American Capital's Portfolio Company SMG Acquires Premier Food Services

BETHESDA, Md., June 3, 2014 /PRNewswire/ -- American Capital, Ltd. (Nasdaq: ACAS) ("American Capital" or "the Company") announced today that its portfolio company SMG Holdings, Inc. ("SMG") has acquired Premier Food Services ("Premier"), a provider of outsourced food and beverage services in southern California.  SMG is a leading provider of entertainment and conference venue management services worldwide.

"As a global venue management company, SMG manages a large and broad portfolio of venues with exceptional diversity across event type, end market, attendee population demographic and geography," said Brian Graff, Senior Managing Director.  "Its acquisition of Premier provides SMG with an attractive opportunity to expand its food service offering outside of its core portfolio of arenas, stadiums and convention centers into business dining, schools and colleges, fairgrounds and off-premise catering." 

Founded in 1985, San Diego, CA based Premier is a provider of outsourced food and beverage services at entertainment venues, dining clubs, universities and businesses.  Its customers range from the State of California to higher education clients and blue chip aerospace and technology firms and include Del Mar Fairgrounds and Race Track, one of the most attended thoroughbred racing venues in the U.S., and the University of California, San Diego Faculty Club.  Premier's services include dining center and restaurant management, alcoholic beverage and food concessions, meeting facility management and special events management. 

"By combining Premier's solid presence in the San Diego market, business dining credentials and experience with SMG's national reach and extensive resources, SMG will be in a significantly stronger position to attract niche business dining foodservice contracts in southern California as well as across the country," said Helen Yang, Managing Director. 

"Premier is a perfect fit for our California SAVOR food business which includes the Long Beach Convention Center, The Aquarium of the Pacific, the Long Beach Grand Prix, the Moscone Center, the Ontario Convention Center and Fresno State University.  This acquisition will also provide a base of business to further expand SMG's SAVOR brand nationally," stated Wes Westley, SMG President and CEO.

Founded in 1977, Philadelphia, PA based SMG is the world's largest venue management company providing private management services to owners of public assembly facilities.  SMG provides construction and design consulting, pre-opening services, venue management, sales, marketing, event booking and programming.  SMG currently manages over 230 venues, including arenas, stadiums, convention centers, exhibition halls, science centers, trade centers, theaters and performing arts centers. SMG's facilities include stadiums such as the Mercedes-Benz Superdome, home of the New Orleans Saints, and Soldier Field, home of the Chicago Bears; convention centers McCormick Place in Chicago and Moscone Center in San Francisco; and the U.K. based Manchester Arena, the world's third largest arena.  SMG also offers food and beverage operations through its concessions, catering and special events division, SAVOR.  

American Capital invested in the One Stop Buyout® of SMG in June 2007.  For more information, please visit www.americancapital.com/our-portfolio/smg.  

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 $84 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) with approximately $151 million in net book value.  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.

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
Brian Graff, Senior Managing Director
Helen Yang, Managing Director, Buyouts Group
Jimmy Byun, Principal, Buyouts Group

SOURCE American Capital, Ltd.