American Capital’s ACEI expands team with two hires

American Capital‘s ACEI has added Ben Bonnet and David Elizondo to its team. Both will be serving as vice president. Previously, Bonnet worked at Alinda Capital Partners where he was a vice president while Elizondo is a former vice president at Access Capital Advisers.

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American Capital’s SMG buys Premier

SMG, a portfolio company of American Capital, has acquired Premier Food Services. No financial terms were disclosed. Headquartered in San Diego, Premier is a provider of outsourced food and beverage services in Southern California.

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American Capital unveils $1.1bn lower mid-market vehicle

American Capital has launched American Capital Equity III. The private equity fund will invest in companies in the lower middle market. The Private Fund Group of Credit Suisse is serving as the exclusive placement agent. Kirkland & Ellis is serving as lead counsel to American Capital on the transaction.

VC-backed Contour Semiconductor hires new CEO

Massachusetts-based memory chips provider Contour Semiconductor has named Saul Zales as CEO. Zales is the former executive vice president of corporate development at Fusion-io. Contour Semiconductor’s backers include American Capital, Fairhaven Capital Partners, Still River Funds and Eastward Capital Partners.

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American Capital sells SPL to Hepalink

American Capital said Thursday that it has received $210 million from the sale of SPL Acquisition Corp to Shenzhen Hepalink Pharmaceutical Co. Ltd. Headquartered in Waunakee, Wisconsin, SPL Acquisition Corp is the parent company of Scientific Protein Labs, which specializes in cGMP biopharmaceutical manufacturing.

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American Capital exits Specialty Brands

B&G Foods has agreed to acquire Specialty Brands of America from American Capital for $155 million in cash. Evercore Group advised American Capital on the deal. Based in Parsippany, NJ, B&G Foods is a seller and distributor of food and household products.

American Capital exits ADF Holdings

American Capital said Wednesday that it has sold its stake in ADF Holdings to Calumet Specialty Products Partners for $33 million. ADF is the parent company of Anchor Drilling Fluids USA. Based in Tulsa, Anchor is a drilling fluid provider that produces and sells its products to approximately 250 exploration and production companies in North America.

American Capital Invests $59 Mln in Three Companies in Q1

American Capital said Friday that its sponsor finance group invested over $59 million in three companies during first quarter. In March, American Capital invested in a second lien facility to support the refinancing of Total Safety, which is owned by another PE firm. Also that month, American Capital invested in a second lien facility to support the buy of Datapipe by another PE firm. In February, American Capital invested in a new first lien facility as part of the refinancing of its portfolio company, Neways.

American Capital Closes $414 Mln Managed CLO

American Capital said Monday that it closed on the sale of a $414 million of collateralized loan obligation bonds. Deutsche Bank arranged the transaction. American Capital Leveraged Finance Management, a subsidiary of American Capital Asset Management, is externally managing the CLO.

American Capital Gets $127 Mln from Paradigm Precision Sale

American Capital, and its affiliated funds, have received $129 million in debt and equity proceeds, subject to post-closing adjustments, from the sale of portfolio company Paradigm Precision Holdings. Dynamic Precision Group, which is backed by the Carlyle Group, acquired Paradigm Precision on Jan. 31. American Capital said it received $127 million. American Capital invested in Paradigm Precision in 2007.

Pan Am Acquires Airline Career Academy

American Capital‘s portfolio company Pan Am International Flight Academy has acquired Airline Career Academy. Airline Career Academy is a pilot training academy specializing in JAA/EASA and FAA ab initio training.

American Capital to Expand into Energy Infrastructure Sector

American Capital said Wednesday that it is expanding its investment activities into the energy infrastructure sector. The firm has formed American Capital Infrastructure which will be led by Paul Hanrahan. Hanrahan, who will be CEO of American Capital Infrastructure, is the prior President and CEO of The AES Corp. Rich Santoroski, also of AES, joins American Capital Infrastructure as an MD, while Rajeev Garside be a VP.

American Capital Refinances Secured Debt with $600 Mln Loan

American Capital said Wednesday that it completed the refinancing of all its recourse debt with a new four-year $600 million institutional term loan. In addition to repaying the recourse debt, proceeds will be used for working capital and general corporate. Also, American Capital said it has obtained a new four-year $250 milion senior secured revolving […]

Michienzi Joins Riverside Company

Michael Michienzi has joined the Riverside Company as a senior operating partner. He will be part of the Dallas office. Michienzi was most recently an American Capital senior principal.

SBA Backing up the Little Guys–CORRECTED

During President Obama’s first term, the U.S. Small Business Administration’s Small Business Investment Company program has committed more capital to investors backing growth plays at the current—and dirt cheap—interest rate of about three percent.

It’s because investors are increasingly seeking out SBIC funding to support mezzanine deals, growth plays and smaller buyouts. The SBIC program lent $1.2 billion last fiscal year (each ends Sept. 30) and will surely approve funds exceeding that amount this year, but it still has hundreds of millions of dollars that go unused thanks to too few applicants and too few approvals. Yet, the capital committed by the program over the past full fiscal year represents an increase over the four prior years’ commitment levels by a whopping 55 percent. Experts believe the gap in capital allotted to the program and the amount it actually deploys will continue to shrink; difficulty raising debt has turned more investment firms that would usually sneer at the prospect of partnering with the government instead into eager recipients of discount debt.

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