American Capital Commits $89 Million In The One Stop Buyout® Of ASAP Industries

     American Capital Commits $89 Million In The One Stop Buyout® Of ASAP

PR Newswire

BETHESDA, Md., Feb. 8, 2013

BETHESDA, Md., Feb. 8, 2013 /PRNewswire/ -- American Capital, Ltd. (Nasdaq:
ACAS) ("American Capital") announced today that in December 2012, it committed
$89 million in the One Stop Buyout® of ASAP Industries, LLC ("ASAP" or the
"Company") in a transaction led by Kevin W. Kuykendall, former Managing
Director of the American Capital Energy Group, and Miles Arnone, an American
Capital Managing Director, under the leadership of Darin Winn, Senior Vice
President and Senior Managing Director, American Capital. ASAP, a leading
independent manufacturer and refurbisher of high-pressure flow control
products for the global oil and gas industry, expands the American Capital
Energy and Infrastructure Group's portfolio of domestic mid-market
energy-related companies. American Capital's investment took the form of
senior debt, subordinated debt and equity. 

Based in Houma, Louisiana, ASAP manufactures a wide variety of flow control
products for companies ranging from small local operations to major oilfield
services companies and original equipment manufacturers. The Company's
products are used in numerous applications including onshore and offshore
projects, crude oil and natural gas wells and drilling, completion and
production applications.

"With its broad product lineup, leading position in the Gulf Coast region,
strong reputation, well-established customer relationships and significant
organic growth opportunities, ASAP is an excellent fit for the American
Capital Energy and Infrastructure Group," said Mr.Winn. "ASAP is one of the
largest manufacturers of high-pressure flow control components in the Gulf
Coast region and a respected partner for original equipment manufacturers,
oilfield service companies, and equipment rental companies throughout the
United States. The Company is also one of the largest API‑certified
independent manufacturers of oil and gas equipment."

"Since its start in 2001, ASAP has demonstrated strong financial performance,
achieving consistent year-over-year revenue and EBITDA growth and has shown a
unique resiliency to industry downturns," said Mr.Arnone. "Demand for the
Company's flow control products is driven by increased drilling and completion
activity as well as increasing well complexity. We expect these industry
drivers to remain favorable, providing ASAP with a clear and exciting growth

The American Capital Energy and Infrastructure Group is headed by Paul
Hanrahan, who joined American Capital in 2012 after serving as the President
and CEO of The AES Corporation ("AES"), a Fortune 150 global power company,
from 2002 through 2011. Since its formation in 2005, the American Capital
Energy and Infrastructure Group has invested over $620 million in domestic
mid-market energy-related companies. For more information about the American
Capital Energy and Infrastructure Group's domestic energy-related investing,
visit In connection with Mr. Hanrahan joining
American Capital, it announced an initiative to make investments in global
energy infrastructure assets, including power generation facilities, power
distribution and transmission networks, energy transportation assets and fuel
production opportunities and has committed $200million to such investments.

American Capital and its affiliated funds have invested approximately $31
billion in over 540 portfolio companies both directly and in support of
leading financial partners in change of control transactions. 

American Capital 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 and structured products.
American Capital manages $18.6 billion of assets, including assets on its
balance sheet and fee earning assets under management by affiliated managers,
with $118 billion of total assets under management (including levered
assets). Through an affiliate, American Capital manages publicly traded
American Capital Agency Corp. (Nasdaq: AGNC) with approximately $10 billion
market capitalization and American Capital Mortgage Investment Corp. (Nasdaq:
MTGE) with approximately $850 million market capitalization. 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 $500
million. For further information, please refer to

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


Darin Winn, Senior Vice President and Senior Managing Director, American
Two Bethesda Metro Center
14^th Floor
Bethesda MD 20814
(301) 951-6122
(301) 654-6714 Fax

SOURCE American Capital, Ltd.

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