American Capital Commits $60 Million to US Express Leasing
11 12월 2007 - 5:06AM
PR Newswire (US)
BETHESDA, Md., Dec. 10 /PRNewswire-FirstCall/ -- American Capital
Strategies Ltd. (NASDAQ:ACAS) announced today that in the third
quarter it committed $60 million in senior subordinated debt to US
Express Leasing, Inc. (USXL), an independent equipment leasing
company that provides financing to the healthcare, technology,
office products, graphic arts and commercial and industrial
equipment markets. American Capital's investment will be used to
support USXL's continued growth. "With its strong management team
and information systems, USXL is a welcome addition to the American
Capital Financial Services portfolio," said Bob Grunewald, American
Capital Managing Director, Financial Services Group. "USXL's
established reputation for service has enabled it to become the
preferred financing partner of many small to mid-sized equipment
dealers and manufacturers. This high level of service is one of the
Company's key competitive advantages." Since inception in May 2006,
the American Capital Financial Services Group, led by Mr.
Grunewald, has invested in six portfolio companies, including:
First Capital, a leading provider of secured working capital
financing for middle market companies; Velocity Financial Group
Inc., a specialty finance company that provides equipment financing
and working capital to middle market and venture-backed companies;
and Oceana Media Finance LLC, a specialty finance company that
provides asset-backed secured financing for the production and
marketing of independently produced feature films. American Capital
has invested directly and through its funds under management
approximately $11 billion in the last twelve months, approximately
$10 billion year to date and approximately $1.6 billion quarter to
date. Not including funds under management, American Capital has
invested approximately $8 billion in the last twelve months,
approximately $7.3 billion year to date and approximately $1.3
billion quarter to date. American Capital has assisted in the
refinance or syndication of approximately $1.5 billion of senior
debt for its portfolio companies in the last twelve months and
approximately $850 million from July 2007 to date. For more
information about American Capital's portfolio, go to
http://www.americancapital.com/our_portfolio/our_portfolio.html.
USXL originated its first lease in May 2004 and has since grown its
portfolio to include more than 25,000 end users originated through
relationships with over 400 equipment vendors. The Parsippany,
NJ-based equipment leasing company originates transactions through
dealers, distributors and manufacturers. "We are pleased that
American Capital is supporting USXL with its $60 million
investment, which will allow us to continue to expand our
business," said Jim McGrane, USXL CEO. "We look forward to working
with the American Capital Financial Services Group to take
advantage of their experience and knowledge as we continue to
grow." ABOUT AMERICAN CAPITAL FINANCIAL SERVICES GROUP The
Financial Services Group offers capital solutions for consumer and
commercial finance, insurance and asset management companies. The
Group invests throughout the capital structure, including senior
debt, subordinated debt and equity, and investments up to $800
million in each transaction. Companies interested in learning more
about American Capital's Financial Services Group should contact
Bob Grunewald, Managing Director, at (301) 951- 6122. 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 November 30, 2007, American Capital
shareholders have enjoyed a total return of 511% since the
Company's IPO, an annualized return of 19%, 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: Bob
Grunewald, Managing Director, Financial Services Group, or Brian
Maney, Director, Corporate Communications, +1-301-951-6122, both of
American Capital Strategies Ltd. Web site:
http://www.americancapital.com/ http://www.europeancapital.com/
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