Antares Capital and American Capital Announce $170 Million Unitranche Financing for Snow Phipps' Acquisition of Kele

Nov 06, 2015, 10:01 ET from Antares Capital from ,American Capital, Ltd.

CHICAGO and BETHESDA, Md., Nov. 6, 2015 /PRNewswire/ -- Antares Capital ("Antares") and American Capital, Ltd. (Nasdaq: ACAS) ("American Capital") announced today that they were co-lead arrangers of a $170 million unitranche facility to support the acquisition of Kele, Inc. ("Kele") by Snow Phipps Group, LLC ("Snow Phipps").  Antares Capital acted as Agent.  Kele is an independent distributor of peripheral control products used in building automation systems of commercial buildings in North America.    

Douglas Cannaliato, Senior Managing Director at Antares Capital, said, "We're thrilled to be lead arranger of this financing for Snow Phipps, continuing our decade-long relationship with Kele.  We have a lot of confidence in management and a history of successful partnering with Snow Phipps."   

Ryan Brauns, Managing Director and Head of Sponsor Finance at American Capital, said, "We are delighted to have closed our second transaction with Snow Phipps in the last twelve months and were glad to partner with Antares to provide a joint execution."

Founded in 1983 and headquartered in Memphis, TN, Kele supplies over 108,000 peripheral control products, including pressure controls, sensors, and control valves, that are critical components for commercial and industrial buildings to operate efficiently.  The products are used to detect and transmit information such as room temperature and humidity to building controllers, allowing building operators to manage internal environments, save on energy costs and keep expensive mechanical systems, such as large HVAC systems, running correctly.  

Sean Epps, Partner at Snow Phipps, said, "We appreciate the efforts of both the Antares and American Capital teams to support us in our acquisition of Kele.  We have enjoyed a long term relationship with Antares and are benefitting from a new relationship with American Capital and look forward to shared success and partnership with both in the future."

ABOUT ANTARES CAPITAL Antares Capital is the leading provider of financing solutions for middle-market, private equity-backed transactions with offices in Atlanta, Chicago, Los Angeles, New York, Norwalk (Connecticut) and Toronto.  Antares has provided more than $120 billion in financing over the past five years, and was named 2014 lender of the Year by Mergers & Acquisitions. Antares also was recognized by Private Debt Investor and Private Equity International as 2013 Lender of the Year, North America and Mid-Cap Lender of the Year, North America, respectively.  Visit us at www.Antares.com.

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 $23 billion of assets, including assets on its balance sheet and fee earning assets under management by affiliated managers, with $80 billion of total assets under management (including levered assets).  Through a wholly owned affiliate, American Capital manages publicly traded American Capital Agency Corp. (Nasdaq: AGNC), American Capital Mortgage Investment Corp. (Nasdaq: MTGE) and American Capital Senior Floating, Ltd. (Nasdaq: ACSF) with approximately $10 billion of total net book value.   From its eight offices in the U.S., Europe and Asia, American Capital and its wholly-owned affiliate, European Capital, will consider investment opportunities from $10 million to $600 million.  For further information, please refer to www.AmericanCapital.com

ABOUT SNOW PHIPPS
Snow Phipps is a private equity firm focused on middle-market control investments.  With $1.5 billion of assets currently under management, Snow Phipps targets platform companies with enterprise values ranging from $100 million to $500 million.  The firm utilizes an operating partner model to invest across select industries and seek value creation through an operationally focused strategy.  To learn more about Snow Phipps, visit www.SnowPhipps.com.

American Capital Contacts:
Investor Relations - (301) 951-5917
Media Relations - (301) 968-9400

Antares Capital Contact:
Carol Ann Wharton - (203) 229-1930

SOURCE Antares Capital; American Capital, Ltd.



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