BETHESDA, Md., July 28, 2014 /PRNewswire/ -- American Capital, Ltd. (Nasdaq: ACAS) ("American Capital") announced today that it, along with its affiliate European Capital Limited ("European Capital"), invested approximately $225 million in seven new portfolio companies in the first half of 2014. These investments were led by American Capital and European Capital offices in the United States and Europe and were made in support of leading private equity firms' company buyouts, add-on acquisitions and dividend recapitalizations.
"During the first half of 2014, we partnered with top private equity firms to invest in leading middle market companies with dynamic growth opportunities," said Ryan Brauns, American Capital Managing Director and Head of Sponsor Finance. "With our seasoned investment professionals in the United States and Europe, flexible capital, wide-ranging financing capabilities and streamlined underwriting process, we are able to move quickly and execute on commitments. We are looking forward to an active remainder of the year investing in attractive acquisitions, capital structure refinancings and corporate growth initiatives with our partners as well as building new relationships within the sponsor community."
A summary of the transactions is outlined below.
Wencor, Inc. In June, American Capital invested $25 million in a second lien facility to support the acquisition of Wencor, Inc. by Warburg Pincus LLC. Headquartered in Springville, Utah, Wencor is a manufacturer and distributor of aftermarket aerospace components for the commercial aerospace, business, military and general aviation markets.Groupe PoultIn June, European Capital invested €13 million in mezzanine bonds to support the acquisition of Groupe Poult ("Poult") by Qualium Investissement. Headquartered in Toulouse, France, Poult is the leading French private label manufacturer of sweet biscuits and the second overall French biscuit manufacturer. Poult customers include all of the large mass retail and hard discount chains in France. Luminator Technology GroupIn April, American Capital committed $71 million in a second lien term loan, committed delayed draw facility and common equity to support the acquisition of Luminator Technology Group ("Luminator") by Audax Group. Luminator is a designer and manufacturer of highly-engineered display, lighting and passenger communication systems for the global mass transportation market. Headquartered in Plano, Texas, with additional operations in Denmark, Germany, Sweden, Brazil and Australia, Luminator serves OEMs and operators in the city bus, rail and aerospace markets worldwide. Tectum Holdings, Inc. In March, American Capital invested $25 million in a second lien facility to support an add-on acquisition and dividend recapitalization of Tectum Holdings, Inc. ("THI") by Kinderhook Industries LLC. Headquartered in Ann Arbor, Michigan, THI is a manufacturer of branded light duty truck tonneau covers, bedliners and accessories. THI's brands include Extang, Truxedo, Undercover Advantage, Retrax, BedRug and BAK Industries. LANDesk SoftwareIn February, American Capital invested $9 million in a second lien facility to support the dividend recapitalization of LANDesk Software ("LANDesk) by Thoma Bravo, LLC. LANDesk is a provider of software for IT departments and systems management and serves a base of over 12,000 customers, including Fortune 500 and small and medium businesses. LANDesk is headquartered in South Jordan, Utah with additional offices in Europe, Latin America, Asia and the Middle East. Inmar, Inc. In January, American Capital invested $20 million in a second lien facility to support the acquisition of Inmar, Inc. by ABRY Partners, LLC. Headquartered in Winston-Salem, North Carolina, Inmar is a provider of technology-driven logistics management solutions to companies in the consumer goods and healthcare markets. Inmar serves approximately 1,600 of the largest retailers, grocers, consumer packaged goods companies and manufacturers in the U.S. AsmodeeIn January, European Capital invested €42.5 million in unitranche bonds and an equity co-investment to support the acquisition of Asmodee by Eurazeo Capital. Asmodee is a leading independent publisher and distributor of games and trading cards in Europe with its main operations in France, the UK, Belgium, the USA, Germany and Spain. Asmodee pioneered the development of modern social games and captured most of the bestselling board and card games in France over the last 15 years, including Dobble, Jungle Speed and Time's Up. American Capital and its affiliated funds have invested approximately $11 billion in over 250 portfolio companies in support of leading private equity firms' company buyouts, refinancings, add-on acquisitions, dividend recapitalizations and growth opportunities. For more information about American Capital's portfolio, go to www.americancapital.com/our-portfolio. ABOUT AMERICAN CAPITALAmerican 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), American Capital Mortgage Investment Corp. (Nasdaq: MTGE) and American Capital Senior Floating, Ltd. (Nasdaq: ACSF) with approximately $10 billion of aggregate 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. ABOUT EUROPEAN CAPITALEuropean Capital is an investment company for pan-European equity, mezzanine and senior debt investments with €0.8 billion in assets under management. European Capital is a wholly-owned affiliate of American Capital. It is managed by European Capital Asset Management Limited (the "Investment Manager"), a wholly-owned affiliate of American Capital. The Investment Manager has offices in London and Paris with 55 employees. Since its inception, European Capital Limited has invested €3.6 billion in over 100 companies in Europe. European Capital and its affiliates will consider senior, mezzanine and unitranche debt investment opportunities from 10 million to 100 million in either euros or sterling and up to 400 million for One Stop Buyouts®. For further information, please refer to www.europeancapital.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: Ryan Brauns, Managing Director and Head of Sponsor Finance, American Capital (212) 213-2009 Tristan Parisot, Managing Director, European Capital Financial Services Limited+33 (0) 1 40 68 06 66 SOURCE American Capital, Ltd.