Nov 23 2005
American Capital Strategies Ltd. has announced it has invested in the recapitalization of Value Plastics Inc. American Capital's investment takes the form of senior term loans, senior and junior subordinated debt and common equity. American Capital is also providing a revolving credit facility. Value Plastics management is investing in the equity and will continue to manage the Company. Post close, American Capital owns a controlling interest in Value Plastics with the Company's management maintaining a significant ownership interest.
"American Capital's one-stop financing in the recapitalization of Value Plastics reflects our ability to fund senior debt, subordinated debt and equity in support of a dedicated and experienced management team's growth ambitions," said American Capital Chief Operating Officer Ira Wagner. "As our Value Plastics investment demonstrates, American Capital continues to locate excellent middle market companies with leading positions in growing niche markets and consistently strong financial performance. This is our 17th investment in the healthcare industry and we look forward to building a portfolio in the growing medical equipment sector within the healthcare industry."
American Capital has invested over $3.2 billion in the last twelve months, over $2.5 billion year to date and $400 million quarter to date. These amounts do not include American Capital's unfunded equity commitment to its affiliate European Capital. For more information about American Capital's portfolio, go to http://www.ACAS.com/our_portfolio/our_portfolio.cfm.
"Value Plastics is a leading supplier of fluid management components for healthcare OEMs, carrying an extensive, differentiated, proprietary line of products in the plastic connector market," said American Capital Managing Director Frank Do. "The Company's innovative product design and adherence to stringent U.S. and international quality specifications, as well as its strong brand name and superior engineering capabilities, have positioned Value Plastics as a niche leader in the medical device component industry. These competitive advantages, coupled with the Company's diverse and loyal base of global customers and attractive growth plans, make this an exciting investment opportunity."
http://www.americancapital.com/