The Zacks Analyst Blog Highlights:ABM Industries, American Capital, Carlyle Group, Medallion Financial and ICG Group
CHICAGO, Feb. 22, 2013 /PRNewswire/ -- Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include ABM Industries Incorporated (NYSE: ABM), American Capital, Ltd. (Nasdaq: ACAS), The Carlyle Group LP (Nasdaq: CG), Medallion Financial Corp. (Nasdaq: TAXI) and ICG Group Inc. (Nasdaq: ICGE).
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Here are highlights from Thursday's Analyst Blog:
New Parking Lot Technology from ABM
ABM Industries Incorporated (NYSE: ABM) recently introduced a slew of innovative parking solutions to augment the parking experience of its clients.
ABM Parking Services, formerly known as Ampco Parking Services, has expertise in serving a variety of clients and addressing their challenges on a regular basis. In addition to the typical cashier and valet services required by office complexes and sporting venues, the company provides a variety of other parking and transportation services to several different industries.
The company has partnered with ParkMe to create a customized mobile application which gives clients access to ABM's parking database to help them provide parking based on location, price, vehicle type, and garage occupancy. With the technological upgrades, ABM has tried to offer clients visual guidance to the floor where the vehicle is parked. Additionally, ABM teamed with QuickPay to introduce pay-by-phone services, which enable drivers to use mobile phones to pay for parking at ABM-operated facilities and also receive text message alerts when their pre-paid time is running out. In addition, it also gives them access to several other related services.
As one of the largest parking operators in the country, one of the main expertise of ABM Parking Services is managing the complex parking operations in the office building and multi-use segment. Also, with the facility of the new website, clients have ready access to the services of parking. Through the website, drivers can easily find parking locations, make reservations, download coupons and sign-up for monthly parking facilities. The financial and technological support enables the company to cater to the requirements of its clients and thereby offer them with innovative services.
American Capital Divests Paradigm
American Capital, Ltd. (Nasdaq: ACAS) declared the divesture of its portfolio company Paradigm Precision Holdings, LLC to Dynamic Precision Group – a portfolio company of The Carlyle Group LP (Nasdaq: CG). The sale took place on Jan 31 this year.
American Capital received $127 million for the deal in debt and equity income, whereas its affiliated funds received $2 million, inclusive of post-closing adjustments.
Earlier in 2007, American Capital and an affiliate invested in Paradigm Precision for the One Stop Buyouts of Smith West Inc., Palmer Manufacturing Co. Inc. and Eurocast S.A. Later, in Sep 2008, American Capital invested in Paradigm Precision for the acquisition of TM Industries, Inc.
Based in Peabody, Mass., Paradigm Precision is a premier global supplier of precision aerospace components for jet engine manufacturers in both domestic as well as global markets. It produces highly complex, close tolerance parts and assemblies primarily used in aircraft engine and industrial gas turbines. Along with working with all of the major turbine engine original equipment manufacturers, the company provides parts used in land-based power generation and other specialty applications. It also has additional facilities in Mass., Conn., Ariz., Mexico, and Tunisia.
Also, in 2012, American Capital divested its portfolio company Aptara Inc. to iEnergizer Limited for $144 million. Of the proceeds, American Capital and its associates received $134 million, subject to post-closing adjustments, out of which about $108 million was solely received by American Capital.
American Capital directly and through its asset management business, initiates, underwrites and manages investments in middle-market private equity, leveraged finance, real estate and structured products. Since its IPO in 1997 through the fourth quarter of 2012, the company has earned 27% compounded annual return on the exit of its equity investments, including dividends, fees and net gains.
American Capital carries a Zacks Rank #1 (Strong Buy). Other companies in the same industry with Zacks Rank #1 (Strong Buy) include Medallion Financial Corp. (Nasdaq: TAXI) and ICG Group Inc. (Nasdaq: ICGE).
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