Bethesda, MD -- American Capital Strategies Ltd. (Nasdaq:ACAS) announced today that its Board of Directors has named Ira Wagner Executive Vice President and Chief Operating Officer and elected Adam Blumenthal Vice Chairman. Mr. Blumenthal is stepping down from his role as President and Chief Operating Officer, but will remain on the Investment and Executive Committees and will continue to represent American Capital on the boards of portfolio companies.
"Ira, American Capital's first employee, brings exceptional skills and experience to his new position as Chief Operating Officer. Having already provided a great deal of leadership in his role of senior investment officer, I am confident that Ira will successfully execute our business plan for this year and the future," said Malon Wilkus, Chairman and CEO.
Mr. Wagner was Vice-President of American Capital from 1986 to 1988 and re-joined the Company in 1997 as a Principal. Since rejoining American Capital, he has invested approximately $150 million in 8 companies, was named a Senior Investment Officer, and has been a member of the Investment Committee. Prior to re-joining American Capital, Mr. Wagner was a Senior Vice President at MONY Capital Markets, where he was responsible for arranging financing in excess of $200 million.
"Adam has played a key role in American Capital's growth and development," said Mr. Wilkus. "In his work as President and COO, he has strengthened our operations and was integral to our expansion. As Vice Chairman, he will continue to provide important strategic leadership to the Company. Similar to the position held by Vice Chairman David Gladstone, Adam will review all potential investments of the Company while also being able to pursue other professional goals outside of American Capital."
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 President and Chief Operating Officer in 1999.
Chairman and CEO Malon Wilkus has assumed the additional title of President. David Gladstone will continue in his position as Vice Chairman of the board of directors.
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.
