American Capital Merges Three Portfolio Companies
26 1월 2006 - 12:13AM
PR Newswire (US)
Creates Global Leader in Radiation Measurement & Protection
BETHESDA, Md., Jan. 25 /PRNewswire-FirstCall/ -- American Capital
Strategies Ltd. (NASDAQ:ACAS) announced today the formation of
Mirion Technologies Inc., through the merger of its U.S. portfolio
companies Global Dosimetry Solutions Inc. and Imaging and Sensing
Technology Corporation with its French portfolio company synOdys
Group SA. Tom Logan, the prior CEO of Global Dosimetry, will lead
the combined company as its CEO. No new financing is being provided
as part of this merger. American Capital investments in these
companies took the form of subordinated debt and preferred and
common equity and total $244 million. American Capital is the
majority shareholder and Company management owns a minority of the
common equity. "The merger of three highly profitable leaders in
the radiation measurement and protection industry creates a
dominant global player with leading positions in the nuclear power
instrumentation, civil and military defense, and health physics
markets," said American Capital Chief Operating Officer Ira Wagner.
"This transaction is emblematic of American Capital's success in
building a franchise in the middle market. With leadership provided
by our New York Investment Team headed by Robert Klein, our
Business Development and Marketing Team, Financial Analysis and
Compliance Team (FACT), Legal Department and Operations Team all
contributed to building and creating value in the formation of
Mirion Technologies." American Capital has invested approximately
$3.2 billion in 2005, approximately $1 billion in the fourth
quarter 2005 and $77 million year to date. These amounts do not
include American Capital's unfunded equity commitment to its
affiliate European Capital. For more information about American
Capital's portfolio go to
http://www.acas.com/our_portfolio/our_portfolio.cfm. "The
establishment of Mirion Technologies is the next step in the
evolution of a market leader. The merger of these three companies
provides revenue diversification across customers, product lines,
end markets and geography. In addition, the merger positions the
three companies to take advantage of cross selling opportunities,
create cost savings through consolidation, and provides for the
enhanced sharing of best practices and research and development
innovations," said American Capital Managing Director Robert Klein.
"We are excited to back management as they extend their leadership
positions in these dynamic markets, particularly as it relates to
the imminent buildout of Chinese nuclear capacity," added American
Capital Principal Todd Wilson. "Mirion Technologies is
well-positioned to extend its global franchise, based upon the
renaissance of the global nuclear power industry, continued global
demands for homeland security and defense solutions, and increased
utilization of radiological medical applications," said Mirion
Technologies Chairman and CEO Tom Logan. "We expect to sustain our
legacy of strong organic and acquisitive growth as these markets
continue to evolve." In 2003, American Capital invested $49 million
to acquire Global Dosimetry Solutions, one of the world's largest
providers of radiation dosimetry services. In 2004, American
Capital invested $45 million in the acquisition of Imaging and
Sensing Technology Corporation, a leading designer and assembler of
equipment for use in nuclear power plants, and $72 million in the
acquisition of synOdys Group SA, a leading manufacturer of systems
and equipment to protect people and goods from nuclear, biological
and chemical risks. In addition, American Capital has financed
three add-on acquisitions across the companies that now comprise
Mirion Technologies. American Capital investments in companies
serving the nuclear power industry also include PaR Nuclear Holding
Company Inc., a leader in the design, assembly, installation and
service of large-scale, high-precision robotic systems. ABOUT
AMERICAN CAPITAL American Capital is a publicly traded buyout and
mezzanine fund with capital resources of approximately $7 billion.
American Capital invests in and sponsors management and employee
buyouts, invests in private equity buyouts, provides capital
directly to private and small public companies and through its
asset management business is a manager of debt and equity
investments in private companies and commercial loan obligations.
American Capital provides senior debt, mezzanine debt and equity to
fund growth, acquisitions, recapitalizations and securitizations.
As of December 31, 2005, American Capital shareholders have enjoyed
a total return of 412% since the Company's IPO -- an annualized
return of 22%, assuming reinvestment of dividends. American Capital
has paid a total of $868 million in dividends and paid $19.11
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
http://www.americancapital.com/. ABOUT MIRION TECHNOLOGIES Mirion
Technologies generated approximately $150 million in revenue from a
diverse global client base in 2005. The Company employs 742 people
worldwide, at its facilities in France, Germany, the United
Kingdom, Finland, China, Canada and the United States. Mirion
Technologies will be headquartered in the San Francisco area.
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. 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. First Call Analyst:
FCMN Contact: Agnieszka.Opalka@AmericanCapital.com DATASOURCE:
American Capital Strategies Ltd. CONTACT: Robert Klein, Managing
Director, +1-212-213-2009, Todd Wilson, Principal, +1-212-213-2009
or Brian Maney, Director, Corporate Communications,
+1-301-951-6122, all of American Capital Strategies Ltd. Web site:
http://www.americancapital.com/
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