Bethesda, MD -- American Capital Strategies, Ltd. (Nasdaq:ACAS) announced today that Sunvest Industries LLC, a platform holding company it has established to acquire contract manufacturers, has completed the purchase of Dyna-Fab Inc. and Advanced Fabrication Technologies Inc. In December 2000, American Capital invested $12 million in Sunvest in the form of senior term debt, senior subordinated debt with warrants and equity. LaSalle Bank provided a revolving line of credit. Dyna-Fab, located in Rockland, Mass., primarily serves the semiconductor and specialty Original Equipment Manufacturer markets. AFT, of Hayward, Calif., primarily serves medical and pharmaceutical customers as well as semi-conductor and specialty consumer products OEM markets. They are Sunvest's first acquisitions.
American Capital new investments in 2000 totaled approximately $275 million.
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"American Capital's buyout expertise is well suited to a platform company like Sunvest," said American Capital President and COO Adam Blumenthal. "Management's extensive network of industry contacts and M&A experience make them excellent investment partners."
"Sunvest is well positioned to capitalize on the OEM sector's need to deal with fewer, better integrated suppliers who can offer a full range of contract manufacturing services," said American Capital Principal Jeri J. Harman. "The benefits resulting from these acquisitions include the ability to expand relationships with existing customers and enhance manufacturing capabilities and specialization."
"American Capital's investment will benefit Sunvest, the acquired companies and our customers," said Sunvest CEO Terry Swain. "This capital infusion will permit Sunvest to better serve our market by continuing to improve supply chain management and better addressing the changing needs of our existing and new customers on a national basis."
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.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.
