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Warner Power, LLC
American Capital Invests $6 Million in Portfolio Company Acquisition
Bethesda, MD – June 4, 2002 – American Capital Strategies Ltd. (Nasdaq:ACAS) announced today that it has invested $6 million in its portfolio company Warner Power LLC to finance the acquisition of Daykin Electric Corp. Warner is a producer of highly customized industrial power conversion supplies and electronic ballasts. Daykin designs, manufactures and markets transformers, transformer disconnects and power supplies used primarily in industrial control applications for auto industry machine tools. American Capital's investment takes the form of a senior term loan and a junior subordinated note with warrants. [more...]
American Capital Invests $13.6 Million in Warner Power Buyout
Bethesda, MD — American Capital Strategies, Ltd. (NASDAQ: ACAS), a buyout and middle market finance company, announced today that it has completed the buyout of Warner Power, LLC, a New Hampshire based company. To complete the purchase and capitalize the new company, American Capital invested $13.6 million for a majority ownership position, in the form of senior debt and subordinated debt with warrants. Warner Power designs, engineers and manufactures highly customized industrial power conversion supplies and electronic ballasts. American Capital teamed up with an equity group that includes Warner Power's senior management as well as a strategic partner, Power Gems Limited, a leading electronic ballast manufacturing company based in the UK. [more...]
