Capitala Group, a provider of capital to lower and traditional middle market companies, announced it recently invested $23.0 million in Xirgo Technologies, Inc. (“Xirgo” or the “Company”). Xirgo is a leading provider of wireless telematics modules for tracking, monitoring, protecting and controlling remote assets and workers supporting the Internet of Things growth sector.

Capitala Finance Corp., a business development company managed by Capitala, invested approximately $16.2 million of second lien debt and equity, with the remaining $6.9 million invested by Capitala Group affiliated funds. The investment was made in support of Hammond, Kennedy, Whitney & Company, Inc.’s acquisition of Xirgo.

Based out Camarillo, CA, Xirgo provides innovative, high-value M2M communications platforms with exceptional quality and scale. The Company supplies products to numerous market verticals including automotive, mobile monitoring & control, fleet management and container & trailer tracking.

Capitala Group is a leading provider of capital to lower and traditional middle market companies, through its family of credit focused funds. Since 1998, Capitala Group's managed funds have participated in over 133 transactions, representing over $1.2 billion of investments in a variety of industries throughout North America. Capitala Group manages both public capital (Capitala Finance Corp.) (CPTA) and private capital (Capitala Private Credit Fund V, L.P. and CapitalSouth SBIC Fund IV, L.P.) for institutional and individual investors, and seeks to partner with strong management teams to create value and serve as long term partners.

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. The Company is managed by Capitala Investment Advisors, LLC.