Capital Southwest announced the appointment of Michael S. Sarner as senior vice president of the company, effective on or before August 1, 2015. Following the previously announced spin-off transaction, Sarner will be appointed chief financial officer of the business development company (BDC).

“We continue to build an exceptional team at Capital Southwest in preparation for the upcoming spin-off, and the addition of Michael as the BDC’s chief financial officer is an integral piece of the puzzle,” said Bowen S. Diehl, chief investment officer of Capital Southwest. “Michael has deep financial and BDC experience, having engaged in all aspects of the debt capital markets including raising, refinancing and restructuring debt, as well as significant experience in capital allocation, liquidity planning, compliance and reporting. I’ve known and worked with Michael for years, and I am excited and grateful that he will be joining us in Texas to partner with me and the team in building the new Capital Southwest.”

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 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.

Dallas, TX-based Capital Southwest publicly traded business development company, with approximately $775 million in assets. On December 2, 2014, Capital Southwest announced its intent to separate into two public companies through the spin-off of certain of its control assets into a diversified industrial growth company, CSW Industrials and the refocusing of the BDC on lending to strong middle market companies. As a result, Capital Southwest is currently active in the market executing its new investment strategy focused on investments ranging from $5 million to $20 million in senior unitranche debt, second lien and subordinated debt, as well as equity co-investments in support of the acquisition and growth of middle market companies.