American Capital Invests in the One Stop Buyout® of Service Experts

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 facility.

"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 Experts represents a solid opportunity 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 http://www.americancapital.com/pages/our_portfolio/our_portfolio.aspx.     

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 www.AmericanCapital.com.

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 investments.

Contact:
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

(301) 951-6122

SOURCE American Capital, Ltd.

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