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American Capital exited its investment in Piper Aircraft in the second quarter of 2009.

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American Capital Realizes $31 Million Gain From Sale of Piper Aircraft

Bethesda, MD – May 5, 2009 – American Capital Ltd. (Nasdaq: ACAS) announced that on May 1 it completed the sale of its portfolio company Piper Aircraft Inc. (“Piper”) to Imprimis.  American Capital realized a gain of $31 million from the transaction, subject to post closing adjustments.  American Capital’s total inception to date realized gains on its Piper investments were $48 million and its compounded annual rate of return, including interest and fees earned over the life of its investment was 19%.  Including investments in Piper by American Capital’s affiliated funds under management, the inception to date realized gains were $51 million and the compounded annual rate of return was 18%. [more...]

American Capital Completes Buyout and Recapitalization of Piper Aircraft

Bethesda, MD – July 21, 2003 – American Capital Strategies Ltd. (Nasdaq:ACAS) announced today it has completed the buyout and recapitalization of its portfolio company, Piper Aircraft Inc. ("Piper"), by purchasing $57 million of Piper's senior debt for $34 million and providing a revolving loan facility. In addition, American Capital exchanged $22 million of the purchased senior debt for common equity in Piper. American Capital's original $20 million investment in subordinated debt is now a senior facility. American Capital now owns 94% of Piper's voting equity. [more...]

American Capital Invests $20 Million in Piper Aircraft

BETHESDA, Md., May 28 /PRNewswire/ – American Capital Strategies (Nasdaq: ACAS) announced today that it has invested $20 million in Piper Aircraft, Inc., in the form of subordinated debt with warrants. Piper designs, develops and manufactures general aviation aircraft for domestic and international markets. [more...]