American Capital Books $300 Million in Sponsor Deals in 2012
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American Capital Books $300 Million in Sponsor Deals in 2012

In 2012 American Capital invested over $300 million in 28 private equity sponsored transactions. These investments were led by American Capital’s offices in the United States and Europe and were made in support of buyouts, refinancings, add-on acquisitions, dividend recapitalizations and growth opportunities.

“In 2012, our Sponsor Finance Group was successful in sourcing and closing attractive new investment opportunities by working closely with some of the best private equity firms in the United States and Europe,” said Adam Spence, Managing Director, American Capital.  “We very much look forward to continuing to deepen and expand our sponsor relationships as we seek to aggressively put capital to work in 2013 and beyond.”

American Capital is a publicly traded private equity firm and global asset manager that originates, underwrites and manages investments of $10 million to $750 million in middle market private equity, leveraged finance, real estate and structured products. Founded in 1986, American Capital has $118 billion in total assets under management and has eight offices in the US, Europe and Asia. The firm is headquartered in Bethesda, MD (www.AmericanCapital.com).

“Our ability to provide flexible financing solutions of up to $150 million in senior, mezzanine, second lien, unitranche and equity co-investment, as well as our responsive execution with a global underwriting platform and commitment to growing portfolio companies make American Capital an ideal investment partner for sponsors, lenders and management teams,” said Bowen Diehl, Managing Director, American Capital.

A summary of selected 2012 transactions is outlined below:

Aderant Holdings: In December 2012, American Capital invested in first and second lien facilities to support a private equity firm in its purchase of Aderant Holdings, a global provider of comprehensive business management software for law and professional services firms.

AmWINs Group: In June 2012, American Capital invested in a second lien facility to support a private equity firm in its purchase of AmWINs Group, a wholesale insurance broker.

CAMP Systems International: In May 2012, American Capital invested in a second lien facility to support a private equity firm in its purchase of CAMP Systems International, a provider of subscription-based maintenance tracking information services to the corporate aviation market.  CAMP Systems International has been a portfolio company of American Capital since 2007 when American Capital invested in a second lien facility to support its recapitalization led by a private equity firm.

Consolidated Precision Products:  In December 2012, American Capital invested in a second lien facility to support a private equity firm in its purchase of Consolidated Precision Products, a global aerospace castings manufacturer for the commercial aerospace, military and industrial markets.

The Flexitallic Group: In July 2012, European Capital invested in unitranche bonds to support a private equity firm in the refinancing of The Flexitallic Group, formerly the FDS Group. In December 2012, European Capital invested in unitranche bonds to support The Flexitallic Group’s add-on acquisition of Custom Rubber Products, a manufacturer of elastomer, phenolics, and thermoset plastic products for upstream and midstream oilfield and industrial markets.  The Flexitallic Group is an international market leader in the manufacturing and distribution of high-end sealing solutions.

Sage Products: In December 2012, American Capital invested in a second lien facility to support a private equity firm in its purchase of Sage Products, a healthcare products manufacturer focused on infection prevention and patient safety products.

Tomkins Air Distribution:  In November 2012, American Capital invested in a second lien facility to support a private equity firm in its purchase of Tomkins Air Distribution, a provider of ventilation solutions to non-residential and residential buildings.

Transtar Holding Company:  In October 2012, American Capital invested in a second lien facility to support a private equity firm in the dividend recapitalization of Transtar Holding Company, a distributor of automotive aftermarket parts.

Unipex Group:  In September 2012, European Capital invested in unitranche bonds to support a private equity firm in its purchase of Unipex Group, a global distributor of natural active ingredients and specialty chemicals for the cosmetic, pharmaceutical, nutrition and industrial sectors.  Unipex Group has been a portfolio company of European Capital since 2008 when European Capital invested in a mezzanine facility then put in place to support the spin-off of Unipex Group from Atrium Innovations, led by a private equity firm.

© 2013 PEPD • Private Equity’s Leading News Magazine • 2-5-13

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