American Capital Invests $79 Million In One Stop Buyout(TM) of The Meadows of Wickenburg
04 3월 2006 - 4:55AM
PR Newswire (US)
BETHESDA, Md., March 3 /PRNewswire-FirstCall/ -- American Capital
Strategies Ltd. (NASDAQ:ACAS) announced today it has invested $79
million in the One Stop Buyout(TM) of The Meadows of Wickenburg
L.P., a premier multi- disorder inpatient facility specializing in
the treatment of a broad range of addictions. American Capital's
investment takes the form of senior debt, senior and junior
subordinated debt and preferred and common equity. American Capital
is also providing a revolving credit facility. Senior members of
the management and clinical teams are also investing in the equity.
Post close, American Capital owns approximately 88% of the Company,
on a fully diluted basis. "We are pleased to announce our One Stop
Buyout(TM) of The Meadows of Wickenburg. Our ability to fund
throughout the entire capital structure of a transaction makes us
an excellent partner for management teams seeking support for their
growth initiatives," said American Capital Regional Managing
Director Darin Winn. "We're supporting world-class management and
clinical teams who have developed a well-respected treatment model
providing high quality care to patients from around the world."
American Capital invested approximately $3.2 billion in the last
twelve months and $312 million year to date. These amounts do not
include American Capital's unfunded equity commitment and debt
funded to its portfolio company European Capital. For more
information about American Capital's portfolio, go to
http://www.americancapital.com/our_portfolio/our_portfolio.cfm.
"The treatment provided by The Meadows and the world renowned work
of its staff and Senior Fellows has established The Meadows as a
premier treatment program," said American Capital Principal Bowen
Diehl. "The Meadows is dedicated to providing its patients with
holistic care through treating emotions, body, mind and spirit."
"We find The Meadows' treatment programs intriguing as they not
only treat the symptoms of addiction, but they focus on the root
causes of the patients' disorders in a non-threatening
environment," said American Capital Vice President Kyle Bradford.
"At The Meadows many of the members of the staff offer their own
recovery experiences to further provide a comfortable and
understanding environment in which individuals can work with the
staff to identify and address the core patterns that have caused
the continual return to self-destructive behaviors." Founded in
1976, The Meadows is a multi-disorder treatment facility offering
treatment for psychological conditions, compulsive and addictive
behaviors, and affective disorders, such as post-traumatic stress,
alcoholism, drug addiction, sexual compulsivity/aversion, major
depression and bipolar disorders. Located on a 10 acre campus in
Wickenburg, Arizona, The Meadows consists of an inpatient facility
and an extended care facility. Treatment at The Meadows is
personalized to meet individual needs. A multidisciplinary team of
psychiatrists, psychologists and professional counselors work
cooperatively and consistently with dedication to the best interest
of each patient. The Meadows' intensive treatment program is 12
step-based and enhanced by a comprehensive program (The Meadows
Model) created by Pia Mellody and Pat Mellody, pioneers in the
field of recovery. The Meadows also offers workshops on its campus,
as well as around the country, which are conducted by its
professional staff. At these workshops, alumni can progress on
their road to recovery and counseling professionals can receive
training on the treatment principles of The Meadows Model. "With
the strong financial backing of American Capital, The Meadows is
primed to expand its programs to meet the demands of the treatment
community while maintaining the crucial integrity of The Meadows'
treatment model," said The Meadows Executive Director Bob Fulton.
"American Capital appreciates the growing need for treatment that
extends beyond the outward addictive behavior and addresses the
underlying issues that so often lead to the addiction and prevent
so many people from leading happy, productive lives. They respect
the importance of effective patient care and our treatment model
here at The Meadows," said Clinical Consultant and Senior Fellow to
The Meadows Pia Mellody. "We are excited to have such a partner
that will support us in expanding our work in reaching people in
need around the world." "I am pleased with American Capital's
interest in our program here at The Meadows and their desire to
support the team in continuing our traditions of intensive patient
treatment and strict confidentiality," said The Meadows Senior
Executive Director Pat Mellody. 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 early stage and mature
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. American
Capital can invest up to $300 million per transaction. As of
February 28, 2006, American Capital shareholders have enjoyed a
total return of 404% since the Company's IPO -- an annualized
return of 21%, assuming reinvestment of dividends. American Capital
has paid a total of $961 million in dividends and paid or declared
$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/. 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.
DATASOURCE: American Capital Strategies Ltd. CONTACT: Bowen Diehl,
Principal, +1-214-273-6632, or Kyle Bradford, Vice President,
+1-214-273-6637, 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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