CHARLOTTE — Capitala Finance Group, a Charlotte, North Carolina-based company, announced today that they have invested $24.5 million in Freedom Electronics LLC.
Capitala’s investment in Freedom Electronics, one of the leading providers of electronic components for fuel dispensing and retail point-of-sale systems, will help them fund the company’s future growth. Freedom Electronics is based Kennesaw, Georgia.
Freedom Electronics’ portfolio sells over 2,300 electronic components to a national customer base from retailers and part distributors to equipment service companies. The company also provides a logistics and warehousing solution for consumers to ensure there are always parts in stock.
Capitala is run by Chief Executive Officer Joe Alala III. The company is a $2.7 billion asset management firm that provides capital to lower and traditional middle market businesses throughout the United States.
Since the company’s birth in 1998, Capitala has invested in over 150 companies and continues to seek partnerships with strong management teams to create better value and outcomes for their investors.
“We are excited to have led the financing, and to partner with the teams at Freedom Electronics and Summit Park, to help the Company accelerate its development,” said Alala in a statement.
“Freedom was ready to embark on their next chapter of growth and we believe they are well-positioned for future success.”
Capitala’s stock rose 5 cents to $7.55 in Thursday morning trading.
This story is from the North Carolina Business News Wire, a service of UNC-Chapel Hill’s School of Media and Journalism.