American Capital Invests $11 Million in SIXNET for Add-On Acquisition
28 11월 2007 - 4:12AM
PR Newswire (US)
BETHESDA, Md., Nov. 27 /PRNewswire-FirstCall/ -- American Capital
Strategies Ltd. (NASDAQ:ACAS) announced today that it and its
affiliates have invested $11 million in its portfolio company
SIXNET Holdings, LLC to support the acquisition of BlueTree
Wireless Data Inc., a leading supplier of machine to machine (M2M)
cellular data products. SIXNET is a leading manufacturer of process
automation, Ethernet connectivity and landline modem products used
in harsh industrial, commercial and military applications. American
Capital's investment takes the form of an increase in its unirate
loan and additional common stock. American Capital Equity Fund I
LLC and American Capital Equity II LP, funds managed by American
Capital, respectively provided 30% and 16.7% of the American
Capital equity investment. Riverside Partners LLC and SIXNET CEO
Steve Schoenberg also invested additional equity in SIXNET to
support the acquisition. "We are pleased to support SIXNET's growth
through additional debt and equity financing in support of this
complementary add-on acquisition," said Darin Winn, American
Capital Regional Managing Director. "With strong growth trends in
both the industrial wireless data and machine to machine markets,
this is an excellent opportunity to help our portfolio company
expand. BlueTree Wireless' evolutionary 3G broadband cellular
technology, with much quicker data transmission rates than prior
technology, should further drive growth." American Capital has
invested directly and through its funds under management
approximately $11 billion in the last twelve months, approximately
$9.9 billion year to date and approximately $1.5 billion quarter to
date. Not including funds under management, American Capital has
invested approximately $8.1 billion in the last twelve months,
approximately $7.3 billion year to date and approximately $1.3
billion quarter to date. For more information about American
Capital's portfolio, go to
http://www.acas.com/our_portfolio/our_portfolio.html. "There is a
strong strategic rationale for combining BlueTree Wireless with
SIXNET," said Frank Do, American Capital Managing Director.
"Merging these two businesses creates a high growth company because
of synergies in end markets, technology, manufacturing, geography,
marketing and distribution. BlueTree Wireless brings strong
customer relationships, having been approved by and partnered with
all the major North American carriers in the U.S." American Capital
first invested in SIXNET in 2005, supporting SIXNET's
recapitalization. Established in 1976, Clifton Park, NY-based
SIXNET is a manufacturer of industrial automation,
data-acquisition, control and connectivity products designed for
the harsh conditions found on plant floors and other extreme
environments. SIXNET has remained continuously profitable for three
decades. Founded in 2002, BlueTree Wireless is a leading developer
and manufacturer of wireless modems and software solutions for
commercial and industrial applications. BlueTree Wireless's modems
are designed to operate on cellular networks worldwide enabling M2M
applications in the public safety, fleet management, field service,
supervisory control and data acquisition (SCADA) and telemetry
markets. Its main offices are located in Montreal, Quebec and
Chapel Hill, North Carolina. "We are excited to have American
Capital support our acquisition of BlueTree Wireless," said Steve
Schoenberg, CEO, SIXNET. "American Capital has always valued our
history of innovation. We know we can rely on the team at American
Capital for their experience, knowledge and financial resources."
ABOUT AMERICAN CAPITAL American Capital is the only alternative
asset management company in the S&P 500. With $19 billion in
capital resources under management, 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. As of October 31, 2007, American
Capital shareholders have enjoyed a total return of 607% since the
Company's IPO, an annualized return of 21%, assuming reinvestment
of dividends. American Capital has paid a total of $1.9 billion in
dividends and paid or declared $26.16 dividends per share since
going public in August 1997 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/ or
http://www.europeancapital.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 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: Frank Do,
Principal and Managing Director, +1-310-806-6280, or Brian Maney,
Director, Corporate Communications, +1-301-951-6122, both of
American Capital Strategies Ltd. Web site:
http://www.americancapital.com/
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