BETHESDA, Md., Aug. 17 /PRNewswire/ -- American Capital (Nasdaq:ACAS), today announced that Adam Blumenthal has been promoted to the position of President. Mr. Blumenthal will continue to serve as Chief Operating Officer.
Malon Wilkus, Chairman and CEO of American Capital, said "Last week we successfully completed our follow-on equity offering that significantly expanded our capital resources. Adam has played a central role in managing the process of increasing deal flow and investing our resources. The promotion is an acknowledgement of the outstanding results Adam has achieved in managing our nationwide mezzanine and buyout business. Adam has made tremendous contributions to American Capital during the past ten years. I am confident that as President he will make greater contributions to our future."
Mr. Blumenthal stated, "American Capital is achieving our goal of being a dynamic, long-term financial partner for entrepreneurial management teams, owners, and employee-owners of middle market companies throughout the country. We have invested more than $240 million in the past two years; over $48 million of that was invested in the last two months. We are benefiting from a growing reputation for quickly developing responsive and creative investment structures in middle market sectors that have seen limited financing options in the past. I am looking forward to continuing to work with our principals to expand our investments in management and employee buyouts, growth, acquisitions and liquidity financings."
Mr. Blumenthal joined American Capital in 1989 as an associate. He was named Vice President in 1990, joined the company's board of directors in 1993, became Executive Vice President in 1996, and was named Chief Operating Officer earlier this year. He is a graduate of Harvard College and of the Yale School of Management. Mr. Blumenthal is an internationally recognized expert on ESOP structured corporate transactions.
American Capital is a buyout and specialty finance company with capital resources exceeding $360 million. American Capital invests in senior debt, subordinated debt and equity in middle market companies in need of capital for growth, acquisitions, ESOP buyouts, management buyouts, liquidity and restructurings. Companies interested in learning more about American Capital and our flexible financing should contact John Hoffmire, Vice President of Sales and Marketing, at (800) 248-9340 or visit our website at www.AmericanCapitalOnline.com or our shareholder site at www.ACASOnline.com.
This press release contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The statements regarding expected results of American Capital Strategies 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 or national economic conditions, or changes in the conditions of the industries in which American Capital has made investments.
