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American Capital Invests $631 Million in One Stop Buyout™ of SMG

Bethesda, MD – June 25, 2007 – American Capital Strategies Ltd. (Nasdaq:ACAS) announced today that it and an affiliate have invested $631 million in the One Stop Buyout ™ of SMG, the leading provider of entertainment and conference venue management services worldwide.  American Capital’s investment takes the form of a senior term loan, senior subordinated debt, holding company PIK notes and convertible preferred and common equity.  In addition, American Capital is also providing a revolving credit facility.  American Capital Equity Fund I LLC (“ACE”), a fund managed by American Capital, provided 30% of the American Capital equity investment.  Post close, American Capital owns approximately 83% of SMG, on a fully diluted basis. [more...]