Bethesda, MD -- American Capital Strategies, Ltd. (Nasdaq:ACAS) today announced that Caswell-Massey, one of its portfolio companies and one of the oldest companies in America, has launched a new e-commerce website. Earlier this year, American Capital provided financing in the form of senior and subordinated notes with detachable warrants. Caswell-Massey used a portion of the proceeds from the financing to pursue its e-commerce initiative.
Caswell-Massey, established before the Revolutionary War, produces and sells a full line of soap, fragrance and personal care toiletries. The site expands Caswell-Massey's existing roster of retail distribution channels for its high-quality products, which include retail stores and a variety of direct marketing efforts.
Caswell-Massey is an example of American Capital's strategy of assisting companies with superior management teams and strong retail product lines to develop and implement growth strategies in today's dynamic e-commerce marketplace. American Capital has contributed to the launch of the Caswell-Massey site and will participate in its continued development. The Caswell-Massey site allows the customer access to secure, online purchasing, while maintaining a look and feel that reflects the Company's distinguished history.
Caswell-Massey's Chief Executive Officer, Anne Robinson, has implemented a multi-faceted growth strategy which includes this e-commerce initiative. "American Capital's flexible financing permits Caswell-Massey to take advantage of the vast potential offered by the Internet. We are pleased to offer another avenue for our current and future customers to purchase Caswell-Massey's quality products," commented Ms. Robinson.
Adam Blumenthal, President and Chief Operating Officer of American Capital, said, "We are pleased about Caswell-Massey's entry into the e-commerce retail market and believe the move represents an exciting avenue for the Company's growth. We are enthusiastic about the latest developments in Caswell-Massey's business strategy, as we assist this Company and others in our portfolio in their pursuit of e-commerce opportunities."
American Capital is a buyout and specialty finance company with capital resources exceeding $460 million. American Capital invests senior debt, subordinated debt and equity in businesses in need of capital for growth, acquisitions, ESOP buyouts, management buyouts, Internet development, liquidity and restructurings. Through www.Capital.com, financing is provided for receivable and inventory financing, working capital loans, machinery and equipment loans, real estate loans, construction financing, acquisition funding, management buyouts, ESOP financings, Internet development, liquidity and restructurings.
Companies interested in learning more about American Capital's flexible financing and ability to provide senior debt, subordinated debt and equity should contact Mark Opel, Principal, at (800) 248-9340, or visit our website.This press release contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The statements regarding expected results of American Capital Strategies 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 or national economic conditions, or changes in the conditions of the industries in which American Capital has made investments.
