American Capital Invests in the One Stop Buyout® of Service Experts
BETHESDA, Md., March 25, 2013
BETHESDA, Md., March 25, 2013 /PRNewswire/ --American Capital, Ltd. (Nasdaq:
ACAS) ("American Capital") announced today that its Special Situations Group
has led the American Capital One Stop Buyout® of Service Experts, LLC, a
leading provider of sales, installation, maintenance and repair of HVAC
systems for the residential and light commercial markets. American Capital's
investment took the form of preferred and common equity and a revolving credit
"The American Capital Special Situations Group's experience in identifying
value-oriented investment opportunities and arranging appropriate one-stop
financing enabled us to complete successfully the buyout of Service Experts,
providing the company with new capital to solidify further its leading market
position," said Gordon O'Brien, President, Specialty Finance and Operations.
"Our Operations Team will support our Special Situations Group in providing
Service Experts with enhanced operational and marketing skills, lean
management implementation and comprehensive business planning expertise."
"The investment in Service Expertsrepresents a solidopportunity to partner
with an industry veteran to strengthen a company with a large installed
infrastructure ready for growth," said Myung Yi, American Capital Managing
Director, Special Situations Group. "We have assembled a highly talented
management team with tremendous industry expertise that will be focused on
driving value creation."
Headquartered in Richardson, TX, Service Experts owns and operates 108 branch
locations in the United States and Canada with approximately $385 million in
annual sales. Service Experts offers complete HVAC services, including
inspections, maintenance, sales and equipment installation of heating and air
conditioning and cooling systems. In addition, the company offers a full line
of indoor air quality solutions and energy-saving green solutions.
"American Capital's complete financing package and operational support make
them an ideal owner for Service Experts," said Scott J. Boxer, newly appointed
President and CEO of Service Experts. "We look forward to a strong
relationship with American Capital as we look to continue to service and grow
our large national customer base, expand our product offering, and grow
revenue both organically and through add-on acquisitions."
Mr. Boxer is an internationally recognized leader in the HVAC industry with a
three-decade track record of successfully leading businesses through
transformations and growth initiatives. After 40 years in the industry, Mr.
Boxer retired from Lennox International, Inc. in 2010, where he had spent a
decade-long tenure in various executive positions, including President and
Chief Operating Officer of Service Experts from 2003 to 2010.
American Capital and its affiliated funds have invested approximately $31
billion in over 550 portfolio companies both directly and in support of
leading financial partners in change of control transactions. For more
information about American Capital's portfolio, go to
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 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 $117 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 a $13
billion market capitalization and American Capital Mortgage Investment Corp.
(Nasdaq: MTGE) with approximately a $1.5 billion 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
$750 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
Gordon O'Brien, President, Specialty Finance and Operations
Myung Yi, Managing Director, Special Situations Group
Anuj Khanna, Vice President, Special Situations Group
Yaniv Zief, Vice President, Special Situations Group
SOURCE American Capital, Ltd.
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