American Capital Completes the Syndication of Over $240 Million in Credit Facilities for Three Portfolio Companies
15 9월 2007 - 4:32AM
PR Newswire (US)
BETHESDA, Md., Sept. 14 /PRNewswire-FirstCall/ -- American Capital
Strategies Ltd. (NASDAQ:ACAS) announced today that it has
successfully syndicated over $240 million in credit facilities for
three portfolio companies, Exstream Software LLC, triVIN Inc. and
Barton Cotton Inc., in which American Capital and affiliates
originally committed $798 million in One Stop Buyouts. American
Capital now has $526 million invested in these companies. These
credit facilities were syndicated to approximately 25 institutions.
"Despite the current volatility within broader credit markets,
American Capital continues to be successful in syndicating senior
credit facilities for its middle market portfolio companies. We
have the largest middle market deal flow in our industry and are
thereby extraordinarily selective as to companies in which we
invest. This has allowed us to grow a portfolio of strong portfolio
companies, which other financial institutions find attractive,"
said Tom McHale, American Capital Senior Vice President of Finance.
"Our Syndications Group has significant experience in structuring,
pricing, and syndicating senior debt facilities for transactions in
a variety of industries. The group has worked with a wide range of
distinguished financial institutions and senior loan market
investors in syndicating these three syndicated transactions, and
will continue to utilize their broad stable of investor
relationships in transactions going forward." Exstream Software LLC
On September 12, 2007, American Capital completed the syndication
of $141 million first lien credit facility consisting of a
revolving credit facility and first lien term loan for portfolio
company Exstream Software LLC, a leading provider of enterprise
software for the rapid design and delivery of personalized
communications. On June 22, 2007, American Capital invested in the
One Stop Buyout(TM) of Exstream Software. American Capital's
investment took the form of a revolving credit facility, first lien
term loan, senior and junior subordinated debt and convertible
preferred and common equity. Founded in 1998, Exstream Software is
an enterprise software provider whose flagship product, Dialogue,
is a comprehensive platform for building and deploying high-volume
and interactive document applications across the enterprise. It was
designed with an open architecture and robust functionality to
connect easily with an enterprise's data sources, systems and web
infrastructure. With just one solution, customers can create
relevant and timely communications that connect with their
customers at every touch point. Companies that adopt Dialogue
report significantly reduced costs, fewer calls to customer service
and tripled response rates. Exstream's recently released Dialogue
Live, which is fully integrated with Dialogue 6.0, also automates
integration of field-edited documents with centralized corporate
systems and document production. Consistently ranked among the
fastest growing technology companies, Exstream has more than 300
employees and more than 400 blue-chip and middle market customers
in a variety of industries worldwide. For more information on
American Capital's investment in Exstream Software, go to
http://www.acas.com/news/newsreleases/2007/pr20070628-1.html.
triVIN Inc. On August 28, 2007, American Capital completed the
syndication of a $34 million first lien credit facility consisting
of a revolving credit facility and first lien term loan for
portfolio company triVIN Inc., a leading provider of title
management services to automobile lenders and electronic vehicle
registration services to automobile dealers. On June 6, 2007,
American Capital and an affiliate invested in the One Stop
Buyout(TM) of triVIN. American Capital's investment took the form
of a revolving credit facility, senior term loan, senior and junior
subordinated debt and convertible preferred and common equity.
American Capital Equity Fund I LLC, a fund managed by American
Capital, provided 30% of the American Capital equity investment.
triVIN consists of two wholly-owned subsidiaries, FDI Collateral
Management Inc. ("FDI") and General Systems Solutions Inc. ("GSS").
FDI provides third-party electronic and paper-based lien and title
solutions that allow lenders to outsource the management of vehicle
titles held as collateral for loans. GSS provides electronic
vehicle registration software and services that allow auto dealers
and fleet companies to electronically register vehicles directly
with state Departments of Motor Vehicles. FDI provides vehicle
title administration services to some of the nation's largest banks
and captive automotive finance companies. GSS's customers are
franchised and independent automobile dealers, as well as national
fleet and rental companies. triVIN is headquartered in Groton, CT
and has facilities in Vooreheesville, NY and Sacramento, CA. triVIN
has more than 600 employees. For more information on American
Capital's investment in triVIN, go to
http://www.acas.com/news/newsreleases/2007/pr20070626.html. Barton
Cotton Inc. On August 9, 2007, American Capital completed the
syndication of a $65 million first lien credit facility consisting
of a revolving credit facility and first lien term loan for Barton
Cotton Inc., the leading provider of integrated direct marketing
fundraising services to non-profit organizations ("NPOs"). On April
25, 2006, American Capital invested in the One Stop Buyout(TM) of
Barton Cotton. American Capital's investment took the form of a
revolving credit facility, first lien term loan, subordinated debt
and equity. Barton Cotton has grown over almost 80 years into a
leading agency serving some of the world's best known nonprofit
organizations. With full-service capabilities that include
strategy, analytics of donor behavior, creative, affinity
marketing, DRTV, internet marketing and public relations, the
company has helped over 150 nonprofit groups meet and exceed their
fundraising objectives. Barton Cotton uses a proprietary
methodology of algorithms to measure an organization's Donor
Momentum(TM); a calculation that studies donor behavior to assess
past fundraising performance and accurately forecast future
revenues. Barton Cotton is headquartered in the
Baltimore-Washington corridor and is one of the country's oldest
and most venerated firms serving the nonprofit industry. For more
information on American Capital investment in Barton Cotton, go to
http://www.acas.com/news/newsreleases/2006/pr20060502.html. ABOUT
AMERICAN CAPITAL American Capital is the only alternative asset
management company that is a member of the S&P 500. With $17
billion in assets under management(1), including its investments in
externally managed funds, American Capital is the largest U.S.
publicly traded private equity fund and one of the largest publicly
traded alternative asset managers. American Capital, both directly
and through its global asset management business, is an investor in
management and employee buyouts, private equity buyouts, and early
stage and mature private and public companies. American Capital
provides senior debt, mezzanine debt and equity to fund growth,
acquisitions, recapitalizations and securitizations. American
Capital and its affiliates invest from $5 million to $800 million
per company in North America and euro 5 million to euro 500 million
per company in Europe. 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/ or
http://www.europeancapital.com/. (1) Assets Under Management is an
estimate of internally and externally managed assets as of July 31,
2007 and does not include any fair value adjustments subsequent to
June 30, 2007. 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: Tom McHale,
Senior Vice President, Finance of American Capital Strategies Ltd.,
+1-301-951-6122 Web site: http://www.americancapital.com/
http://www.europeancapital.com/
http://www.acas.com/news/newsreleases/2007/pr20070628-1.html
http://www.acas.com/news/newsreleases/2007/pr20070626.html
http://www.acas.com/news/newsreleases/2006/pr20060502.html
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