American Capital Appoints Greg Smitherman Managing Director, Technology Group
12 9월 2006 - 5:34AM
PR Newswire (US)
BETHESDA, Md., Sept. 11 /PRNewswire-FirstCall/ -- American Capital
Strategies Ltd. (NASDAQ:ACAS) announced today the appointment of
Greg Smitherman as Managing Director. He is working in the
Technology Group's Palo Alto, California office. Mr. Smitherman
brings over 18 years of investing and acquisition experience in the
enterprise infrastructure, communications, networking and
electronics sectors. "We are pleased to announce that Greg
Smitherman has joined the American Capital Technology Group,
further enriching our group," said American Capital Managing
Director Gordon O'Brien. "Greg, with his exceptional experience
investing in the technology sector, will play a key role in the
Technology Group's growth and development." American Capital has
invested $5 billion in the last twelve months, approximately $3.5
billion year to date and $1 billion quarter 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.americancapital.com/our_portfolio/our_portfolio.cfm.
"Since the inception of the American Capital Technology Group, we
have been focused on building a world class team," said American
Capital Managing Director and Group Head Virginia M. Turezyn. "We
have deep technical and strong operating team members and Greg is a
valued addition. He brings a blend of technical, analytical, and
senior management skills for us to leverage as we pursue a robust
pipeline of investment opportunities. Our strategy is to evaluate
and invest in a broad range of venture and technology opportunities
and collaborate with other groups in the firm, as appropriate, to
offer a full suite of offerings to prospective clients ranging from
early stage growth equity to expansion capital and debt financing."
"I am delighted to be joining the outstanding American Capital
organization and excited about being part of expanding this
important initiative within the firm," said American Capital
Managing Director Greg Smitherman. "We believe that the American
Capital Operations Team, whose extensive experience in evaluating
business process, implementing change and creating financial
stability and strength in a wide range of portfolio companies will
be a key leverage point for the advancement of early stage as well
as mature technology company investments." Prior to joining
American Capital, Mr. Smitherman was a partner at Advent
International, a $10 billion global private equity firm. Before
joining Advent, he was with Ameritech Development's venture capital
and acquisition group for nine years. He has served on numerous
boards of technology companies and on the investment committee of
TMT Ventures, a venture fund focused on the communications,
technology, e-commerce and media sectors. Mr. Smitherman earned a
B.S.E. in aerospace engineering, summa cum laude, from the
University of Michigan and an M.B.A. from the University of
Chicago. ABOUT AMERICAN CAPITAL TECHNOLOGY American Capital has
approximately $1 billion in technology investments in its existing
portfolio. These companies generally are mature, high performing,
cash flowing companies with excellent growth rates. They operate
across many industry sectors and are driven by a broad range of
technologies. The Technology Group extends American Capital's
existing technology investment business by investing in earlier
stage technology companies. The American Capital Technology Group
invests in early, middle and late stage technology companies as
well as mature companies driven in significant part by a specific
technology. With the flexibility to invest senior debt,
subordinated debt and equity from $5 million in early stage
companies to $400 million in more established companies, the
American Capital Technology Group can leverage its capital base and
domain expertise to build category-leading companies. ABOUT
AMERICAN CAPITAL American Capital is a publicly traded buyout and
mezzanine fund with capital resources of $8.9 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. American Capital provides
senior debt, mezzanine debt and equity to fund growth,
acquisitions, recapitalizations and securitizations. American
Capital invests up to $400 million per company. As of August 31,
2006, American Capital shareholders have enjoyed a total return of
476% since the Company's IPO -- an annualized return of 21%,
assuming reinvestment of dividends. American Capital has paid a
total of $1.2 billion in dividends and paid or declared $21.56
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: Virginia M.
Turezyn, Managing Director, Technology Group, +1-650-289-4560, Greg
Smitherman, Managing Director, Technology Group, +1-650-289-4560,
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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