American Capital Ltd. said Monday it invested $21.5 million in Electronic Warfare Associates Inc. The investment was led by American Capital Special Situations and takes the form of senior secured term loans. Herndon, Virginia-based Electronic Warfare provides electronic warfare, cyber security and advanced commercial test tool systems and solutions to the United States and allied-nation government agencies and commercial customers.
BETHESDA, Md., May 11, 2015 /PRNewswire/ — American Capital, Ltd. (Nasdaq: ACAS) (“American Capital” or the “Company”) announced today it has invested $21.5 million in Electronic Warfare Associates, Inc. (“EWA”), a leading provider of electronic warfare, cyber security and advanced commercial test tool systems and solutions to the United States and allied-nation government agencies and commercial customers. The investment was led by American Capital Special Situations and takes the form of senior secured term loans. The investment will be used to refinance EWA’s existing indebtedness and provide capital for general corporate purposes.
“We are pleased to have this opportunity to support a leader in electronic warfare and cybersecurity and look forward to EWA’scontinued success,” said Myung Yi, Managing Director, American Capital Special Situations. “This transaction demonstrates American Capital Special Situations’ ability to provide flexible capital solutions to middle market companies with strong franchise value.”
“For over 38 years, EWA has continued to be on the forefront of developing premier, innovative, patented and proprietary products and technologies for US government and commercial customers for top-priority, highly-sophisticated defense and commercial programs,” said Yaniv Zief, Vice President, American Capital Special Situations. “We are excited about partnering with an industry leader that has unique capabilities in several niche markets.”
Founded in 1977, EWA is a leader in electronic warfare, cyber security and commercial test tools systems and solutions to the United States and allied-nation government agencies and commercial customers. EWA delivers a comprehensive range of highly-technical services, solutions and products across a broad range of technology and engineering specialties, including systems engineering, program management, and computer software design. EWA is headquartered in Herndon, VA and has 13 facilities throughout the United States and Canada.
American Capital and its affiliated funds have invested approximately $40 billion in over 900 portfolio companies. For more information about American Capital’s portfolio, go to www.americancapital.com/our-portfolio.
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 $23 billion of assets, including assets on its balance sheet and fee earning assets under management by affiliated managers, with $92 billion of total assets under management (including levered assets). Through a wholly owned 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 $11 billion of total net book value. From its eight offices in the U.S., Europe andAsia, American Capital and its wholly owned affiliate, European Capital, will consider investment opportunities from $10 million to $600 million. For further information, please refer to www.AmericanCapital.com.
ABOUT AMERICAN CAPITAL SPECIAL SITUATIONS
American Capital Special Situations is an experienced team of professionals exclusively focused on providing capital to complex or unique situations. American Capital Special Situations’ flexible capital mandate provides it the ability to invest throughout the capital structure in both debt financings and equity buyouts. American Capital Special Situations has been a partner to middle market companies with attractive franchise values that experienced periods of excess leverage, operational and/or financial underperformance, or other special circumstances that necessitated a flexible capital solution to reposition the business for growth. Since its inception in 2005, American Capital Special Situations has invested approximately $1 billion in 14 companies.
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.