capital southwest corp (CSWC) Key Developments
Capital Southwest Corporation Announces Appointment of Michael S. Sarner as Senior Vice President, Effective on or Before August 1, 2015
Jun 29 15
On June 29, 2015, Capital Southwest Corporation announced the appointment of Michael S. Sarner as Senior Vice President of the company, effective on or before August 1, 2015. Following the completion of the previously announced spin-off transaction, Mr. Sarner will be appointed Chief Financial Officer of the business development company. Mr. Sarner brings over 20 years of financial, treasury and BDC experience to Capital Southwest. Before joining the company, he spent 15 years at American Capital Ltd. in a variety of financial roles, most recently as Senior Vice President, Treasury. At American Capital, he was responsible for initiatives and staff development related to debt capital markets, treasury and financial planning and analysis. These responsibilities included corporate debt originations, refinancings, RIC/BDC compliance and debt servicing.
Capital Southwest Corporation Announces Addition of Josh Weinstein as Principal on the Investment Team
Jun 26 15
Capital Southwest Corporation announced that Josh Weinstein has joined the company as a Principal on the investment team, effective immediately. Mr. Weinstein brings to Capital Southwest extensive sourcing and underwriting experience in both direct lending and middle market syndicated credits. Mr. Weinstein brings 15 years of capital markets and investment experience to Capital Southwest. Before joining the company, he was a Principal at H.I.G. WhiteHorse where he was responsible for all aspects of the investment process, including sourcing, evaluation, structuring and monitoring middle market credits in multiple industries for a number of credit platforms including a publicly traded BDC.
Capital Southwest Corporation Announces Retirement of Samuel B. Ligon as Director
Jun 25 15
Capital Southwest Corporation announced that on June 22, 2015, Samuel B. Ligon, a Director of the company advised the company that he plans to retire and will not stand for re-election to the Board of Directors of the company when his term expires at the company's 2015 annual meeting of shareholders (the Annual Meeting). Mr. Ligon's retirement from the Board will be effective at the conclusion of the Annual Meeting. Mr. Ligon has served on the Board since 2003. Mr. Ligon's decision to retire and not stand for re-election was not the result of any disagreement with the company or its management.
Capital Southwest Corporation Reports Earnings Results for the Period Ended March 31, 2015
May 1 15
Capital Southwest Corporation reported earnings results for the period ended March 31, 2015. For the period, the company reported net assets per share of $49.30 against $49.98 a year ago. Principally as a result of these divestitures, the company's net unrealized appreciation decreased by $108,377,183. The company incurred a net investment loss of $2,445,341.
Capital Southwest Seeks Acquisitions
Apr 29 15
Capital Southwest Corporation (NasdaqGS:CSWC) is looking for acquisitions. "With the acquisition of Strathmore, we now have a meaningful market presence in the industrial coatings sector and a platform from which to grow through end-market and geographic expansion as well as through the execution of strategic acquisitions," said Joseph B. Armes, Chairman and Chief Executive Officer of Capital Southwest. He also said "The acquisition of Strathmore is an example of the opportunities we see for creating a standalone industrials business focused on generating free cash flow through organic and acquisition-based growth. We continue to assess strategic acquisitions that either build-out existing industry verticals or provide an entry into new, complementary industry verticals where we can enhance performance and create value,"