OUR PEOPLE

Mr. Anderson joined American Capital in January 2007 as a Managing Director of the Special Situations Group in the Chicago office. Prior to joining American Capital, Mr. Anderson was a Managing Director of Questor Management Company, a $1.1 billion private equity firm focused on turnarounds and distressed investments. During Mr. Anderson’s ten years with Questor in New York and Chicago, he was directly involved with over $1.1 billion of acquisitions and investments and served on numerous Boards of Directors.

Prior to joining Questor at its initial formation, Mr. Anderson began his career in the bankruptcy and restructuring group of Coopers & Lybrand followed by the turnaround consulting firm AlixPartners.

Mr. Anderson holds a B.S. degree in Mathematics from Vanderbilt University and an MBA with High Distinction from the Ross Business School at the University of Michigan.

Miles Arnone joined American Capital in September 2002 as a Vice President in the Operations Team and was promoted to Principal in 2004 and to Managing Director in 2007. Mr. Arnone co-heads the American Capital Technology Group and is based in Boston, MA. He is involved in the Technology Group's current investments in Moxy Media, FreeConference.com, NextPoint, Tymphany Corporation and Contour Semiconductor, and serves on the Board of Directors of these companies and others, including Axygen, Inc., Value Plastics, Inc., Astrodyne Corporation, Electro-Component Assembly Company, Futurelogic, Inc., and eLynx, Ltd.

Previously, Mr. Arnone was Entrepreneur-in-Residence at Charterhouse Group International, a private equity firm with $1 billion under management. There, Mr. Arnone was responsible for conducting due diligence and managing portfolio companies. His assignments included work in the machine tool, electronics, and medical device industries.

Prior to his tenure at Charterhouse Group Mr. Arnone was President of Boston Digital Corporation, a machine tool builder with approximately $30 million in sales. While there he authored the reference work High Performance Machining, an implementation guide for recent innovations in CNC machining. His most recent work, America's Trading Partners: the Good, the Bad, and the Ugly was published in November 2004.

Mr. Arnone holds graduate degrees in management and engineering from the Massachusetts Institute of Technology and an undergraduate degree in mechanical engineering from MIT as well.

Mr. Capperella joined American Capital in July 2006 in the New York office as Managing Director and head of the Second Lien Group.  Prior to joining American Capital, Mr. Capperella was Senior Vice President at GE Capital Markets responsible for structuring and selling of all GE junior capital transactions.  Prior to GE, Mr. Capperella spent time at two mezzanine funds where he was responsible for originating, structuring and closing middle market deals.  Mr. Capperella began his leveraged lending career at Heller Financial where he spent 9 years underwriting, documenting, closing and monitoring asset-based and cash flow transactions.

Mr. Capperella holds a B.S. degree in Civil Engineering from the University of Delaware and an M.B.A. from the University of Chicago.

Luis Felipe Castellanos joined European Capital in July 2007 as Managing Director in the Madrid office. Prior to European Capital, Luis Felipe was Managing Director and Head of Leveraged Finance of Spain and Portugal at BNP Paribas in Madrid. At BNP Paribas, he managed LBOs, MBOs, recapitalizations and refinancings, among other types of transactions. While at BNP Paribas, Luis Felipe also held other positions, including Head of Energy, Commodities, Export & Project Finance for Spain and Portugal and Director of the Project Finance & Utilities Group first in Paris and then in New York. He began his career at ACS-Dragados in Madrid, working in the M&A Group. Luis Felipe holds a degree in economics from the Universidad Autónoma in Madrid.

Roland Cline has worked as a principal at American Capital since 1988, during which time he has led or participated in dozens of merger and acquisition transactions. Prior to American Capital's IPO in 1997, Mr. Cline orchestrated change-of-control ESOP and management buyout transactions. He led seven, post-IPO portfolio investments involving $209 million of ACAS funding which yielded a 19.0% weighted-average, realized IRR. Mr. Cline has served as a director at 10 American Capital portfolio companies during the past 10 years. He was promoted to Managing Director of the San Francisco office in 2001 and became a member of the Investment Committee in 2002. Mr. Cline was seconded to the Paris office in 2005.

Prior to joining American Capital, Mr. Cline founded and directed an advisory firm that specialized in leveraged buyouts and other investment banking services, and undertook a limited engagement to provide investment banking and privatization services in Eastern Europe. Prior to that Mr. Cline worked for the Industrial Cooperative Association where he led his first leveraged ESOP buyout in 1985. From 1979 to 1983, he was Director of Technical Assistance at the Institute of Public Administration where he developed turnaround business plans for manufacturing firms. From 1976 to 1979, Mr. Cline held management positions in market research and business planning at the Alberto Culver Company and at International Harvester.

Mr. Cline earned a B.A. in 1970 and an M.B.A. in 1976, both at the University of Wisconsin at Madison.

Doug Cooper joined American Capital in 2005 as Managing Director of the Commercial Mortgage Asset Management Group. Mr. Cooper had been Managing Director at Allied Capital Corporation, where he was involved in all aspects of the companys Commercial Mortgage-Backed Securities investment program, including bond investment selection, real estate due diligence, structuring, securitization and surveillance. Mr. Cooper has spent his career in the commercial real estate mortgage business, including nine years of direct CMBS due diligence and surveillance experience and has been involved in the investment decisions of over 60 CMBS transactions totaling over $100 billion in underlying loans.

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Managing Director Profile, Sponsor Finance Team

Bowen Diehl joined American Capital in October 2001 as a Vice President in the Dallas office, was promoted to Principal in 2004, and then promoted to Managing Director in January, 2007 where he is now responsible for the Sponsor Finance Group for the Western Offices for American Capital (Dallas, Chicago, Los Angeles and San Francisco).  Prior to joining American Capital, Mr. Diehl was a Vice President in Investment Banking at Merrill Lynch where he focused on mergers and acquisitions advisory assignments, as well as public debt and equity offerings for companies in the southwest United States. While at Merrill Lynch, Mr. Diehl gained experience working with companies in the exploration and production, oilfield services, natural gas pipeline, natural gas gathering and processing, homebuilding and semiconductor sectors. Prior to joining Merrill Lynch, Mr. Diehl was with Chase Securities, Inc. from 1995 to January 2000, most recently as a Vice President in the Global Oil and Gas Group. While at Chase, Mr. Diehl gained experience in mergers and acquisitions, leveraged buyouts, corporate restructurings, public debt offerings, as well as equity and mezzanine private placements. Mr. Diehl is currently Chairman of the Boards of Scientific Protein Laboratories, Meadows of Wickenburg and of ETG Holdings, serves as a member of the Boards of TestAmerica, Spring Air, and Forba (d/b/a Small Smiles), and serves as an observer on the Board of Creditcards.com.

Mr. Diehl holds a Bachelor of Engineering in Environmental and Geotechnical Engineering and a Bachelor of Arts in Economics from Vanderbilt University. Mr. Diehl also holds a Masters of Business Administration from The University of Texas at Austin.

Frank Do joined American Capital as a Principal in the Los Angeles office in 2002 and was promoted to Managing Director and head of the office in 2004. Mr. Do is currently responsible for the firm’s West Coast buyout practice. He has more than seventeen years of private equity experience with total invested capital of over $1 billion. Prior to joining American Capital, Mr. Do was General Partner at Westar Capital, a private equity firm based in Southern California. Before that, he was a Principal at Chase Capital Partners (now JP Morgan Partners/CCMP Capital). His investment experience includes venture capital, growth equity, leveraged recapitalizations, middle market buyouts, and mezzanine debt. Mr. Do has experience investing in a broad range of industries, including consumer products, information services, specialty retailing, basic industrial, value-added distribution, healthcare services, medical devices, and capital goods.

Mr. Do holds a B.A. in Economics and International Relations from Claremont McKenna College and an M.B.A. from Harvard Business School.

Jean Eichenlaub joined European Capital in May 2005 as Managing Director in the Paris office. For five years prior, Jean was Deputy Managing Director at the banque Lazard’s private equity subsidiary, Fonds Partenaires-Gestion. He has led mid-cap private equity transactions in the health sector, light industry and manufacturing, specialized distribution and hospitality involving in the aggregate more than €500 million in the French market. Before that he was a Director and head of the asset and structured finance department at Commerzbank in Paris. He began his career as a site engineer for Bovis Lend Lease in London and Madrid.

M. Eichenlaub received a Masters in Civil Engineering and an MBA from the Ecole Nationale des Ponts et Chaussées. He also holds a diploma in Engineering Systems Analysis from The Massachusetts Institute of Technology.

Nathalie Faure Beaulieu joined European Capital in 2005 as a Managing Director in the London office. She joins the firm from Mezzanine Management U.K., where she was a Managing Director and member of the Investment Committee for European Investments. Her deal responsibilities included origination, structuring, syndicating and management of investments, representing Mezzanine Management on the Boards of Directors of portfolio companies where appropriate. Ms. Faure Beaulieu was originally in charge of developing Mezzanine Management's French office, which opened in 1995.

Prior to joining Mezzanine Management in 1992, Ms. Faure Beaulieu worked at DG Investment Bank in London. She has deal experience in the U.K., France, Germany, Benelux, Italy, and the U.S. Since 1990 Ms. Faure Beaulieu has participated in 26 mezzanine transactions worth more than €315 million.

Mr. Gallaher joined American Capital in February 2007 as a Managing Director of the Credit Opportunities Group in the Los Angeles office. He has over twenty years of distressed and turnaround experience. Prior to joining American Capital, Mr. Gallaher was President of William E. Simon & Sons Special Situations where he managed domestic and offshore distressed funds. He was also a member of William E. Simon & Sons Executive Committee and Investment Committee overseeing private equity, real estate and special situations.

Prior to joining William E. Simon & Sons, Mr. Gallaher worked for Bank of America where he coordinated the resolution of multiple workouts in various industries; coordinated the resolution and sale of over $1 billion of non-accrual loans related to Bank of America's acquisition of Security Pacific Bank; and established and managed a global distressed proprietary fund.

Mr. Gallaher holds a B.A. with honors in Economics from the College of William and Mary, a M.A. with honors and L.L.M. with honors in Private International Law from Cambridge University.

Mr. Graff joined American Capital in July 2001 as a Principal, was promoted to Managing Director and became a member of the Investment Committee in 2004, and was promoted to Regional Managing Director in 2005. Prior to joining American Capital, Mr. Graff was a Principal with Odyssey Investment Partners, a $760 million private equity fund specializing in leveraged buy-outs and growth financings for middle-market companies. Prior to Odyssey, Mr. Graff was a Senior Vice President of GE Equity, where he was responsible for direct equity investments in the form of LBOs, LBUs and growth financings. Prior to GE, Mr. Graff was a Director of Mergers & Acquisitions at Automatic Data Processing, Inc.

He started his career with Coopers & Lybrand where he worked as a Certified Public Accountant, spending six years in various corporate finance and business assurance positions that focused on middle-market companies.

Mr. Graff holds a B.S. degree in Accounting from the State University of New York at Binghamton and an M.B.A. from NYU's Stern School of Business.

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Managing Director Profile, Financial Services Group

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.

Joel Houck joined American Capital in 2007 as Managing Director of Fund Financing. Prior to American Capital, Joel was a senior equity analyst at Wachovia Capital Markets LLC, covering companies in the specialty finance sector. Joel has also worked for A.G. Edwards & Sons Inc. as a senior equity analyst, where he established research coverage of the specialty finance sector. He came to A.G. Edwards after six years in the commercial banking industry, when he worked as a credit and commercial loan officer for NationsBank Corp. (formerly Boatmen’s Bancshares) and PNC Bank Corp. Mr. Houck was recognized six times in the annual Wall Street Journal poll "Best on the Street" published in 2000, 2001, 2002, 2004, 2005 and 2006. He was also ranked the number 1 stock picker in his sector in both 2000 and 2001.

Joel is a Chartered Financial Analyst and holds a B.S. in mathematics and statistics and an M.B.A. in finance from Miami University in Oxford, OH.

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Managing Director Profile, Buyout Investment Team

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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Managing Director Profile, Buyout Investment Team

Robert Klein joined American Capital in January 2002 as a Principal in the New York office and was promoted to Managing Director in 2004. He has led private equity transactions involving, in the aggregate, more than $1.3 billion. Prior to joining American Capital, he was a Principal at American Securities Capital Partners. Before that, Mr. Klein spent eight years at American Industrial Partners, where he was Managing Director. He previously worked in the Mergers and Acquisitions groups of First Boston and Morgan Stanley, where he was an Associate and an Analyst, respectively, focusing on media and telecommunications projects. Mr. Klein was also a Summer Associate for Acadia Partners, L.P., the private equity affiliate of the Robert M. Bass Group. He is a Professional Fellow of the New York University Center for Law and Business.

Mr. Klein was Phi Beta Kappa and received a BA degree summa cum laude in History of Art from Yale University. He also received a JD degree with Distinction from the Stanford University Law School.

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Managing Director Profile, Energy Group

Kevin W. Kuykendall joined American Capital in April 2003. In January 2005, Mr. Kuykendall was placed in charge of building an energy investing effort for American Capital. Mr. Kuykendall was promoted to Managing Director in 2006 and now leads a team of ten energy-focused investment professionals and one operating professional based in Dallas, Texas.

Prior to joining American Capital, Mr. Kuykendall was a Director in the Principal Investments Group of Enron Corp., where he spent six and one-half years originating, executing, managing, and exiting a wide variety of energy-related investments, including leveraged buyouts, asset breakups, and early-stage direct equity investments in the exploration and production, oilfield services, coal, utility services, power, and power technology sectors. Mr. Kuykendall currently serves as Chairman of the Board of BPWest, Inc., Innova-Extel Acquisition Holdings, Inc., and SunFuel Midstream, LLC and serves as a Board Member of Explorer Pipeline Company, in addition to having served on ten additional Boards of Directors over portions of the past twelve years.

Kevin earned an M.B.A. with a Finance Concentration from the University of Texas at Austin and a B.B.A. in Finance, summa cum laude from the University of Oklahoma.

Jeff MacDowell joined American Capital in April 2001 as a Principal in the Dallas office and was promoted to Managing Director in 2005. Prior to joining American Capital, Mr. MacDowell was Vice President - Finance and Corporate Development of Dynamex Inc., a publicly-traded same-day transportation company with $250 million in revenues. From 1996 to 1998, Mr. MacDowell was with BACE Industries, LLC, a private equity firm specializing in industry consolidations. During his tenure at BACE, Mr. MacDowell was Vice President of RentX Industries, Inc., an equipment rental industry consolidator.

Prior to joining BACE, Mr. MacDowell was with Banque Paribas from 1991 to 1996 as a Vice President in the Merchant Banking Group where he focused on senior debt financings primarily for private equity sponsors. While at Paribas, Mr. MacDowell was involved in financing commitments that totaled in excess of $800 million. Prior to Paribas, Mr. MacDowell was with CS First Boston in the Dallas Investment Banking group where he gained corporate finance experience in initial public offerings, public equity and debt offerings, private debt placements, M&A, and corporate restructurings. While at First Boston, Mr. MacDowell was involved in financings that totaled in excess of $1.8 billion.

Mr. MacDowell graduated magna cum laude from Southern Methodist University with a B.S. in Mechanical Engineering.

Craig Moore joined American Capital in 2006 as a Managing Director in the Operations Department.  Craig's group works with selected American Capital portfolio companies to restructure their financial obligations and help them review strategic alternatives. Craig came to American Capital from Evercore Partners, where he was a Partner in their Restructuring Advisory Group for four years.  At Evercore, he helped companies and creditors restructure their obligations both inside and outside bankruptcy.  Before Evercore, Craig had been a Managing Director at JPMorgan Chase for 22 years in a variety of roles, including restructuring, loan product, real estate, and client management.  Prior to JPMorgan Chase, he was an International Economist at the Federal Reserve Bank of New York. 

Craig has a PhD and MA in economics from Syracuse University, and a BA from Kalamazoo College.

Walter Münnich joined European Capital in October 2007 as Managing Director and Head of the European Operations Group. He brings extensive entrepreneurial experience to all of European Capital’s business activities – including the sourcing and execution of investments, as well as directly advising its portfolio companies. Prior to European Capital he worked as an independent Management Consultant and Senior Advisor for a number of renowned institutional investors. In this role he acted as Member and Chairman of the advisory boards of different mid-market industrial firms as well as for an international private equity house. During this time he conducted two MBOs.

Mr. Münnich brings with him broad experience in the industrial sector. He started his career in 1975 as Assistant to the Management Board at Mannesmannpipe-Works AG and was subsequently promoted to Head of Production of oilfield turbular goods. From 1986 to 1996 he handled a range of responsibilities at A. Friedrich Flender AG, world market leader in mechanical power transmission, and ultimately became Chief Executive Officer. Between 1997 and 2000 he was Chief Executive Officer of elexis AG, his first MBO, which he floated in 1999.

Mr. Münnich holds a diploma in Engineering from the Technical University of Hanover.

Gregg Newmark joined American Capital in November 2006 as a Managing Director in the Chicago office. Mr. Newmark brings 21 years experience in the private equity business, investing in the consumer, retail, business and information services sectors. Mr. Newmark has served on over 25 boards including Golf Galaxy, Bright Horizons, Ultra Diamonds, Dots, OneSource Information Services and Roadshow International. Prior to joining American Capital, Mr. Newmark was a managing director of William Blair Capital Partners. In his 21 year career with WBCP, Mr. Newmark was active in all aspects of the development of a series of funds that collectively managed over $1 billion of investor capital. These funds invested in companies across stages of development in business and financial services, consumer, healthcare and technology. Before joining WBCP, Mr. Newmark started his career with Bain & Company.

Mr. Newmark received a B.S.E., summa cum laude, from Princeton University and a J.D./M.B.A. from Harvard Law School and Harvard Business School.

Gordon O'Brien joined American Capital in October 1998 as a Principal, was promoted to Managing Director in 2001 and became a member of the Investment Committee in 2002. From 1995 to 1998, Mr. O'Brien was Vice President at Pennington Partners & Company, a private equity firm with $90 million under management. There, Mr. O'Brien was responsible for structuring private equity investments, conducting due diligence, negotiating debt agreements and managing portfolio companies.

Prior to his tenure at Pennington Partners, Mr. O'Brien worked at Golder, Thoma, Cressey, Rauner, Inc., a private equity firm with $700 million under management and before that at Chemical Bank in Chicago. Before joining Chemical, Mr. O'Brien was co-owner of a door manufacturing company in Australia. Mr. O'Brien has participated in various transactions in the funeral home, food service, institutional pharmacy, logistics and cable and wire industries.

Mr. O'Brien holds a graduate degree in business from the University of Chicago and an undergraduate degree from the University of Pennsylvania, Wharton School of Business.

Mark Opel has rejoined American Capital as a Principal in our New York office. Mark manages American Capital’s marketing and business development, which includes centralized deal generation from intermediaries, private equity groups, lenders and other sources of transactions. He was formerly President and Chief Executive Officer of American Capital portfolio company Capital.com and has more than 15 years of financial and operating experience with middle market companies. He served as President at energy development company SunLight Power International and chief operating officer at energy services company SYCOM Corporation, where he managed the financing of over $100 million of independent energy projects.

In addition, he worked as a management consultant at Strategic Planning Associates (now Mercer Management Consulting) and, early in his career, as an investment banker at American Capital.

Mr. Opel is a graduate of Harvard College and Harvard Business School.

Mr. Pelletier is the Group Head of the CLO/CDO Team and is responsible for managing all loan and CDO investments on behalf of American Capital.  Mr. Pelletier has 18 years of investment experience.  Before joining American Capital in 2005, Mr. Pelletier was a senior portfolio manager and analyst for Flagship Capital Management, Inc. and covered the commercial, industrial and technology sectors. Flagship Capital was part of the asset management arm of Bank of America focused on managing approximately $3 billion in leveraged loans across seven CLO portfolios.  Mr. Pelletier was a founding member of Flagship Capital, which commenced operations during FY 2000.

Before joining Flagship Capital at its inception in 2000, Mr. Pelletier spent three years in leveraged finance with FleetBoston, where his primary responsibilities included sourcing and analyzing syndicated loans. He also participated in managing FleetBoston’s $2 billion CDO investment portfolio, which consisted of senior, mezzanine and equity tranches of approximately 40 different CDO managers. Before joining FleetBoston in 1997 as Vice President in Leveraged Finance, Mr. Pelletier spent three years as an Investment Analyst at GE Capital, two years as a senior analyst at BankBoston, and three years as Assistant Vice President at Heller Financial in the leveraged senior debt market, underwriting, structuring, and monitoring leveraged credits.

Mr. Pelletier holds BS and MBA degrees from Northeastern University, and is a Chartered Financial Analyst charterholder.

Steve Price joined American Capital in 2003 as a Principal in the Operations Team. Prior to joining American Capital, Steve was a Managing Partner at Dubin Clark and Company. Before joining Dubin Clark, Steve was the President and Chief Executive Officer of Alyn Corporation, Incorporated and President of Allied Automotive Aftermarket. Steve Joined Allied Signal (Honeywell) as Vice President Global Sales and Marketing for their worldwide automotive manufacturing businesses. Before joining Allied Signal, Steve was a General Manger at NIBCO Incorporated, a plumbing products manufacturer, and spent six years at Black and Decker Corporation as Vice President, Marketing for Kwikset Corporation and Director, Sales and Marketing for the Black and Decker Power Tool Group. He started his career at The Procter and Gamble Company with assignments in Brand Management.

Steve received his bachelor’s degree in Economics from Brown University.

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Managing Director Profile, Sponsor Finance Team

Adam Spence joined American Capital in June 2001 in the New York office. Prior to joining American Capital, Mr. Spence was with Lend Lease Real Estate Investments making equity investments in real estate development projects located in non-core areas. Prior to Lend Lease, Mr. Spence was with Berkshire Capital Corporation, a boutique investment bank specializing in merger and acquisition transactions involving investment management and securities firms.

Mr. Spence received an A.B. in History cum laude from Harvard College.

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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Managing Director Profile, Technology Group

Virginia M. Turezyn joined American Capital in April 2006 as Managing Director of the Technology Group and currently serves as the group's co-director at American Capital's Palo Alto office. Ms. Turezyn brings over 22 years of experience in technology investing in areas that include software and services, consumer Internet and digital media. She served as Managing Director at Constellation Ventures, an affiliate of Bear Stearns Asset Management, was a Co-founder and Managing Director of Infinity Capital, LLC and its predecessor company Information Technology Ventures and served as Vice President in the Venture Capital Group at Morgan Stanley & Co., where she established a west coast presence and venture capital practice. She most recently served on the boards of Avolent, K12, FathomOnline, Orchestria, Siperian, United Devices and Webify. Her past successes include: Aspect Telecommunications, Aurum Software, E.piphany, Exodus Communications, HomeClub, Nellcor, Relational Technology/Ingres and Webline Communications. Ms. Turezyn is actively involved with American Capital’s technology group investments in CreditCards.com, HomeAway and Moxy Media and currently serves on Moxy Media's Board of Directors.

Robert von Finckenstein joined European Capital in 2007 as Managing Director in European Capital's Frankfurt office. Prior to European Capital, Robert had been at Dresdner Anschutz Mezzinvest, where he was Managing Director and Co-Head of DAM Advisors Ltd. in London. At DAM Advisors he originated mezzanine and subordinated debt transactions for German Mittelstand companies totaling approximately € 300 million.

Prior to DAM Advisors, Robert was at Dresdner Kleinwort Benson's Leveraged Finance Team in New York, where he worked closely with numerous North American Private Equity sponsors on LBOs, acquisition financings and recapitalizations. He later continued with Dresdner Kleinwort's Acquisition Finance Group in Frankfurt where he structured and arranged notable transactions for both investment grade and non-investment grade borrowers, particularly in the technology sector.

Robert holds a Bachelor of Arts Honours (Economics) degree from Carleton University in Ottawa, Ontario.

Darin Winn joined American Capital in August 1998 as a Principal opening our Dallas office, was promoted to Managing Director in 2001, became a member of the Investment Committee in 2002 and was promoted to Regional Managing Director in 2005. Mr. Winn leads the Dallas office with a team of eleven investment professionals; that team is responsible for managing a portfolio of thirteen investments comprising approximately $285 million in assets. Mr. Winn is Chairman of American Capital portfolio company Network for Medical Communication & Research and serves on the board of directors of CIVCO Holdings, Chronic Care Solutions, FMI International, HMS Healthcare Trinity Hospice, Case Logic, and A.H. Harris.

Prior to joining American Capital, from 1995 to 1998 Mr. Winn was with Stratford Capital Partners, a $130 million mezzanine and equity fund controlled by Hicks, Muse, Tate & Furst. While with Stratford, Mr. Winn closed 17 mezzanine and equity transactions totaling more than $60 million. Prior to Stratford Capital, Mr. Winn was a member of GE Capital's Southwest Corporate Finance Group where he focused on transactions involving senior debt financing opportunities. While at GE, Mr. Winn was involved in financings which totaled in excess of $1.4 billion. Prior to GE, Mr. Winn was a member of Dean Witter Reynolds' Southwest Corporate Finance Group where he gained experience in mergers and acquisitions, leveraged buyouts, corporate restructurings, and public offerings and private placements of both debt and equity.

Mr. Winn holds a Bachelor of Business Administration in Finance from the University of Texas at Austin.

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Managing Director Profile, Special Situations Group

Myung Yi joined American Capital, Ltd. in February 2000 as an associate in the Bethesda, MD office, was promoted to Vice President in July, 2001, and became a Principal in the Operations Team in 2004. Mr. Yi serves on the boards of American Capital portfolio companies Paradigm Precision Holdings LLC, The Algoma Group, The New Piper Aircraft, Pan Am International Flight Academy and Warner Power.

He began his career as an audit associate in the Washington, D.C. office of Price Waterhouse focusing on financial institutions. After law school, he practiced tax law briefly at the firm of Caplin & Drysdale. He then joined the Bethesda, MD office of the Boston Consulting Group as a consultant. His focus was corporate development, valuation and strategic planning.

Mr. Yi received an J.D., cum laude, from the Georgetown University Law Center and a Bachelor of Science in Economics, magna cum laude, from the Wharton School of the University of Pennsylvania.

Principals

Kyle Bradford joined American Capital in March 2002 and is a Principal in the Dallas Buyout Group. He is responsible for originating, executing and managing investments in middle-market companies across a variety of industry sectors, including healthcare services, life sciences, and consumer products, among others. Mr. Bradford currently serves on the board of directors of American Capital portfolio companies Future Food and The Meadows and is a board observer of Scientific Protein Laboratories.

Prior to joining American Capital, Mr. Bradford worked in the Technology Investment Banking Division of Salomon Smith Barney in New York. At Salomon, Mr. Bradford specialized in equity and debt underwriting and merger and acquisition advisory assignments for companies in various technology sectors. Before Salomon, he worked in the Syndicated Finance Group of Banc of America Securities in New York.

Mr. Bradford received a Masters in Professional Accounting and a Bachelors of Business Administration from the University of Texas at Austin.

Chris joined American Capital in March 2007 from Prudential Capital Group, the private placement investing area of Prudential Financial, where he was Senior Vice President. At Prudential, he ran a team that originated, underwrote and managed a portfolio of debt investments ranging from senior debt to mezzanine and equity investments. During the last five years of his nine year tenure with Prudential, Chris managed sponsor and company relationships in the Northeast with a focus on making investments in middle market manufacturing, distribution and service related businesses.

He received a B.A. in Economics and an M.B.A. from Duke University and is a Chartered Financial Analyst.

Giles Cheek joined European Capital in 2005 as a Director in the UK buyout group. Giles was formerly a Director at Duke Street Capital focusing on UK mid market buyouts where his responsibilities included origination, execution transformation and realization of private equity investments. Notable transactions included the creation of the Focus Wickes Group through the acquisitions of the Do It All, Great Mills and Wickes DIY chains, Madison Filtration and Megabowl in each case representing Duke Street Capital on the Board.

Prior to Duke Street Giles worked in the Corporate Finance practice of PriceWaterhouseCoopers where as a member of the Buyout Group he advised on a number of private equity transactions. His period in corporate finance also included an 18 month secondment to Nat West Markets Acquisition Finance where he completed a number of leveraged buyout transactions. Giles is a Chartered Accountant qualifying with PriceWaterhouseCoopers in 1993.

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.

John Drennan joined the Dallas office of American Capital in November 1999. During his career, Mr. Drennan has invested and managed $1.0 billion of invested capital in 17 companies. Prior to joining American Capital, Mr. Drennan was an Associate with the Cambridge Companies, a diversified private investment firm. He previously served as an Associate with Berkshire Partners, a mergers and acquisitions advisory firm focused on the telecommunications sector. John started his career as a Certified Public Accountant in Ernst & Young's telecommunications audit practice. His responsibilities included executing both financial audits and accounting due diligence projects.

He currently serves on the board of directors or is a board observer of five American Capital portfolio companies.

Mr. Drennan received his MBA from Southern Methodist University and his BBA in Accounting from the University of Oklahoma.

Bill Dyer joined American Capital, Ltd. in 2002 as an associate in the Philadelphia office. Prior to joining American Capital, Mr. Dyer worked at FOB, Inc., as a director of business development. Before FOB he worked at Bainbridge, Inc., a strategy consulting firm specializing in the medical industry. A co-founder and director of Bainbridge, Mr. Dyer directed research and due diligence for a number of transactions in the healthcare, pharmaceuticals and medical products industries.

Mr. Dyer received a Bachelor of Science degree from the Duke University and an MBA in Finance with Honors from the University of Chicago.

Sean Eagle joined American Capital, Ltd. 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.

Mark Fikse joined American Capital, Ltd. 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.

Matthew Gordon Clark joined European Capital in 2005 as a Director in the London office. He joins the firm from Mezzanine Management U.K., where he was a Director focusing on U.K. and European investments. Deal responsibilities included origination and structuring of new investments, and management and exit of portfolio companies. He has served as a non-executive director on the Boards of a number of mezzanine and equity portfolio companies.

Prior to joining Mezzanine Management in 2000, Matthew worked for the acquisition finance team at NM Rothschild & Sons, having previously completed a 6 year commission in the British Army.

Pankaj Gupta joined American Capital in August 2006 as a Principal in our New York office. Prior to joining American Capital, Mr. Gupta spent six years at Audax Group, a Boston and New York-based private equity and mezzanine firm with $2 billion under management. As a senior Vice President with Audax, Mr. Gupta was responsible for the origination, structuring, execution and monitoring of mezzanine investments. Prior to Audax, Mr. Gupta was an Associate in the private equity group of Whitney & Co. Prior to Whitney, he was an analyst in the high yield and merchant banking group of CIBC World Markets.

Mr. Gupta received a B.A. in economics from Dartmouth College. He currently serves as a Director on the board of American Capital portfolio companies NPC, Inc. and SMG.

Etienne Haubold joined European Capital in May of 2006 as a Vice President. Prior to joining European Capital, Mr. Haubold was a Vice President in the Leverage Finance team of Société Générale, one of the oldest banks in France. At Société Générale, Mr. Haubold was responsible for arranging senior and mezzanine transactions. Previously, Mr. Haubold worked at the Boston Consulting Group as a Consultant.

Mr. Haubold holds a Master of Science from École Nationale des Ponts et Chaussées and an MBA from HEC.

Kenneth E. Jones joined American Capital in November 2000. He leads the Philadelphia office with a team of seven investment professionals; that team is responsible for managing a portfolio of ten investments comprising $225 million in assets. Prior to joining American Capital, he was a General Partners in two private equity funds at Meridian Venture Partners. Mr. Jones has also been a Managing Director at Berwind Financial, a Philadelphia-based middle market investment bank, and led that firm's efforts in providing advice to private middle market companies in merger and acquisition and private placement transactions.

He currently serves as a Director on the boards of Penguin Industries, Inc., Zeks Compressed Air Solutions, Load Rite Trailers, Inc., Escort, Inc. and Hartstrings LLC.

Mr. Jones has a B.A. in Economics from East Stroudsburg State College, an M.B.A. from Drexel University and is a Chartered Financial Analyst.

Douglas Kelley joined American Capital’s Dallas office in 2004 and is a Principal in the Sponsor Finance Group. He is responsible for originating, executing, and managing debt and minority equity investments in partnership with other financial sponsors. Mr. Kelley has made debt and equity investments in private companies within a range of industries including food, healthcare, technology, and energy services. Mr. Kelley serves on the board of directors or as board observer of several American Capital investments, including Corrpro, Hospitality Mints, CreditCards.com and Direct Mail Holding. He previously served on the board of directors of BPWest.

Prior to joining American Capital, Mr. Kelley was an Associate at J.P. Morgan in its Los Angeles-based investment banking practice; was an Associate and founding member of the Los Angeles office of The Beacon Group, a New York-based merchant banking firm which managed over $2 billion of private equity capital and provided strategic advisory services to both middle-market and Fortune 500 clients; and was a Financial Analyst in the New York-based leveraged finance group of Credit Suisse First Boston.

Mr. Kelley holds M.B.A. and B.B.A. degrees from the McCombs School at The University of Texas at Austin.

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.

James Lau joined American Capital in 2005 as a Principal and inaugural member of the CDO/CLO team. His 15+ years of experience in financial services includes leveraged finance, middle market banking, real estate acquisitions and alternative investments. At American Capital, his focus is on evaluating and executing CDO investments for the firm, as well as investments for the firm’s actively managed CLO fund.

Previously, James was a Director at Banc of America Securities, LLC, where he managed a portfolio of principal investments in externally managed CDO funds. In prior years with various institutions, James managed portfolios of leveraged loans and private equity co-investments focused on LBO transactions with select financial sponsors, as well as traditional middle market bank loans.

James earned his bachelor of science degree in mechanical engineering from Northeastern University, and his MBA from the Johnson School at Cornell University.

Didier Lefèvre joined European Capital in October 2007 as Principal in the European Operations Group in the Paris office. Before joining European Capital, Didier has managed major international companies in the consumer goods sector for 15 years. His positions included Chairman of Kronenbourg, a brewery; Managing Director of Yoplait, a manufacturer and distributor of dairy products; Chairman of Saupiquet, a producer of canned fish; and Chairman of Peaudouce, a manufacturer of diapers.

Didier started his career at Danone in the Sales and Marketing Department.

Didier holds a degree from HEC Business School.

Stéphane Legrand joined European Capital in July 2005 as a Vice-President in the Paris office. Prior to joining European Capital, he spent over six years at Close Brothers (Harris Williams' affiliate in Europe), a middle-market M&A advisory firm, in the Paris office. As a Director at Close Brothers, he was responsible for origination, execution and realization of Mid-Cap transactions. He completed more than 15 assignments for corporates and private equity firms, especially in the consumer goods segment as well as in the light industry and manufacturing sector.

Mr. Legrand received a Master's degree in Finance from Sciences-Po. He also holds a MSG degree from the University of Paris-Dauphine.

Stéphane serves on the Board of Directors for Eau Ecarlate, Poliris and Alma Consulting Group.

Mr. Leiman joined American Capital in March 2002 and is a Principal in the Chicago office. Prior to joining American Capital, Mr. Leiman worked in the mergers and acquisitions group at Piper Jaffray. While at Piper, he advised middle market companies in M&A, leveraged buyouts, private placements, and public equity offerings. Mr. Leiman also worked in the corporate finance group at PricewaterhouseCoopers Securities.

Mr. Leiman received his MBA from the Kellogg School of Management at Northwestern University and his BBA from the University of Michigan.

Julian joined European Capital in 2006 as an Investment Director within the UK Buyout Team. He was formerly a Director with CSFB Private Equity, which he joined in 2000, where his responsibilities included origination, execution, monitoring and realisation of private equity investments. Notable transactions at CSFB Private Equity include the acquisition and operational restructuring of Grohe AG, the acquisition and subsequent flotation on the Milan stock exchange of Safilo SpA and acquisition and disposal of Gala Group Ltd. Julian represented CSFB Private Equity on the boards of various portfolio companies including Grohe AG, Safilo SpA and Vistorm Ltd.

Prior to CSFB Private Equity, Julian was with PwC Transaction Services including a nine month secondment to Bridgepoint Capital in London. Julian is a Chartered Accountant having qualified with PwC in 1998.

David McReynolds joined American Capital in 2006 as a Vice President in the Special Situations Group in the Los Angeles office.

Mr. McReynolds has over 10 years of experience in originating, evaluating, structuring and investing in financial transactions.  Over the course of his career, he has participated in distressed debt and private equity investing, restructuring and distressed M&A advisory, and leveraged lending transactions.  Prior to joining American Capital, Mr. McReynolds was a founding partner of Signature Capital Partners, LLC and a Director of Acquisitions for Republic Financial Corporation, both distressed debt and special situations investment firms.

Mr. McReynolds is a frequent speaker at industry leading conferences on the topics of special situations investing and raising capital for distressed companies.  He is also actively involved with professional organizations within the industry and is a Board Member of the Los Angeles Turnaround Management Association.

Mr. McReynolds received his M.B.A. from the University of Chicago Graduate School of Business and B.S. from the University of California at Santa Barbara.

Mike Michienzi joined American Capital in December 2005. Prior to joining ACAS, Mike held the position of President Household Products Division of Applica Inc, a $600MM manufacturer of Black and Decker appliances, Belson professional personal care products and Littermaid pet products. Mike was responsible for sales, marketing, new product development, supply chain operations as well as their Mexican and Chinese based manufacturing plants. His primary responsibilities while in this role focused on the management of the consumer products business while restructuring the company from a manufacturing base to a third party sourcing operation. This restructuring included the sale of their manufacturing plants in China and Mexico. Mike was associated with the Black and Decker brand since 1987 and held various positions in both the appliance and power tool divisions. Prior to joining Black and Decker, he worked as a marketing manager for the AC Nielsen Division of Dunn and Bradstreet in market research, developing consultative packages for consumer products companies in North America. Mike started his career in sales and marketing with Kraft General Foods in 1978 where he worked for both the Maxwell House Coffee and Oscar Mayer divisions.

Mike received his bachelor’s degree in Education from the State University College at Buffalo. He currently resides in Parkland, Florida.