American Capital's Sponsor Finance Group Invests Over $300 Million in 28 Companies in 2012
BETHESDA, Md., Feb. 4, 2013 /PRNewswire/ -- American Capital, Ltd. (Nasdaq: ACAS) ("American Capital") announced today that in 2012 it, along with its affiliate European Capital Limited ("European Capital"), invested over $300 million in 28 new and existing companies. These investments were led by American Capital's offices in the United States and Europe and were made in support of leading private equity firms' company buyouts, refinancings, add-on acquisitions, dividend recapitalizations and growth opportunities.
"In 2012, our Sponsor Finance Group was successful in sourcing and closing attractive new investment opportunities by working closely with some of the best private equity firms in the United States and Europe," said Adam Spence, Managing Director, American Capital. "We very much look forward to continuing to deepen and expand our sponsor relationships as we seek to aggressively put capital to work in 2013 and beyond."
"Our ability to provide flexible financing solutions of up to $150 million in senior, mezzanine, second lien, unitranche and equity co-investment, as well as our responsive execution with a global underwriting platform and commitment to growing portfolio companies make American Capital an ideal investment partner for sponsors, lenders and management teams," added Bowen Diehl, Managing Director, American Capital.
"American Capital and European Capital's ability to support global businesses in their development both in North America and Europe is a unique value proposition highly recognized by the sponsors and management teams we work with," said Tristan Parisot, Managing Director, European Capital Financial Services Limited. "The multi-currency financing adapted to every situation is also strong evidence of our global coverage and our flexibility."
A summary of selected transactions is outlined below.
Aderant Holdings, Inc.
In December 2012, American Capital invested in first and second lien facilities to support a private equity firm in its purchase of Aderant Holdings, Inc., a global provider of comprehensive business management software for law and professional services firms.
AmWINs Group, Inc.
In June 2012, American Capital invested in a second lien facility to support a private equity firm in its purchase of AmWINs Group, Inc., a leading wholesale insurance broker.
CAMP Systems International
In May 2012, American Capital invested in a second lien facility to support a private equity firm in its purchase of CAMP Systems International, a leading provider of subscription-based maintenance tracking information services to the corporate aviation market. CAMP Systems International has been a portfolio company of American Capital since 2007 when American Capital invested in a second lien facility to support its recapitalization led by a private equity firm.
Consolidated Precision Products
In December 2012, American Capital invested in a second lien facility to support a private equity firm in its purchase of Consolidated Precision Products, a global aerospace castings manufacturer for the commercial aerospace, military and industrial markets.
The Flexitallic Group
In July 2012, European Capital invested in unitranche bonds to support a private equity firm in the refinancing of The Flexitallic Group, formerly the FDS Group. In December 2012, European Capital invested in unitranche bonds to support The Flexitallic Group's add-on acquisition of Custom Rubber Products, a manufacturer of elastomer, phenolics, and thermoset plastic products for upstream and midstream oilfield and industrial markets. The Flexitallic Group is an international market leader in the manufacturing and distribution of high-end sealing solutions.
Sage Products, Inc.
In December 2012, American Capital invested in a second lien facility to support a private equity firm in its purchase of Sage Products, Inc., a leading healthcare products manufacturer focused on innovative infection prevention and patient safety products.
Tomkins Air Distribution, Inc.
In November 2012, American Capital invested in a second lien facility to support a private equity firm in its purchase of Tomkins Air Distribution, Inc., a leading provider of ventilation solutions to non-residential and residential buildings.
Transtar Holding Company
In October 2012, American Capital invested in a second lien facility to support a private equity firm in the dividend recapitalization of Transtar Holding Company, a leading distributor of automotive aftermarket parts.
In September 2012, European Capital invested in unitranche bonds to support a private equity firm in its purchase of Unipex Group, a global distributor of natural active ingredients and specialty chemicals for the cosmetic, pharmaceutical, nutrition and industrial sectors. Unipex Group has been a portfolio company of European Capital since 2008 when European Capital invested in a mezzanine facility then put in place to support the spin-off of Unipex Group from Atrium Innovations, led by a private equity firm.
American Capital and its affiliated funds have invested approximately $31 billion in over 540 portfolio companies both directly and in support of leading financial partners in change of control transactions. For more information about American Capital's portfolio, go to http://www.americancapital.com/Pages/our_portfolio/our_portfolio.aspx.
ABOUT AMERICAN CAPITAL
American Capital 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 and structured products. American Capital manages $18.6 billion of assets, including assets on its balance sheet and fee earning assets under management by affiliated managers, with $118 billion of total assets under management (including levered assets). American Capital, through a wholly-owned portfolio company, manages publicly traded American Capital Agency Corp. (NASDAQ: AGNC) with approximately $10 billion market capitalization and American Capital Mortgage Investment Corp. (NASDAQ: MTGE) with approximately $850 million market capitalization. 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 EUROPEAN CAPITAL
European Capital is an investment company for pan-European equity, mezzanine and senior debt investments with €1.2 billion in assets under management. European Capital is a wholly-owned affiliate of American Capital. It is managed by European Capital Financial Services (Guernsey) Limited ("ECFSG" or the "Investment Manager"), a wholly-owned affiliate of American Capital. The Investment Manager has offices in London and Paris. As of 31 December 2012 the Investment Manager had 5 investment teams with 22 investment professionals and employed 27 support staff. European Capital and its affiliates will consider senior and mezzanine debt investment opportunities from 10 million to 40 million in either euros or sterling and up to 400 million for One Stop Buyouts®. For further information, please refer to www.EuropeanCapital.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.
Adam Spence, Managing Director, American Capital
Bowen Diehl, Managing Director, American Capital
Tristan Parisot, Managing Director, European Capital Financial Services Limited
SOURCE American Capital, Ltd.