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American Capital exited its investment in Bankruptcy Management Solutions Inc. in the third quarter of 2006.

American Capital Provides Details of $46 Million of Total Net Realized Gains in Third Quarter

Bethesda, MD –-December 7, 2006 - American Capital Strategies Ltd. (Nasdaq:ACAS) announced today the details of $46 million of total net realized gains it recognized from portfolio investments in the third quarter of 2006.  Included in this amount were net realized gains of $106 million from the complete or substantial exit of 13 portfolio companies for total proceeds of $494 million. [more...]

American Capital Invests $78 Million in Recapitalization of Bankruptcy Management Solutions
Bethesda, MD - January 13, 2005 - American Capital Strategies Ltd. (Nasdaq:ACAS) announced today that in December 2004 it invested $78 million in the recapitalization of its portfolio company Bankruptcy Management Solutions, the leading provider of case management software, financial and other services to Chapter 7 bankruptcy trustees, Chapter 11 bankruptcy trustees and other fiduciaries. American Capital's investment takes the form of senior term debt and senior and junior subordinated debt. American Capital is also continuing to provide a revolving credit facility. American Capital first invested in BMS in December 2003, investing in senior term notes, senior and junior subordinated debt with warrants, common equity and providing a revolving credit facility. The proceeds from the recapitalization were used to refinance existing debt, pay a dividend to the equity holders, and fund working capital to support BMS' growth plans. As part of BMS' refinancing, American Capital received full repayment of its senior term notes and senior and junior subordinated debt and terminated its revolving credit facility. American Capital retains its equity interest in BMS. Lincolnshire Management remains the majority owner of BMS, and BMS management is maintaining its equity investment in the company. [more...]

A New Chapter in BMS Ownership
Bankruptcy Management Solutions (BMS), based in Irvine, CA, is a leading provider of software solutions and support for the management of Chapter 7 bankruptcies. The company's pioneering service, established in 1987, provides Chapter 7 trustees with the resources they need to manage and simplify the essential tasks of asset liquidation tracking, court reporting, and regulatory requirements. Previously as a wholly-owned subsidiary of JP Morgan Chase, BMS captured a leading share of the market and now serves more than half of the approximately 1,200 active Chapter 7 bankruptcy panel trustees in the United States. BMS software is used in an estimated 800,000 bankruptcy cases per year. [more...]