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Scientific Protein Laboratories LLC

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American Capital Receives $210 Million from the Sale of SPL Acquisition Corp. and Generates a 15% Return on its Investment

BETHESDA, Md., April 17, 2014 /PRNewswire/ -- American Capital, Ltd. (Nasdaq: ACAS) ("American Capital") announced today that its portfolio company SPL Acquisition Corp., parent company to Scientific Protein Laboratories LLC (collectively "SPL" or the "Company"), was sold to Shenzhen Hepalink Pharmaceutical Co., Ltd. ("Hepalink"), one of the largest suppliers of heparin sodium in the world.  American Capital and its affiliated funds received $291 million in debt and equity proceeds, including escrows and expected tax refunds, and realized a gain of $59 million from the transaction, subject to post-closing adjustments.  Of the total proceeds, American Capital received $210 million in debt and equity proceeds, including escrows and expected tax refunds, realizing a gain of $33 million from the transaction, subject to post-closing adjustments.  American Capital also recognized $33 million of dividend income over the life of its investment.  In addition to the proceeds received at closing, there are contingent earnout payments in the amount of $211 million, which may be paid to American Capital and its affiliated funds upon SPL achieving specified milestones.  American Capital's compounded annual rate of return earned on its debt and equity securities over the life of its investment was 15%, including interest, realized gains and fees.  [ more... ]


American Capital Invests in One Stop Buyout™ of Scientific Protein Laboratories
Bethesda, MD - August 18, 2006 - American Capital Strategies Ltd. (Nasdaq:ACAS) announced today it has invested in the One Stop Buyout™ of Scientific Protein Laboratories LLC (SPL), a leading global independent manufacturer and supplier of biologic active pharmaceutical ingredients (APIs). American Capital's investment takes the form of a senior term A loan, a senior second lien loan, senior and junior subordinated debt and equity. American Capital is also providing a revolving credit facility. SPL management is also investing in equity. Post close, American Capital owns approximately 87% of the Company on a fully diluted basis. SPL was previously owned by Arsenal Capital Partners, SPL management and other investors. [ more... ]
 
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