2014

American Capital Commits $71 Million to Support the Acquisition of Luminator Technology Group

BETHESDA, Md., April 14, 2014 /PRNewswire/ -- American Capital, Ltd. (Nasdaq: ACAS) ("American Capital") announced today that it has committed $71 million to support the acquisition of Luminator Technology Group ("Luminator") by Audax Group ("Audax").  Luminator is a leading designer and manufacturer of highly-engineered display, lighting and passenger communication systems for the global mass transportation market.  Headquartered in Plano, TX, with additional operations in Denmark, Germany, Sweden, Brazil and Australia, Luminator serves OEMs and operators in the city bus, rail and aerospace markets worldwide.  American Capital's investment takes the form of a second lien term loan, committed delayed draw facility and common equity.

"American Capital has partnered with Audax on numerous investments over the years and we are delighted to have the opportunity to work together again by providing financing for this very attractive investment," said Dan Cohn-Sfetcu, Managing Director, Sponsor Finance.  "With more than 15,000 customers in approximately 80 countries, and facilities strategically located in key markets, Luminator is well-positioned to capitalize on global growth drivers that are increasing the demand for mass transportation across both developed and emerging markets."

"Over its 80 year history, Luminator has helped drive innovation in its served mass transportation markets across multiple technological cycles, and its products are recognized throughout the industry for their high quality and performance achieved through world class engineering innovation and design," said Ryan Brauns, Managing Director and Head of Sponsor Finance.  "Our Sponsor Finance Group is solely focused on supporting top tier private equity firms by committing up to $150 million in capital to strong, leading middle market companies such as Luminator."

"American Capital's ability to provide creative and flexible financing solutions, their responsiveness throughout execution of the transaction, and their commitment to support the long-term growth of our portfolio companies makes American Capital an excellent investment partner," said Mark Cordes, Managing Director, Audax.

American Capital and its affiliated funds have invested approximately $11 billion in over 250 portfolio companies in support of leading private equity firms' company buyouts, refinancings, add-on acquisitions, dividend recapitalizations and growth opportunities. For more information about American Capital's portfolio, go to www.americancapital.com/our-portfolio.

ABOUT AMERICAN CAPITAL
American Capital, Ltd. (Nasdaq: ACAS) is a publicly traded private equity firm and global asset manager.  American Capital, both directly and through its asset management business, originates, underwrites and manages investments in middle market private equity, leveraged finance, real estate, energy & infrastructure and structured products.  American Capital manages $19 billion of assets, including assets on its balance sheet and fee earning assets under management by affiliated managers, with $93 billion of total assets under management (including levered assets).  Through an affiliate, American Capital manages publicly traded American Capital Agency Corp. (Nasdaq: AGNC) with approximately $9 billion of net book value, American Capital Mortgage Investment Corp. (Nasdaq: MTGE) with approximately $1 billion of net book value and American Capital Senior Floating, Ltd. (Nasdaq: ACSF).  From its eight offices in the U.S. and Europe, American Capital and its affiliate, European Capital, will consider investment opportunities from $10 million to $750 million.  For further information, please refer to www.AmericanCapital.com.

ABOUT AUDAX GROUP
Audax Group, founded in 1999, is a leading investor in lower-middle market companies. With offices in Boston and New York, Audax has over $5 billion in assets under management in its private equity, mezzanine and senior debt businesses.  For more information, please refer to www.audaxgroup.com.

This press release contains forward-looking statements. The statements regarding expected results of American Capital are subject to various factors and uncertainties, including the uncertainties associated with the timing of transaction closings, changes in interest rates, availability of transactions, changes in regional, national or international economic conditions, or changes in the conditions of the industries in which American Capital has made investments.

Contact: (212) 213-2009
Ryan Brauns, Managing Director and Head of Sponsor Finance
Dan Cohn-Sfetcu, Managing Director, Sponsor Finance

SOURCE American Capital, Ltd.



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