Escort Inc.
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American Capital Invests $42 Million in Niche Manufacturer of Automotive Consumer Electronic Products
Bethesda, MD - July 25, 2003 - American Capital Strategies Ltd. (Nasdaq:ACAS) announced today it has invested $42 million in the recapitalization of Escort Inc., a leading niche designer, manufacturer and distributor of automotive consumer electronic products. American Capital's investment takes the form of a last out senior term loan, junior and senior subordinated debt with warrants and redeemable preferred equity. GE Capital Capital Funding, a unit of GE Commercial Finance, provided a senior term loan and Huntington National Bank provided a revolving credit facility. Escort's management and employees are also investing in equity. [more...] |
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