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American Capital Invests $10 Million in Second Lien Term Loan Financing to Support the Acquisition of Renaissance Learning, Inc.

2011-11-07 10:30 ET - News Release

BETHESDA, Md., Nov. 7, 2011 /PRNewswire/ -- American Capital, Ltd. (Nasdaq: ACAS) announced today that it invested $10 million to support RBC Capital Markets Corp.'s syndication of a $75 million Second Lien Term Loan financing to support the acquisition of Renaissance Learning, Inc. by Permira Advisors LLC.  

Renaissance Learning is a leading provider of technology-based school improvement and student assessment programs for K-12 schools.  The Company's products are found in more than 70,000 schools across the U.S. and are designed to accelerate learning and improve test scores by providing students practice of essential skills, specifically writing, reading and math, and helping teachers, administrators, and parents monitor student performance.

"We are very pleased to support RBC Capital Markets in their second lien syndication and add Renaissance Learning to our portfolio of diversified investments," said Pankaj Gupta, American Capital Managing Director.  "In the midst of turbulence in the credit markets, our ability to provide fast and flexible financing solutions structured specifically for the needs of all parties involved makes American Capital an attractive investment partner for sponsors, lenders and management teams."

"Our Sponsor Finance Group focuses on partnering with private equity firms such as Permira to provide financing of up to $100 million in senior, mezzanine, second lien, unitranche and equity co-investment in support of leading companies such as Renaissance Learning," said Ryan Brauns, Principal.  "With a long track record of efficacy supported by hundreds of research reports, Renaissance Learning's products are the trusted brands among educators and industry experts.  Furthermore, the proven efficacy and attractive costs of its products enable Renaissance Learning to experience extraordinary renewal rates across its diversified customer base."  

Since its August 1997 IPO, American Capital and its affiliated funds have invested approximately $30 billion in over 520 portfolio companies both directly and in support of leading financial partners in change of control transactions.  For more information about American Capital's portfolio, go to http://www.americancapital.com/our_portfolio/our_portfolio.html


American Capital is a publicly traded private equity firm and global asset manager. American Capital, both directly and through its asset management business, originates, underwrites and manages investments in middle market private equity, leveraged finance, real estate and structured products. Founded in 1986, American Capital has $57 billion in assets under management and seven offices in the U.S. and Europe. American Capital and European Capital will consider investment opportunities from $10 million to $300 million. For further information, please refer to www.americancapital.com

This press release contains forward-looking statements. The statements regarding expected results of American Capital 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, national or international economic conditions, or changes in the conditions of the industries in which American Capital has made investments.

Pankaj Gupta, Managing Director, Sponsor Finance Group (212) 213-2009
Ryan Brauns, Principal, Sponsor Finance Group (212) 213-2009
Adam Spence, Managing Director, Sponsor Finance Group (212) 213-2009

SOURCE American Capital, Ltd.

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