Bethesda, MD -- American Capital Strategies, Ltd. (Nasdaq:ACAS) announced today that it has invested $19,625,000 in Case Logic, Inc., a designer and marketer of storage products and accessories for the audio, computer, photo/video, DVD, automotive and recreational markets. American Capital's investment takes the form of $15,125,000 in senior subordinated debt and $4,500,000 in junior subordinated debt. KRG Capital Partners, LLC is the transaction sponsor, having signed a definitive purchase agreement to purchase Case Logic from its Dutch parent, Hagemeyer N.V. GE Capital and Chase Manhattan are providing the senior debt and a revolving credit facility. American Capital joins with Albion Alliance in providing subordinated debt.
"American Capital is investing in a consumer products company distinguished by its market leadership, strong brand name and excellent financial performance," said American Capital President and COO Adam Blumenthal. "American Capital will continue to invest in companies that innovate in proven markets."
"Case Logic's management team has a solid track record running the company's extensive operations," said American Capital Principal Mark Schindel. "They are well-suited to transition the company from ownership by a corporate parent to independence."
American Capital is a publicly traded buyout and mezzanine fund. American Capital is an equity partner in management and employee buyouts; invests in debt and equity of companies led by private equity firms, and provides capital directly to private and small public companies. American Capital funds growth, acquisitions and recapitalizations.
Companies interested in learning more about American Capital's flexible financing and ability to provide senior debt, subordinated debt and equity should contact Mark Opel, Principal, at (800) 248-9340, or visit our website.
Capital.com, Inc., a portfolio company of American Capital, is a business finance portal where premier financing sources compete to provide receivable and inventory financing, machinery and equipment loans and leasing, real estate and construction financing, subordinated debt and equity financing for growth, acquisitions, management buyouts, liquidity, recapitalizations, ESOP transactions and SBA loans. Companies in need of financing or information about financial services should contact Capital.com at info@Capital.com, or call (646) 935-1100.
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.
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