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, Ltd. (Nasdaq: ACAS) (“American Capital”) announced today that in the first quarter of 2013, its Sponsor Finance Group invested over $59 million, in support of leading private equity firms.
“During the first quarter of 2013, we invested in three global middle market companies. Our transaction execution was efficient and we were able to provide competitive pricing and terms, working both directly with sponsors and participating in syndicated second lien term loans with leading investment banks,” said Adam Spence , Managing Director, American Capital. “The American Capital Sponsor Finance Group, with 29 investment professionals in the United States and Europe, is able to provide one stop financing solutions and subordinated debt capital and participate in syndicated second lien term loans.”
“Our flexible capital and our wide-ranging financing capabilities position us to move quickly and finance new attractive acquisitions, capital structure refinancings and corporate growth initiatives,” said Bowen Diehl , Managing Director, American Capital. “We look forward to an active year of supporting our sponsor partners in new buyouts and in growing their portfolio companies, while forging and enhancing new relationships in the sponsor community.”
A summary of transactions is outlined below.
Total Safety, Inc.
In March 2013, American Capital invested in a second lien facility to support a leading private equity firm in the refinancing of Total Safety, Inc., the premier global outsourced provider of integrated safety and compliance solutions for clients operating in highly-regulated, hazardous environments. Headquartered in Houston, TX, the company’s solutions include the rental, inspection, service and repair of respiratory protection equipment, gas detection and monitoring equipment and portable instrumentation, as well as the installation and service of complex breathing air systems, technical private facility communication networks and gas monitoring, fire detection and suppression systems.
In March 2013, American Capital invested in a second lien facility to support a leading private equity firm’s purchase of Datapipe, Inc., a leading global provider of outsourced IT solutions to medium and large size enterprise customers. Headquartered in Jersey City, NJ, with data center facilities in New York, Virginia, San Jose, London, Iceland, Hong Kong and Shanghai, Datapipe offers a range of managed services, including Infrastructure-as-a-Service (IaaS), Platform-as-a-Service (PaaS) and cloud computing solutions.
In February 2013, American Capital invested in a new first lien facility as part of the refinancing of its existing portfolio company, Neways, Inc., a multi-level marketing firm. American Capital acted as lead syndication and administrative agent on the deal. Headquartered in Springville, UT, Neways sells personal care and nutritional health products, including liquid vitamins, dietary supplements, and beauty care products through a global network of independent distributors.
American Capital and its affiliated funds have invested approximately $31 billion in over 550 portfolio companies both directly and in support of leading financial partners in change of control transactions. For more information about American Capital’s portfolio, go to http://www.americancapital.com/Pages/our_portfolio/our_portfolio.aspx.
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 and structured products. American Capital manages $18.6 billion of assets, including assets on its balance sheet and fee earning assets under management by affiliated managers, with $117 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 a $13 billion market capitalization and American Capital Mortgage Investment Corp. (Nasdaq: MTGE) with approximately a $1.5 billion market capitalization. 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