American Capital Invests in Formation of SunFuel Midstream
19 12월 2007 - 12:32AM
PR Newswire (US)
BETHESDA, Md., Dec. 18 /PRNewswire-FirstCall/ -- American Capital
Strategies Ltd. (NASDAQ:ACAS) announced today that it has invested
in the formation of SunFuel Midstream, which will acquire, build,
finance and operate midstream biofuel infrastructure assets. "We
are investing in a new company, which will develop critically
needed midstream infrastructure for the rapidly growing biofuel
industry and will be led by a proven executive with extensive
industry experience," said Darin Winn, American Capital Regional
Managing Director. "In addition to providing one stop financing,
American Capital's Energy Group brings expertise in all facets of
the energy industry from production and transmission to
distribution and services. With a portfolio that includes
investments in ethanol production as well as in oil production, gas
production, pipeline services, refined products transportation,
oilfield services and equipment manufacturing, the Energy Group
possesses invaluable knowledge of the entire sector and its
dynamics." American Capital has invested directly and through its
funds under management approximately $10.5 billion in the last
twelve months, approximately $10 billion year to date and over $1.6
billion quarter to date. Not including funds under management,
American Capital has invested approximately $7.9 billion in the
last twelve months, approximately $7.3 billion year to date and
over $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 $860 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.
"SunFuel Midstream will address the infrastructure bottlenecks in
the biofuel industry, which have developed as production has
skyrocketed and were driven by regulatory efforts to reduce carbon
emissions and decrease dependence on imported oil," said Kevin
Kuykendall, American Capital Managing Director, Energy Group.
"Chief Executive Chris Muehling, as a senior executive in our
former portfolio company ASAlliances Biofuels, has successfully
overseen virtually all aspects of the biofuel business and
established marketing alliances with major petroleum companies and
ethanol and biodiesel producers. With his impressive track record,
he is ideally suited to build the new company into a significant
participant in the development of biofuel infrastructure." "SunFuel
Midstream will be positioned to fill a variety of critical gaps in
the biofuel blending, storage and transportation infrastructure.
Its scope of anticipated projects include retrofitting or building
terminals with biofuel blending and storage capabilities,
constructing unit train receiving terminals and developing
gathering terminals near multiple small biofuel producers," said
Kacy Ellis, American Capital Vice President, Energy Group. "While
premised on continued strong growth in the biofuel industry, the
new company's business model is protected from substantial existing
volatility in biofuel, corn and natural gas prices." SunFuel
Midstream, to be based in Dallas, TX, will acquire, build, finance
and operate biofuel infrastructure assets such as biofuel storage
and blending terminals, rail, barge and truck receiving logistics
terminals and rail and truck gathering logistics terminals. The
company will derive its revenues by charging throughput and storage
fees for use of its infrastructure and by blending biofuel for its
own account. "I am delighted to be working with American Capital in
launching this important new entrant in the biofuel industry," said
Chris Muehling, SunFuel Midstream Chief Executive Officer. "As a
member of the executive team at ASAlliances Biofuels, I have seen
firsthand the extraordinary value that American Capital brings to
its investment partnerships and I look forward to an equally
rewarding relationship in our new venture." ABOUT AMERICAN CAPITAL
ENERGY GROUP The American Capital Energy Group invests senior debt,
subordinated debt and equity across all segments of the energy
industry, including production, transportation, processing,
distribution, services and equipment manufacturing in oil and gas,
power and alternatives, including biofuels, wind, and solar.
Companies interested in learning more about American Capital's
energy initiative should contact Kevin Kuykendall at (214)
273-6634, or visit the website at http://www.acas.com/energy. 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 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: Kevin
Kuykendall, Managing Director, Energy Group, +1-214-273-6634; Kacy
Ellis, Vice President, Energy Group, +1-214-273-6639; or Brian
Maney, Director, Corporate Communications, +1-301-951-6122, all of
American Capital Strategies Ltd. Web site:
http://www.americancapital.com/ http://www.acas.com/energy
http://www.europeancapital.com/
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