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Q1 2008 Shareholder Presentation
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2007 Annual Report
American Capital Announces Tax Status of 2007 Dividends
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American Capital Portfolio Company Confluence's new CEO aims to boost sales, The Greenville News
On the Record: Samuel Flax, Legal Times
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OUR PEOPLE
American Capital: Bethesda Offices
Malon Wilkus |
(301) 951-6122 | ||||||||||
Chairman, Chief Executive Officer and President |
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Featured Coverage:In Focus: Malon Wilkus, Bloomberg TV, June 27, 2007 Malon Wilkus is the founder of American Capital and has been a director, Chief Executive Officer and President since the company's inception in 1986, and its Chairman since 1998. Since the company’s inception in 2005, Mr. Wilkus has been the Chairman of European Capital (LSE: ECAS), a $2 billion publicly traded private equity and mezzanine fund. Since the company’s inception in 2007, Mr. Wilkus has been the Chairman of American Capital, LLC, the fund management portfolio company of American Capital Strategies, LLC. He has served on the board of over a dozen middle market companies in various industries. |
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Ira Wagner |
(301) 951-6122 | ||||||||||
Executive Vice President and Chief Operating Officer |
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Ira Wagner re-joined American Capital in October, 1997 as a Principal and has over 20 years of experience as an investment banker and entrepreneur. Prior to re-joining American Capital, Mr. Wagner was a Senior Vice President at MONY Capital Markets, a specialty investment banking firm which arranged private financing primarily for companies in the food industry. While at MONY Capital Markets he was responsible for arranging financing in excess of $200 million for numerous companies. In May 2001 Mr. Wagner was named Executive Vice President and Chief Operating Officer. Prior to joining MONY Capital Markets, Mr. Wagner was employed by American Capital from 1986 to 1988, where he was responsible for the successful employee buyout of North Coast Brass. Prior to earning his M.B.A. at the University of North Carolina at Chapel Hill in 1985, Mr. Wagner was the co-founder of a business which distributed imported auto parts in western New England from 1975 through 1982. |
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John Erickson |
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Executive Vice President and Chief Financial Officer |
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John Erickson joined American Capital as Chief Financial Officer in January of 1998. He has more than 15 years of finance and accounting experience in private and public company settings.
Mr. Erickson spent nearly eight years with Storage USA, Inc. (NYSE:SUS) and its related subsidiaries. He served as the Chief Financial Officer and managed Storage USA's capitalization growth from $30 million to more than $1 billion during his tenure. Mr. Erickson negotiated and structured in excess of $750 million in public and private debt and equity offerings for Storage USA including its initial public offering. In addition to his capital raising activities, Mr. Erickson developed the business plan, structured and served as President of Storage USA Franchise Corp., a subsidiary which provides franchise services to the self-storage industry. |
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Samuel A. Flax |
(301) 951-6122 | ||||||||||
Executive Vice President and General Counsel |
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Samuel A. Flax joined American Capital in January, 2005, as its Executive Vice President and General Counsel. He also serves as the company's corporate Secretary and Chief Compliance Officer. Prior to joining American Capital, Mr. Flax was a senior partner in the corporate and securities practice group of the Washington, D.C. law firm of Arnold & Porter LLP. At Arnold & Porter, Mr. Flax was American Capital's principal external counsel since before the company's 1997 initial public offering. As outside counsel, Mr. Flax represented American Capital in raising more than $4.5 billion in debt and equity capital, advised the company on corporate, securities and other legal matters and represented the company in many of its investment transactions. At Arnold & Porter, Mr. Flax also represented a variety of other clients in a broad range of corporate and transactional matters including mergers and acquisitions, restructurings of sovereign and other debt, real estate investments and bankruptcy matters. Mr. Flax joined Arnold & Porter in 1985 and became a partner in 1990. He is a graduate of the Washington & Lee University School of Law, where he was an editor of the Law Review, and received his undergraduate degree in industrial engineering from Georgia Tech. Following graduation from law school, he was a law clerk for the Hon. H. Emory Widener, Jr., of the United States Court of Appeals for the Fourth Circuit. |
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Rich Konzmann |
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Senior Vice President, Accounting and Reporting |
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Rich Konzmann joined American Capital in September 2002 as the Controller. In January 2006, Mr. Konzmann was promoted to Senior Vice President, Accounting and Reporting. Prior to joining American Capital, Mr. Konzmann was the Vice President of Corporate Accounting for Crestline Capital Corporation, a publicly-traded company with over $4 billion of revenues engaged in the business of owning, leasing and managing hotels and senior living communities from December 1998 to August 2002. Prior to joining Crestline Capital, Mr. Konzmann was with Host Marriott Corporation, a publicly-traded hotel real estate company with over $7 billion in assets. Mr. Konzmann served in various roles with Host Marriott in corporate accounting and asset management from November 1993 to December 1998. Prior to joining Host Marriott, Mr. Konzmann was with the accounting firm Deloitte. Mr. Konzmann received his Bachelor of Science in Accounting from the Pennsylvania State University. He is a Certified Public Accountant. |
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Tom McHale |
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Senior Vice President, Finance |
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Tom McHale joined American Capital in December 1998. Prior to joining American Capital, he served as Controller of Silver Diner, Inc., a publicly traded restaurant company. Tom began his career as an auditor with Price Waterhouse working with financial institutions and technology companies. Mr. McHale received a Bachelor of Science in Business Administration in Accounting and Management from Georgetown University. He is a Certified Public Accountant. |
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Justin Cressall |
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Vice President, Equity Capital Markets |
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Justin Cressall is Vice President of Equity Capital Markets of American Capital and is responsible for raising both public and private equity for American Capital. Prior to joining American Capital, Mr. Cressall was most recently Senior Vice President and Treasurer of Platinum Underwriters, a publicly traded reinsurance company. Prior to Platinum, Mr. Cressall worked as a Director in the Transaction Services division of KPMG LLP where he focused on financial services. Mr. Cressall received his Master of Business Administration from the University of Toronto and Bachelor of Arts in Economics from Tufts University. Mr. Cressall is a Chartered Accountant. |
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Jim Griffin |
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Vice President, Private Capital Fundraising |
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Jim Griffin joined American Capital Strategies in 2007 as Vice President of Private Capital Fundraising. Jim possesses thirteen years of private equity fundraising experience and founded a private equity placement firm. Prior to joining American Capital, Jim was the Managing Director and Founder of The Sulgrave Group. He has also worked as Managing Director at Questor Management Company, Principal at Veritas Capital, Founding Partner of Alignment Capital Partners and Vice President at The Carlyle Group. Jim holds a Master of Business Administration from the Babcock Graduate School of Business at Wake Forest University and a Bachelor of Arts in Economics from the College of William & Mary. |
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John Hooker |
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Vice President, Debt Capital Markets |
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Mr. Hooker joined American Capital in January 2006 as Vice President of Debt Capital Markets, where his responsibilities include the structuring and raising of debt for American Capital and its managed funds, asset/liability management, and management of global banking relationships. Prior to joining American Capital, Mr. Hooker served as Vice President over the Capital Markets and Financial Risk Management Group at Marriott, where he created and led its timeshare asset-backed securities program, generating $100 million in earnings per year for the public company. While at Marriott, his group securitized over $2 billion of timeshare notes. Prior to that, he was the Senior Treasury Manager for CNL American Properties Fund, where he structured lease securitization vehicles, and ran the hedging program and corporate cash management. While at CNL Mr. Hooker was also instrumental in creating its inaugural franchise finance securitization and follow-on issuances of approximately $800 million. Prior to CNL, Mr. Hooker worked for SunTrust Bank and AmSouth Bank, managing large corporate and middle market credits. Mr. Hooker graduated magna cum laude from Florida State University with a BS in Finance, and graduated with honors with an MBA from The Crummer School of Business at Rollins College. |
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Michael Sarner |
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Vice President, Treasury |
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Michael Sarner joined American Capital in October 2000 as a Financial Analyst. He was promoted to Treasury Manager in 2002 and has since been promoted to Director in 2004. Prior to joining American Capital, he served as Senior Analyst for Diveo Broadband Networks, Inc., a Washington, DC based communications and Internet Infrastructure provider. His primary duties included analysis of the Latin American markets and capital raises. Mr. Sarner also worked at Healthcare Financial Partners performing and managing due diligence and monitoring portfolio company performance. Michael began his career as an auditor with Keller Bruner & Company auditing and consulting financial institutions and government contractors Mr. Sarner received his Master of Business Administration from George Washington University and his Bachelor of Science in Business Administration in Accounting from James Madison University. He is a Certified Public Accountant. |
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Amanda Cuthbertson |
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Director, Investor Relations |
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Amanda Cuthbertson joined American Capital in 2004, as Investor Relations Manager. Prior to joining American Capital, Ms. Cuthbertson was a Director with the Corporate Executive Board in Washington, DC, a leading provider of best practices research and analysis focusing on corporate strategy, operations and general management issues. Previously, Ms. Cuthbertson worked in Investor Relations for a regional mall REIT in Arlington, VA. Ms. Cuthbertson began her career with Legg Mason in investment banking, where she focused on public and private offerings of equity and debt securities, as well as merger and acquisition advisory services for clients in the financial services and financial technology industries. Ms. Cuthbertson is a graduate of the University of Maryland at College Park with a Bachelor of Science in Finance. |
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Pete Deoudes |
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Director, Equity Capital Markets |
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Pete Deoudes is Director of Equity Capital Markets of American Capital and is responsible for the institutional investor base of American Capital. Prior to joining American Capital, Pete was a Vice President at Capital One for the past 12 years in a variety of Finance positions, including two years as Director of Investor Relations. Prior to Capital One, Pete worked as an Auditor at Price Waterhouse in Washington, D.C. Pete received his B.S. in Accounting from the University of Delaware in May 1990. He is a non-practicing certified public accountant and a member of the A.I.C.P.A. |
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David Malcarney |
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Director, Equity Capital Markets |
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David Malcarney joined American Capital as a financial analyst in 2004. Mr. Malcarney was promoted to Director of Equity Capital Markets in 2007 and focuses on structuring and raising equity for new business initiatives. Prior to joining American Capital, Mr. Malcarney was a financial analyst with ZweigWhite & Associates in Washington, DC, a leading provider of management consulting and financial advisory services to middle market firms in the engineering and construction industries. Mr. Malcarney is a graduate of Georgetown University with a Bachelor of Science in Finance. |
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David Ehrenfest Steinglass |
(301) 951-6122 | ||
Managing Director and Senior Vice President, Corporate Development |
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David Ehrenfest Steinglass joined American Capital in 1997, and has worked on 23 transactions, investing $650 million of capital. From 2000 until 2005, he was jointly responsible for the Bethesda-based investment team of twelve professionals, and served as a member of the American Capital investment committee. In January 2006, he assumed the role of Senior Vice President, Corporate Development, with project management responsibility for the launch of geographic- and sector-specific funds as well as execution responsibility for strategic acquisitions. Mr. Ehrenfest Steinglass was directly responsible for investments in Soil Safe, TechBooks, Selig Sealing Products, Dynisco, Hopkins Enterprises, Technical Concepts, PaR Systems, DanChem Technologies, Weston Solutions, Texstars, Iowa Mold Tooling, Auxi Health and Unique Fabricating.Mr. Ehrenfest Steinglass serves as the chairman of Soil Safe and PaR, and is on the executive committee of Weston Solutions. Mr. Ehrenfest Steinglass received his J.D., magna cum laude from New York University School of Law and his A.B., magna cum laude from Harvard University. |
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Jon Isaacson |
(301) 951-6122 | ||||
Managing Director, Buyouts |
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Mr. Isaacson joined American Capital as a Principal in 2002 and was promoted to Managing Director in 2005. He is a rotating member of the firm’s Investment Committee and leads the Mid-Atlantic and New England buyout coverage practice. Jon was previously with Thayer Capital Partners, a Washington D.C. based private equity firm where he worked as a Managing Director focusing on outsourced business services investments and was a member of the firm's Investment Committee. Mr. Isaacson joined Thayer from GTCR Golder Rauner, LLC, a Chicago-based private equity firm. Previous to GTCR, Mr. Isaacson was a Financial Analyst for Morgan Stanley & Co. and a Management Consultant for McKinsey & Co. Jon has extensive experience and expertise investing in business process outsourcing (BPO), information technology services, installed base software, distribution and logistics, transaction processing, healthcare services, education and training and marketing services companies. Previously, he has served on the Board of Directors for Vigilinx, Inc., Primary Multicraft, Inc., RoadRunner Freight Systems, Montana Silversmiths, Inc., Renaissance Interactive and Western Wats, Inc. Currently, he serves on the Board of Directors for Affordable Care, Inc., Marina Medical Billing Service, Inc., Financial Asset Management Systems, Inc., Contec, LLC, and Astrodyne Corporation. He is also an observer on the Board of Directors for Compusearch Software Systems, Inc. and RoadRunner Freight Systems and formerly was an observer at WIL Research Laboratories and Beacon Hospice. Mr. Isaacson received his Master of Business Administration from Stanford University Graduate School of Business and a Bachelor of Arts in Political Science from The Johns Hopkins University. |
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Sean Eagle |
(301) 951-6122 | ||||
Principal, Buyouts |
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Sean Eagle joined American Capital Strategies in April 2001 in the Bethesda, MD office. He began his career as an audit associate in the Washington, D.C. office of Deloitte & Touche, focusing on the financial services industry. He subsequently joined ePlus, a provider of Internet-based, business-to-business supply chain management solutions, as a business analyst. Upon graduating from business school, Mr. Eagle worked as an associate in the Financial Institutions Group of Goldman Sachs. Mr. Eagle received an M.B.A. in finance from the Wharton School of the University of Pennsylvania, where he was a Palmer Scholar. He received a Bachelor of Science in Commerce, with distinction, from the McIntire School of the University of Virginia. |
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Eugene Krichevsky |
301-951-6122 | ||||
Principal, Buyouts |
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Eugene Krichevsky joined American Capital in May 2003 as an Associate in the Bethesda office. Prior to joining American Capital, Mr. Krichevsky was an Associate at Willis Stein & Partners, a Chicago-based private equity firm with approximately $3 billion of capital under management. Mr. Krichevsky began his career in the Investment Banking Division at BT Alex. Brown, where he focused on consumer and business services clients. Mr. Krichevsky received an MBA from the Wharton School of the University of Pennsylvania, where he was a Palmer Scholar. He received a BS in Commerce from the McIntire School of the University of Virginia. |
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Justin DuFour |
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Vice President, Buyouts |
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| Justin DuFour joined American Capital in 2001 and is currently a Vice President in the Washington D.C. office. Prior to joining the Washington D.C. Buyouts team, Mr. DuFour worked directly for the firm’s Investment Committee, evaluating investment opportunities and managing the firm’s due diligence process. He began his tenure with American Capital as a Senior Manager for the Financial Analysis and Compliance Team (FACT). Mr. DuFour started his career with the Washington D.C. office of KPMG LLP. He received a Bachelor in Business Administration from the University of Notre Dame. Mr. DuFour currently serves as an observer on the Board of Directors for Financial Asset Management Systems, Inc., Contec LLC, Affordable Care, Inc., PaR Systems, Inc., triVIN, Inc., and WRH Holdings, Inc. | |||||
Rodd Macklin |
(301) 841-1342 | ||||
Vice President, Buyouts |
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Rodd Macklin joined American Capital in 2007 as Vice President, Business Development. Previously, he was the Chief Financial Officer of Perseus, L.L.C., a private equity fund management firm based in Washington, D.C. with approximately $2.0 billion in capital under management. Mr. Macklin joined Perseus at the firm's inception in 1996. Prior to joining Perseus, he held positions with Arthur Andersen and Legg Mason, Inc. Mr. Macklin holds a Bachelor of Science in Mathematics from the College of William and Mary and a M.B.A. from the Wharton School of the University of Pennsylvania. |
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Robert K. Grunewald |
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Managing Director, Financial Services Group |
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Bob Grunewald joined American Capital in April 2006 as Managing Director of the Financial Services Group. Prior to joining American Capital, Mr. Grunewald had been Managing Director at Wachovia Securities, where he founded and led the Specialty Finance Investment Banking practice. Before joining Wachovia Securities, Mr. Grunewald headed the Specialty Finance Mergers and Acquisitions practice at NationsBank Securities. Mr. Grunewald’s financing, structuring and advisory experience encompasses the commercial and consumer finance industries as well as the insurance and asset management sectors. He has worked in the Financial Services industry for over 15 years completing numerous mergers and acquisitions, public and private equity raises and structured financings. Mr. Grunewald holds a Master of Business Administration from Georgia State University and a Bachelor of Business Administration from the University of Notre Dame. |
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Jason Campbell |
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Vice President, Financial Services Group |
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Jason joined American Capital in March of 2007. Previously, he was a Vice President in Merrill Lynch’s Global Structured Finance and Investments group in New York. Prior to Merrill Lynch, Jason held various finance and capital market positions at Eloan.com and Toyota Motor Credit Corporation and was an officer in the Army. Jason holds a Bachelor of Science in Business from the University of Southern California and an M.B.A. from Indiana University with an emphasis in Finance. Jason is a CFA charterholder. |
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Bret Bero |
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Vice President, Operations Team |
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Bret Bero joined American Capital Strategies in 2007 as a Vice President on the Operations Team. Bret currently serves on the boards of Resort Funding and Core Business Credit. Prior to joining American Capital, Bret was the President, North America for Drake Beam Morin (DBM), a leading global provider of career transition services. Bret was recruited to lead the turnaround of DBM’s North American business that generated over $75 Million in revenues from its 80 offices and 950 employees. DBM North America was able to significantly increase its profit margin by establishing enhanced management control systems and new service delivery processes. DBM also was able to acquire new customers by instituting sales management processes and developing industry segmented marketing strategies. Prior to DBM, Bret and a partner founded ECHO Industries, Inc. to acquire the assets of a metal forming manufacturing company in a leverage buy-out. Bret has over 17 years of increasing leadership roles in world class consulting firms. As a Partner at Accenture, he was the operations lead for the Human Performance service line, and developed the Organization Strategy service offering. Bret was a Vice President and led multi-discipline project teams in addressing Business Process Reengineering, business strategy, and organization change issues for clients in the Diversified Industries/Diversified Services industry group at Gemini Consulting. While he was with Price Waterhouse, Bret addressed client cost management and financial effectiveness issues. His clients have included firms such as Marriott, Highmark BlueCross/BlueShield of Western PA, Ferguson Enterprises, Bausch & Lomb, National Services Industries, Lanier, Oldsmobile, Tupperware, Harry & David, KeyCorp, New York Life, and International Thomson. Bret began his professional career as a manufacturing cost analyst with Digital Equipment Corporation. He holds an MBA from the Tuck School of Business at Dartmouth College and an AB in Economics and Political Science from Middlebury College. Bret resides in Carlisle, Massachusetts. |
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Robert N. Brooks |
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Vice President, Operations Team |
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Bob Brooks came to American Capital from Handy and Harman, a $500MM subsidiary of WHX Corporation, in May 2004. While at H&H, Bob served as a Corporate Officer and Group Vice President for several of the Company’s divisions, including their Precious Metal Fabrication Group, Speciality Wire Group, and Continental Industries Business Group. He also served as VP of Strategy and Development for the Company. Prior to WHX, Bob was a Corporate Officer and VP Manufacturing for General Signal Corporation, a $2.2B diversified industrial products company. He was responsible for operational due diligence and integration of the corporation's "bolt on" acquisition program, as well as for corporate-wide productivity and continuous improvement. Before the GSX corporate role, Bob served in GM, and SVP roles in multiple strategic business units where he was directly responsible for Operations, R&D, Global Supply Chain Operations (PRC, India, Eastern Europe and Mexico), and SBU and Group P&L performance. Prior to joining GSX, Bob worked for Union Carbide Corporation. He also served with the US Army Corp. of Engineers. Bob received his BS degree from the University of Maine and lives in the small costal community of Stockton Springs, Maine. |
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Harry Davoody |
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Principal, Operations Team |
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Harry Davoody joined American Capital in April 2007 as a Principal on the Operations Team responsible for the Technology Portfolio. Prior to joining American Capital, Harry was the Founding CEO of the high-tech start-up LedEngin, Inc. which addressed the global market for LED Solid-State Lighting components and modules. He built the organization and managed the business strategy, new product development, IP creation & protection, marketing, operations, and third-party manufacturing in Asia. Prior to LedEngin, Harry served as Senior Vice President and General Manager for Multi Service Access Division of Mindspeed Technologies. His division developed digital signal processors with embedded software for Voice-over-IP telecommunication applications. Prior to Mindspeed, he held the position of President & CEO of ST Assembly Test Services in Singapore where he was responsible for leading state-of-the-art manufacturing plants in Singapore and China. Prior to STAT, he worked at Texas Instruments, Inc. for two decades. Harry started his career at Texas Instruments Semiconductor Group in 1980 and held various positions with increasing levels of responsibility in engineering, marketing, global operations, business strategy, product management, and as senior executive. He led three global divisions of Texas Instruments as Vice President & General Manager and was responsible for an annual full P/L of USD $1B. Harry holds a Bachelor’s degree in Electrical Engineering from University of Texas at Arlington, a Master’s degree in Electrical Engineering from Southern Methodist University in Dallas, and an MBA with specialization in Engineering Management from University of Dallas. |
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Mike Eblin |
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Vice President, Operations Team |
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Mike joined American Capital in November 2007. Previously Mike was an Operations Executive for Cerberus Operations and Advisory Company, where he provided executive level due diligence for the aerospace, consumer electronics, telecommunications, semiconductors, photo imaging, roofing and packaging industries. At Cerberus, he developed and initiated a company-wide “accelerated results and rapid turn-around” program for its portfolio companies. Additionally, Mike was President/COO of Suntron Corporation where he drove the turn-around and returned the company to profitability with leading industry ROIC. As part of the senior management team at Sony’s Rear Projection and Direct TV Businesses, representing over $1.2 Billion in revenues, Mike increased market share by 103%, drove net income up 181% and revenues by 108%. Mike received his BSEET degree from the DeVry Institute of Technology. Mike is also a Six Sigma Champion and Black Belt as well as completed an Executive Lean manufacturing program. Mike resides in Glendale, Arizona. |
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Mark Fikse |
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Principal, Operations Team |
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Mark Fikse joined American Capital Strategies in 2006 as a Principal on the Operations Team. Mark currently serves on the board of directors of American Capital portfolio companies American Driveline, Pan Am International Flight Academy, The Meadows of Wickenburg, Velocity Financial Group, and WIS International. Prior to joining American Capital, Mark was president of Creative Touch Interiors, an $800+ million subsidiary owned by The Home Depot. Creative Touch Interiors provides design center and turn-key installation services to homebuilders across the nation. Mark led the development of this enterprise from the initial stages, through six acquisitions and rapid organic growth. Prior to this role, he was Vice President of Strategic Business Development for The Home Depot where he was actively involved leading acquisitions for the company. Mark also spent over eight years as a consultant with McKinsey & Company and Arthur Andersen. He holds an MBA from The Fuqua School of Business at Duke University and an undergraduate degree in business and accounting from Hope College. Mark is also a CPA. |
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Ross Fuller |
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Vice President, Operations Team |
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Ross Fuller joined American Capital in July 2003 as a Portfolio Analyst in the Bethesda Office. He was promoted to Portfolio Mana | |||






