Alcentra Capital supports NC-based A Wireless merger with $11.2M loan

GREENVILLE, NC — Alcentra Capital Corporation (NASDAQ Global Select Market: “ABDC”) has provided $11.25 million in a senior secured term loan commitment to A2Z Wireless Holdings. The investment supported the merger between Z Wireless Holdings, and ABC Phones of North Carolina, which does business as A Wireless.

A Wireless was founded as a partnership by Richard and David Balot in October 1996 in Wilson, North Carolina. and incorporated as ABC Phones of North Carolina Inc. in 1999. A Wireless is an exclusive National Premium Retailer for Verizon Wireless.

Z Wireless Holdings is a portfolio company of Atlantic Street Capital.

The combined company will be a specialty retailer of Verizon Wireless products. Terms of the merger agreement were not disclosed.

Prior to the merger, it employed 1,400 people in 250 locations in 17 states.