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American Capital exited its investment in Cornell Companies, Inc. in December of 2001.
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American Capital Realizes Two Gains; Earns 18% and 22% Returns
Bethesda, MD - December 18, 2001 - American Capital Strategies Ltd. (Nasdaq:ACAS) announced today that it has exited its investment in BIW Connector Systems LLC, earning an 18% compounded annual return, and has exited its investment in Cornell Companies Inc., earning a 22% compounded annual return. BIW is a manufacturer of specialized electrical connectors primarily for the oil field and aircraft industries. American Capital invested in BIW in December 1997 with a $3.9 million senior note and a $7 million senior subordinated note with warrants. BIW has been purchased by ITT Industries. [more...]
American Capital Invests $30 Million in Cornell Companies
Bethesda, MD - August 1, 2000 - American Capital Strategies, Ltd. announced today it has invested $30,000,000 in the form of seven-year senior subordinated debt with warrants to finance the continued growth of Cornell Companies, Inc. (NYSE: CRN). Cornell is one of the leading private sector providers of correctional, juvenile detention, pre-release and treatment services in the United States. The Teachers Insurance and Annuity Association-College Retirement Equities Fund (TIAA-CREF) is investing $10 million in senior subordinated debt with warrants alongside American Capital. TIAA-CREF is the world's largest retirement system with over $290 billion in assets under management. [more...] |
