BETHESDA, Md., Oct. 5 /PRNewswire-FirstCall/ -- American Capital
Ltd. (Nasdaq: ACAS) announced today that in September 2010 it invested in its portfolio
company CIBT Holdings, Inc. to support the acquisition of Travel
Logistics Limited (TLL), a London-based expeditor of travel documents.
TLL was acquired from a subsidiary of G4S plc (LSE: GFS), an
international security solutions group.
Established in 1997, TLL is a passport and visa agency that
provides courier, logistics and consular services to individuals
and businesses in the United
Kingdom. TLL provides services to many of the leading U.K.
travel management companies and tour operators.
"CIBT's acquisition of TLL will significantly expand its
presence and leadership position in the U.K., a key global travel
market," said Sean Eagle, Principal,
Buyouts. "CIBT has a proven track record of growth through organic
initiatives and acquisitions. TLL represents CIBT's fifteenth
acquisition since 2004."
Headquartered in McLean,
Virginia, CIBT is the largest global provider of visa and
passport services. CIBT provides travel-related services to
75% of the Fortune 500 companies as well as the leading travel
management companies, tour operators, humanitarian organizations,
and cruise line clients operating in more than 30 locations
globally. CIBT processed nearly 700 thousand visa and passport
requests in the last year. CIBT operates in the United States, United Kingdom, Germany, the
Netherlands, Canada and
Switzerland. For more
information about CIBT, please go to http://www.us.cibt.com.
"We are appreciative of American Capital's continued support and
are excited about the combination of CIBT and TLL," said
John Donoghue, President and CEO of
CIBT. "Increasing our presence in the U.K. will allow us to make
larger investments and further enhance the quality service we
provide to our U.K. customers."
American Capital first invested in CIBT in May 2006 to support Audax Group's acquisition of
CIBT. In January 2008, American
Capital announced that it had sponsored and invested in the One
Stop Buyout of CIBT. For more information about American
Capital's investment in CIBT, please go to
http://www.americancapital.com/our_portfolio/companies/cibt_holdings.html.
American Capital currently has $15
billion in capital resources under management and over 170
portfolio companies and has invested $24
billion since its 1997 IPO. For more information about
American Capital's portfolio, please go to
www.americancapital.com/our_portfolio/our_portfolio.html.
ABOUT AMERICAN CAPITAL
American Capital is a publicly traded private equity firm and
global asset manager. American Capital, both directly and through
its asset management business, originates, underwrites and manages
investments in middle market private equity, leveraged finance,
real estate and structured products. Founded in 1986,
American Capital has $15 billion in
capital resources under management and eight offices in the U.S.,
Europe and Asia. American Capital and its
affiliates will consider investment opportunities from $5 million to $100 million. For further
information, please refer to 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 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.
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Contact:
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Sean Eagle, Principal, Buyouts,
(301) 951-6122
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Justin DuFour, Vice President,
Buyouts, (301) 951-6122
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SOURCE American Capital Ltd.
Copyright t. 5 PR Newswire