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Corrpro Companies Inc.
| American Capital Invests $16 Million in Leading Provider of Corrosion Protection Products & Services Bethesda, MD - March 31, 2004 - American Capital Strategies Ltd. (Nasdaq:ACAS) announced today it has invested $16 million in Corrpro Companies Inc. (AMEX: CO), the leading single-source solution provider of corrosion protection related services, systems, equipment and materials. American Capital's investment takes the form of senior subordinated debt with warrants and, through a limited liability company established in conjunction with Wingate Partners, redeemable preferred equity with warrants. American Capital's investment supports Wingate Partners' acquisition of voting control of Corrpro. CapitalSource Finance LLC provided a revolving credit facility and a senior term loan and through its affiliates invested equity. Post closing, American Capital will own approximately 19.2% of Corrpro on a fully diluted basis. [more...] Corrpro Has Pipeline Full of Opportunities |
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