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
, 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
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
, 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
. The Company is headquartered in
and operates manufacturing, mixing, storage and distribution facilities in
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
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
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
of assets, including assets on its balance sheet and fee earning assets under management by affiliated managers, with
of total assets under management (including levered assets). Through an affiliate, American Capital manages publicly traded American Capital Agency Corp. (Nasdaq: AGNC) with approximately
of net book value, American Capital Mortgage Investment Corp. (Nasdaq: MTGE) with approximately
of net book value and American Capital Senior Floating, Ltd. (Nasdaq: ACSF). From its eight offices in the U.S. and
, American Capital and its affiliate, European Capital, will consider investment opportunities from
$10 million to $750 million
. For further information, please refer to
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
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.
, Chief Executive Officer, American Capital Energy & Infrastructure
, Vice President, American Capital Energy & Infrastructure
SOURCE American Capital, Ltd.