BETHESDA, Md., June 3, 2014 /PRNewswire/ -- American Capital,
Ltd. (Nasdaq: ACAS) ("American Capital" or "the Company") announced
today that its portfolio company SMG Holdings, Inc. ("SMG") has
acquired Premier Food Services ("Premier"), a provider of
outsourced food and beverage services in southern California.
SMG is a leading provider of entertainment and conference venue
management services worldwide.
"As a global venue management company, SMG manages a large and
broad portfolio of venues with exceptional diversity across event
type, end market, attendee population demographic and geography,"
said Brian Graff, Senior Managing
Director. "Its acquisition of Premier provides SMG with an
attractive opportunity to expand its food service offering outside
of its core portfolio of arenas, stadiums and convention centers
into business dining, schools and colleges, fairgrounds and
off-premise catering."
Founded in 1985, San Diego, CA
based Premier is a provider of outsourced food and beverage
services at entertainment venues, dining clubs, universities and
businesses. Its customers range from the State of California to higher education
clients and blue chip aerospace and technology firms and include
Del Mar Fairgrounds and Race Track, one of the most attended
thoroughbred racing venues in the U.S., and the University of California, San Diego Faculty
Club. Premier's services include dining center and restaurant
management, alcoholic beverage and food concessions, meeting
facility management and special events management.
"By combining Premier's solid presence in the San Diego market, business dining credentials
and experience with SMG's national reach and extensive resources,
SMG will be in a significantly stronger position to attract niche
business dining foodservice contracts in southern California as well as across the country,"
said Helen Yang, Managing
Director.
"Premier is a perfect fit for our California SAVOR food business
which includes the Long Beach
Convention Center, The Aquarium of the Pacific, the Long Beach
Grand Prix, the Moscone Center, the Ontario Convention Center and Fresno State
University. This acquisition will also provide a base of
business to further expand SMG's SAVOR brand nationally," stated
Wes Westley, SMG President and
CEO.
Founded in 1977, Philadelphia,
PA based SMG is the world's largest venue management company
providing private management services to owners of public assembly
facilities. SMG provides construction and design consulting,
pre-opening services, venue management, sales, marketing, event
booking and programming. SMG currently manages over 230
venues, including arenas, stadiums, convention centers, exhibition
halls, science centers, trade centers, theaters and performing arts
centers. SMG's facilities include stadiums such as the
Mercedes-Benz Superdome, home of the New Orleans Saints, and
Soldier Field, home of the Chicago Bears; convention centers
McCormick Place in Chicago and
Moscone Center in San Francisco;
and the U.K. based Manchester Arena, the world's third largest
arena. SMG also offers food and beverage operations through
its concessions, catering and special events division,
SAVOR.
American Capital invested in the One Stop Buyout® of SMG in June
2007. For more information, please visit
www.americancapital.com/our-portfolio/smg.
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 $84
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) with approximately $151 million
in net book value. 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.
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: (212) 213-2009
Brian
Graff, Senior Managing Director
Helen Yang, Managing Director,
Buyouts Group
Jimmy Byun, Principal, Buyouts
Group
SOURCE American Capital, Ltd.