Capital Southwest, an internally managed business development company, backed BRS’ majority recapitalization of Shearwater Research with a revolving credit facility, first lien term loan, delayed draw term loan and a minority equity co-investment. Capital Southwest led the financing and will act as the sole administrative agent on the credit facilities.

“We are thrilled to partner with BRS on its investment in Shearwater,” Josh Weinstein, senior managing director of Capital Southwest, said.

“The company has developed a strong reputation as one of the premier global providers of dive computers and related technologies,” Spencer Klein, senior vice president of Capital Southwest, said. “We’re excited to support BRS as they leverage their expertise in consumer products to help accelerate the company’s growth and continue the development of new products. Shearwater is well-positioned to benefit from the resumption of dive trips as travel restrictions continue to subside worldwide.”

Founded in 2004 and headquartered near Vancouver, Shearwater Research designs and manufactures dive computers and rebreather electronics for technical and recreational diving.