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American Capital Invests $255 Million to Support Combination of Severn Trent Laboratories and TestAmerica.

Publication: PR Newswire
Publication Date: 25-JAN-07 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
BETHESDA, Md., Jan. 25 /PRNewswire-FirstCall/ -- American Capital Strategies Ltd. announced today that in the fourth quarter of 2006 it and an affiliate invested $255 million in TestAmerica Holdings Inc., the second largest operator of environmental testing laboratories in the United States. The investment supported TestAmerica's combination with Severn Trent Laboratories (STL), a division of Severn Trent plc and the largest operator of environmental testing laboratories in the United States. American Capital's one stop financing takes the form of senior term loans, senior subordinated debt and preferred equity. 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. H.I.G. Capital LLC is the majority owner of TestAmerica-STL.

"In our second partnership with H.I.G. Capital, American Capital is pleased to support TestAmerica's combination with Severn Trent Laboratories, the largest environmental testing...

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