Charlotte-based Capitala Group announced Tuesday that it led a $45 million investment in Sunset Digital Holding LLC.

The investment supports Georgia-based ITC Capital Partners in its acquisition of the BVU OptiNet fiber optic network by Sunset Digital. Sunset Digital is a fiber optics services company serving the southwest Virginia and northeast Tennessee regions.

Charlotte-based Capitala is a $2.7 billion asset management firm that provides capital to lower and traditional middle market businesses throughout North America.

The company was founded in 1998 by Joe Alala by the original name of CapitalSouth Partners. In 2013, CapitalSouth Partners rebranded as Capitala Group and completed its initial public offering of Capitala Finance Corp. and raised $80 million of new capital.

Capitala has invested in over 150 companies since its inception and seeks to partner with strong management teams to create value and achieve optimal outcomes for its investors.

In May, the firm opened its sixth U.S. office located in Manhattan. Other offices include locations such as Atlanta and Los Angeles.

Alala currently resides as chairman, president, chief investment officer and CEO of the company that he founded almost 20 years ago. In 2000, he was the youngest sponsor to ever receive an SBIC license in the history of the program.

The company’s stock was up 1 cent to $8.83 on Tuesday afternoon.