OUR PORTFOLIO

American Capital exited its investment in Axygen BioScience in the third quarter of 2009.

Visit Axygen Inc. web site

American Capital Receives $182 Million in Proceeds From Sale of Axygen BioScience

Bethesda, MD – September 16, 2009 –  American Capital Ltd. (Nasdaq: ACAS) announced today that on September 15, it completed the sale of its portfolio company Axygen BioScience Inc., including its subsidiaries Axygen Inc. and Sorenson BioScience Inc., to Corning Incorporated for approximately $400 million.  The total inception to date gain and income, including dividend and fee income, from the equity invested by American Capital’s affiliated funds under management was $102 million, representing a 25% compounded annual rate of return.  American Capital received $182 million in proceeds and realized a gain of $35 million from the transaction, subject to post-closing adjustments.  American Capital’s total inception to date realized gains on this investment were $36 million and its compounded annual rate of return, including interest and fees earned over the life of its investment was 22%.  Including investments in Axygen BioScience by American Capital’s affiliated funds under management, the inception to date realized gains were $61 million and the compounded annual rate of return was 22%.  The proceeds received by American Capital were less than the second quarter 2009 valuation of the investment by $1 million, or less than 1%.  [more...]

American Capital Invests in One Stop Buyout™ of Axygen

Bethesda, MD – September 18, 2006 – American Capital Strategies Ltd. (Nasdaq: ACAS) announced today it has invested in the One Stop Buyout™ of Axygen Inc., a leading manufacturer and distributor of high quality life sciences plastic consumables, liquid handling products and bench-top laboratory equipment. American Capital's investment takes the form of a senior term loan, senior and junior subordinated debt and equity. American Capital is also providing a revolving credit facility.[more...]