BETHESDA, Md., April 2, 2014 /PRNewswire/ -- American Capital,
Ltd. (Nasdaq: ACAS) ("American Capital") announced today that it
has sold its interest in ADF Holdings, Inc., the parent company of
Anchor Drilling Fluids USA, Inc.
(collectively, "Anchor" or the "Company"), to Calumet Specialty
Products Partners, L.P. (Nasdaq: CLMT), a leading independent
producer of specialty hydrocarbon and fuel products. American
Capital received $33 million in debt
and equity proceeds from the transaction, subject to post-closing
adjustments.
"Anchor has seen significant growth in the past several years as
an independent company; however, the combination with Calumet will
only enhance its position as one of the country's
leading providers of drilling fluids solutions, completion
fluids and production chemicals to the oil and gas industry," said
Paul Hanrahan, CEO and co-founder of
American Capital Energy & Infrastructure.
American Capital first invested in Anchor in July 2005. As
one of the largest independent drilling fluid providers in
the United States, Anchor designs,
manufactures and sells its products to approximately 250
exploration and production companies operating in North America. The Company is
headquartered in Tulsa, OK and
operates manufacturing, mixing, storage and distribution facilities
in Oklahoma, Arkansas, Colorado, Louisiana, New
Mexico, Montana,
New York, North Dakota, Ohio, Pennsylvania, Texas, Utah
and Wyoming.
Since American Capital's 1997 IPO through the fourth quarter of
2013, the Company has earned a 10% compounded annual return,
including interest, dividends, fees and net gains, on over 370
realizations of senior debt, subordinated debt, equity and
structured products investments, totaling $20 billion of committed capital. American
Capital earned a 24% compounded annual return on the exit of its
equity investments, including dividends, fees and net gains.
For a chart showing a partial listing of American Capital's
exited portfolio companies, please go to
http://www.americancapital.com/our-portfolio/exited-companies.
ABOUT AMERICAN CAPITAL
American Capital, Ltd. (Nasdaq:
ACAS) 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, energy & infrastructure and structured
products. American Capital manages $19
billion of assets, including assets on its balance sheet and
fee earning assets under management by affiliated managers, with
$93 billion of total assets under
management (including levered assets). Through an affiliate,
American Capital manages publicly traded American Capital Agency
Corp. (Nasdaq: AGNC) with approximately $9
billion of net book value, American Capital Mortgage
Investment Corp. (Nasdaq: MTGE) with approximately $1 billion of net book value and American Capital
Senior Floating, Ltd. (Nasdaq: ACSF). From its eight offices
in the U.S. and Europe, American
Capital and its affiliate, European Capital, will consider
investment opportunities from $10 million to
$750 million. For further information, please refer to
www.AmericanCapital.com.
ABOUT AMERICAN CAPITAL ENERGY & INFRASTRUCTURE
American Capital Energy & Infrastructure invests in global
energy infrastructure assets, including power generation
facilities, power distribution and transmission networks, energy
transportation assets, fuel production opportunities and product
and service companies focused on the power and energy
sectors. ACEI is an affiliate of American Capital. For
further information, please refer to www.ACEI.com.
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.
Contact: (443) 214-7070
Paul Hanrahan, Chief Executive
Officer, American Capital Energy & Infrastructure
Rajeev Garside, Vice President,
American Capital Energy & Infrastructure
SOURCE American Capital, Ltd.