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| American Capital Strategies Earnings Conference Call (Q1 2008) Wed, May 7, 2008, 11:00 am Eastern
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| About American Capital Strategies (NasdaqGS:ACAS) | |||
| American Capital Strategies, Ltd. is a principal investment firm specializing in management and employee private equity buyouts, acquisitions, recapitalizations, mergers and acquisition, add-on acquisitions, securitizations, special situations, growth capital investments in middle market companies, early stage in mature private and public companies, corporate divestitures, acquisitions of portfolio companies of private equity firms, acquisitions of family-owned or closely held businesses, change of control, or the exit of minority shareholders, going private transactions, and ownership transitions. The Special Situations Group invests in troubled and distressed situations including operational turnarounds, auctions, corporate and orphan carve-outs, portfolio add-ons, complex management buyouts and provides financings for DIP, exit, mezzanine for sponsored buyouts, second lien refinance, and direct lending to distressed companies. The Second Lien Group offers secured and unsecured junior capital investments to support an array of financing needs across a variety of industries primarily, focusing on syndicated junior capital opportunities sourced through the loan sales desks of the market’s growing junior capital arranger community. It prefers to invest in manufacturing, services, and distribution companies. The firm also makes investments in companies that provide services or products to federal, state, or local governments, focusing on information technology for custom information technology solutions, technology and software enabling headcount reduction, technology and software enabling cost reductions in conducting transactions with or within government in human resources / benefits administration, outsourcing, transaction processing, engineering and construction, and logistics. Within Sponsor Finance Group, it invests in business services, consumer products and services, manufacturing, industrial, distribution, healthcare, and food sectors. For the energy production sector, the firm invests in lower risk oil and gas exploration, production and development including gas gathering systems and oil sands mining; natural gas liquids; coal mining and coal-fired generation; uranium mining and nuclear-fired generation; wind-powered generation; and solar-powered generation. In the energy transmission sector, it invests in oil and gas pipelines; LNG tankers and re-gasification facilities; and power transmission. In the energy distribution sector, the firm targets propane distribution; gas distribution; and electricity distribution. In the energy services sector, the firm invests in oil and gas services and utility services. Within technology investments, it invests in digital media and entertainment; internet and consumer related; communications, mobile and wireless; security and data center infrastructure; software and services; semiconductor; and other innovative technologies. The firm also invests in the financial services sector including commercial finance, leasing companies, consumer finance, real estate lenders, other specialty originators, insurance companies and asset managers. It typically invests between $5 million and $800 million per company in North America and between €5 million ($7.87 million) and €500 million ($787.12 million) per company in Europe in companies with revenues between $10 million and $750 million, enterprise values between $20 million and $500 million, and a minimum EBITDA of $4 million. Within Special Situations Group, the firm invests between $20 million and $800 million per transaction and for The Second Lien Group, it makes investments ranging between $10 million and $1 billion in mid-to-large cap transactions with EBITDA between $10 million and $500 million. Within Sponsor Finance Group, the firm makes investments between $10 million and $800 million per transaction (will consider smaller investments for portfolio company add-on acquisitions) with EBITDA of at least $5 million. For buyouts, it invests in companies with enterprise value upto $1.6 billion. The firm structures its investments through senior, senior secured, and subordinate debt; “Stretch" or "Term B" senior debt; distressed and mezzanine debt; and preferred and common equity. It seeks to acquire minority ownership position of up to 49 percent. The firm does not invest in high-risk oil and gas exploration; project finance with no expectation of near-term cash flows; and early-stage alternative energy and does not offer direct stock purchase. American Capital Strategies, Ltd. was founded by Mr. Malon Wilkus in 1986 and is based in Bethesda, Maryland, with additional offices in United States. | |||
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