American Capital Invests $15 Million in Leading Manufacturer of Heat Induction Foil Seals
25 5월 2005 - 7:23AM
PR Newswire (US)
American Capital Invests $15 Million in Leading Manufacturer of
Heat Induction Foil Seals BETHESDA, Md., May 24
/PRNewswire-FirstCall/ -- American Capital Strategies Ltd.
(NASDAQ:ACAS) announced today it has invested $15 million in Selig
Sealing Products Inc., a leading North American manufacturer of
heat induction foil seals for plastic containers. American
Capital's investment takes the form of a senior term loan and
supports Behrman Capital's acquisition of Selig. Madison Capital is
providing a revolving credit facility and senior term loans. Selig
management is rolling over their equity investment. "This is our
third time working with Behrman Capital and we are pleased that
they continue to turn to us for financing in support of their
buyouts," said American Capital COO Ira Wagner. "Selig's line of
sealing products, which ensure the security and freshness of many
common household items and pharmaceuticals, are sold into
non-cyclical end markets and generate strong free cash flows. These
attributes make Selig a great investment opportunity." American
Capital has invested over $2.4 billion in the last twelve months,
$760 million year to date and over $350 million quarter to date.
For more information about American Capital's portfolio, go to
http://www.acas.com/our_portfolio/our_portfolio.cfm. "Selig's
manufacturing efficiencies, full product line and top performing
technology have made it the leader in the North American induction
sealing market. In addition, Selig's product superiority and
outstanding customer service have enabled it to develop stable,
long-standing customer relationships," said American Capital
Managing Director David Ehrenfest Steinglass. "We believe that
under the leadership of President and CEO Steve Cassidy, a
packaging industry veteran, Selig will capitalize on international
expansion opportunities as well as organic domestic market growth
driven by a growing demand for tamper-evident packaging and a
conversion to plastic containers." Founded in 1972, Forrest,
IL-headquartered Selig Sealing Products was the first company to
develop a foil seal to prevent the leakage of plastic bottles and
also, through partnering with 3M, introduced the first U.S. Food
and Drug Administration approved tamper-evident closure foil liner.
The Company's seals are found on bottles of over-the-counter pain
relievers and peanut butter jars, as well as ketchup bottles,
sports drinks, nutraceuticals and automotive and other industrial
products. ABOUT AMERICAN CAPITAL American Capital is a publicly
traded buyout and mezzanine fund with capital resources of
approximately $5.2 billion. American Capital is an investor in and
sponsor of management and employee buyouts, invests in private
equity buyouts, and provides capital directly to private and small
public companies. American Capital provides senior debt, mezzanine
debt and equity to fund growth, acquisitions and recapitalizations.
As of March 31, 2005, American Capital shareholders have enjoyed a
total return of 311% since the Company's IPO -- an annualized
return of 21%, assuming reinvestment of dividends. Ending March 31,
2005, American Capital has outperformed 99% of all public companies
based on annual returns in each of the past 1, 3, 5 and 7 year time
periods. American Capital has paid a total of $717 million in
dividends and paid or declared $17.51 dividends per share since its
August 1997 IPO at $15 per share. Companies interested in learning
more about American Capital's flexible financing should contact
Mark Opel, Senior Vice President, Business Development, at (800)
248-9340, or visit our website at http://www.americancapital.com/.
Performance data quoted above represents past performance of
American Capital. Past performance does not guarantee future
results and the investment return and principal value of an
investment in American Capital will likely fluctuate. Consequently,
an investor's shares, when sold, may be worth more or less than
their original cost. Additionally, American Capital's current
performance may be lower or higher than the performance data quoted
above. ABOUT BEHRMAN CAPITAL Based in New York City and San
Francisco, Behrman Capital was founded in 1992 by Grant G. Behrman
and Darryl G. Behrman. The firm invests in management buyouts,
leveraged buildups and recapitalizations of established growth
companies and provides expansion capital to emerging growth
companies. The company's investments are focused primarily in four
industries: information technology, contract manufacturing,
outsourcing and healthcare. The firm currently has a combined
capital base of $1.8 billion. Portfolio companies include: Athena
Diagnostics, a provider of comprehensive neurological testing
services; Hunter Defense Technologies, a manufacturer of heaters
and nuclear, biological and chemical filtration systems and
filters; and ILC Industries Inc., a provider of defense electronics
and engineered softgoods. This press release contains
forward-looking statements. The statements regarding expected
results of American Capital Strategies 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.
DATASOURCE: American Capital Strategies Ltd. CONTACT: David
Ehrenfest Steinglass, Managing Director, or Brian Maney, Director,
Corporate Communications, both of American Capital Strategies Ltd.,
+1-301-951-6122 Web site: http://www.americancapital.com/
http://www.acas.com/our_portfolio/our_portfolio.cfm
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