|By PR Newswire||
|April 14, 2014 02:00 PM EDT||
BETHESDA, Md., April 14, 2014 /PRNewswire/ -- American Capital, Ltd. (Nasdaq: ACAS) ("American Capital") announced today that it has committed $71 million to support the acquisition of Luminator Technology Group ("Luminator") by Audax Group ("Audax"). Luminator is a leading designer and manufacturer of highly-engineered display, lighting and passenger communication systems for the global mass transportation market. Headquartered in Plano, TX, with additional operations in Denmark, Germany, Sweden, Brazil and Australia, Luminator serves OEMs and operators in the city bus, rail and aerospace markets worldwide. American Capital's investment takes the form of a second lien term loan, committed delayed draw facility and common equity.
"American Capital has partnered with Audax on numerous investments over the years and we are delighted to have the opportunity to work together again by providing financing for this very attractive investment," said Dan Cohn-Sfetcu, Managing Director, Sponsor Finance. "With more than 15,000 customers in approximately 80 countries, and facilities strategically located in key markets, Luminator is well-positioned to capitalize on global growth drivers that are increasing the demand for mass transportation across both developed and emerging markets."
"Over its 80 year history, Luminator has helped drive innovation in its served mass transportation markets across multiple technological cycles, and its products are recognized throughout the industry for their high quality and performance achieved through world class engineering innovation and design," said Ryan Brauns, Managing Director and Head of Sponsor Finance. "Our Sponsor Finance Group is solely focused on supporting top tier private equity firms by committing up to $150 million in capital to strong, leading middle market companies such as Luminator."
"American Capital's ability to provide creative and flexible financing solutions, their responsiveness throughout execution of the transaction, and their commitment to support the long-term growth of our portfolio companies makes American Capital an excellent investment partner," said Mark Cordes, Managing Director, Audax.
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 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 $19 billion of assets, including assets on its balance sheet and fee earning assets under management by affiliated managers, with $93 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 $9 billion of net book value, American Capital Mortgage Investment Corp. (Nasdaq: MTGE) with approximately $1 billion of net book value and American Capital Senior Floating, Ltd. (Nasdaq: ACSF). 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 AUDAX GROUP
Audax Group, founded in 1999, is a leading investor in lower-middle market companies. With offices in Boston and New York, Audax has over $5 billion in assets under management in its private equity, mezzanine and senior debt businesses. For more information, please refer to www.audaxgroup.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: (212) 213-2009
Ryan Brauns, Managing Director and Head of Sponsor Finance
Dan Cohn-Sfetcu, Managing Director, Sponsor Finance
SOURCE American Capital, Ltd.
DevOps is being widely accepted (if not fully adopted) as essential in enterprise IT. But as Enterprise DevOps gains maturity, expands scope, and increases velocity, the need for data-driven decisions across teams becomes more acute. DevOps teams in any modern business must wrangle the ‘digital exhaust’ from the delivery toolchain, "pervasive" and "cognitive" computing, APIs and services, mobile devices and applications, the Internet of Things, and now even blockchain. In this power panel at @...
Oct. 22, 2016 07:45 PM EDT Reads: 1,812
Oct. 22, 2016 07:00 PM EDT Reads: 758
Oct. 22, 2016 06:45 PM EDT Reads: 610
Oct. 22, 2016 06:00 PM EDT Reads: 8,955
Oct. 22, 2016 05:30 PM EDT Reads: 968
Oct. 22, 2016 05:30 PM EDT Reads: 479
Oct. 22, 2016 04:00 PM EDT Reads: 3,582
Oct. 22, 2016 04:00 PM EDT Reads: 3,843
Oct. 22, 2016 04:00 PM EDT Reads: 3,655
Oct. 22, 2016 03:45 PM EDT Reads: 1,441
More and more brands have jumped on the IoT bandwagon. We have an excess of wearables – activity trackers, smartwatches, smart glasses and sneakers, and more that track seemingly endless datapoints. However, most consumers have no idea what “IoT” means. Creating more wearables that track data shouldn't be the aim of brands; delivering meaningful, tangible relevance to their users should be. We're in a period in which the IoT pendulum is still swinging. Initially, it swung toward "smart for smar...
Oct. 22, 2016 03:45 PM EDT Reads: 650
Oct. 22, 2016 03:30 PM EDT Reads: 2,244
Oct. 22, 2016 03:00 PM EDT Reads: 3,894
Oct. 22, 2016 02:45 PM EDT Reads: 1,501
Oct. 22, 2016 02:45 PM EDT Reads: 1,541