radios, citizen band radios, dash cams, radar detectors and other consumer electronics. Cobra's products are sold under the Cobra brand name through big box retailers, truck stops and travel centers, e-retailers and specialty retailers.
The combined business is now based at Escort's current headquarters in West Chester, Ohio and employs over 350 team members worldwide.
About Capitala Finance Corp.
Capitala Finance Corp. is a business development company that invests primarily in traditional mezzanine, senior subordinated and unitranche debt, as well as senior and second-lien loans and, to lesser extent, equity securities issued by lower and traditional middle-market companies. Capitala Finance Corp. is managed by Capitala Investment Advisors, LLC. For more information, please visit www.CapitalaGroup.com
This press release contains certain forward-looking statements. Words such as "believes," "intends," "expects," "projects," "anticipates," and "future" or similar expressions are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in the Capitala's filings with the Securities and Exchange Commission. Capitala Finance Corp. undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.
CONTACT: Capitala Finance Corp. Stephen Arnall, Chief Financial Officer 704-376-5502 firstname.lastname@example.org
Source:Capitala Finance Corp.