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American Capital exited its investment in Tube City in the third quarter of 2003.

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American Capital Realizes $4 MM Gain on Investment in Tube City

Bethesda, MD – September 25, 2003 – American Capital Strategies Ltd. (Nasdaq:ACAS) announced today that it has successfully exited its subordinated debt and warrant investment in Tube City Inc., a slag and scrap metal processing, brokering and mill services company. Tube City has been recapitalized by Blue Point Capital Partners and management, completely prepaying American Capital's investment. American Capital realized a 25% compounded annual rate of return, including the payment of all interest and fees received over the life of the investments. Sale proceeds recognized by American Capital exceeded the second quarter 2003 valuation of the investments by $1 million. [more...]

American Capital Provides Additional Growth Financing to Tube City

BETHESDA, Md. – Aug. 18 /PRNewswire/ – American Capital (Nasdaq: ACAS), today announced the purchase of $8.4 million in subordinated notes issued by Tube City, Inc. This financing coupled with the $9.7 million investment in a subsidiary of Tube City made by American Capital on June 29 brings American Capital's total investment in Tube City to $18.1 million. Heller Financial provided a $93 million senior credit facility to Tube City concurrent with American Capital's investment. [more...]

American Capital Makes $16.5 Million of Investments and Commitments to Tube City

BETHESDA, Md. – June 29 /PRNewswire/ – American Capital Strategies, Ltd. (Nasdaq: ACAS) today announced the purchase of $9.7 million in senior notes by Tube City Olympic of Ohio, Inc., a wholly-owned subsidiary of Tube City, Inc., in conjunction with a commitment to purchase an additional $6.8 million of subordinated notes issued by Tube City. The purchase and commitment total $16.5 million. [more...]