BETHESDA, Md., Dec. 3, 2014 /PRNewswire/ -- American
Capital, Ltd. (Nasdaq: ACAS) ("American Capital") announced today
that it has invested $31.5 million to
support the acquisition of Teasdale Foods, Inc. ("Teasdale") by
affiliates of Snow Phipps Group, LLC. Teasdale is a leading
provider of private label and branded bean and hominy products to
the retail, food service and wholesale channels. American
Capital's investment takes the form of a second lien term loan.
"Teasdale is a recognized industry leader and the largest
provider of both conventional store brand and organic store brand
beans in the U.S., serving a large diversified customer base
throughout the retail, foodservice and industrial channels," said
Ryan Brauns, American Capital Managing Director and Head of Sponsor
Finance. "This is our first time supporting a new Snow Phipps
platform investment and we're delighted to partner with them in
this business. Our Sponsor Finance Group continues to search
for new opportunities to build relationships with private equity
sponsors and support their new buyouts, refinancings, add-on
acquisitions, dividend recapitalizations and growth
opportunities."
Sundip Murthy, who oversees
consumer investing at Snow Phipps, stated: "We were impressed with
the responsiveness and dedication of American Capital's Sponsor
Finance Group. They proved to be a reliable financing partner
and we hope to collaborate on future investment
opportunities."
American Capital and its affiliated funds have invested
approximately $12 billion in over 270
portfolio companies in support of leading private equity firms'
company buyouts, refinancings, add-on acquisitions, dividend
recapitalizations and growth opportunities. For more
information about American Capital's portfolio, go to
www.americancapital.com/our-portfolio.
ABOUT AMERICAN CAPITAL
American Capital, Ltd. (Nasdaq: ACAS) is a publicly traded
private equity firm and global asset manager. American
Capital, both directly and through its asset management business,
originates, underwrites and manages investments in middle market
private equity, leveraged finance, real estate, energy &
infrastructure and structured products. American Capital
manages $21 billion of assets,
including assets on its balance sheet and fee earning assets under
management by affiliated managers, with $80
billion of total assets under management (including levered
assets). Through an affiliate, American Capital manages
publicly traded American Capital Agency Corp. (Nasdaq: AGNC),
American Capital Mortgage Investment Corp. (Nasdaq: MTGE) and
American Capital Senior Floating, Ltd. (Nasdaq: ACSF) with
approximately $11 billion of total
net book value. From its eight offices in the U.S. and
Europe, American Capital and its
affiliate, European Capital, will consider investment opportunities
from $10 million to $750
million. For further information, please refer to
www.AmericanCapital.com.
ABOUT SNOW PHIPPS GROUP
Snow Phipps is a private equity firm focused on middle-market
control investments. With $1.5
billion of assets currently under management, Snow Phipps
targets platform companies with enterprise values ranging from
$100 million to $500 million. The
firm utilizes an operating partner model to invest across select
industries and seek value creation through an operationally focused
strategy. To learn more about Snow Phipps, visit
www.snowphipps.com.
This press release contains forward-looking statements. The
statements regarding expected results of American Capital are
subject to various factors and uncertainties, including the
uncertainties associated with the timing of transaction closings,
changes in interest rates, availability of transactions, changes in
regional, national or international economic conditions, or changes
in the conditions of the industries in which American Capital has
made investments.
Contact: (212) 213-2009
Ryan Brauns, Managing Director and Head of Sponsor Finance
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SOURCE American Capital, Ltd.