Allied Capital Announces Sale of Portfolio Company Palm Coast Data.WASHINGTON -- Allied Capital Corporation (NYSE NYSE See: New York Stock Exchange :ALD ALD abbr. adrenoleukodystrophy ALD, n.pr See adrenoleukodystrophy. ALD aldolase. ) announced today the sale of its portfolio company Palm Coast Data Holdco Inc. to Kable Media Services Inc., a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of AMREP AMREP American Realty and Petroleum Corporation AMREP Aircraft/Missile Maintenance Compression Report AMREP Aircraft Missile Reporting System Corporation (NYSE:AXR AXR Absolute Executive Recruitment (Sydney, NSW, Australia) AXR Abdominal X-Ray ), for a total transaction value of $92 million. Allied Capital was repaid all of its outstanding debt in Palm Coast Data and realized a gain on the sale of its equity, including amounts held in escrow, of approximately $20 million, subject to customary post-closing adjustments. Allied Capital acquired Palm Coast Data in partnership with management in August 2005 and owned 85.7% of the fully diluted equity of the company. "The combination of Palm Coast Data with Kable Media Services creates a strong competitor in the outsourced magazine and membership fulfillment markets in the U.S.," said Dan Russell, Managing Director of Allied Capital. George Ferris, Principal of Allied Capital added that, "We've enjoyed working with the Palm Coast Data management team and are delighted with the outcome of our partnership with them." "Allied Capital has been a true value-added partner to our company," said the President of Palm Coast Data, John Meneough. "They have provided significant financial and managerial support to our business and helped position our company to effect this important transaction." About Allied Capital Allied Capital Corporation, a leading business development company with total assets of more than $4 billion, has paid regular, quarterly cash dividends to shareholders since 1963. Since its IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. in 1960, Allied Capital has provided long-term debt Long-Term Debt Loans and financial obligations lasting over one year. Notes: For example debts obligations such as bonds and notes which have maturities greater than one year would be considered long-term debt. and equity financing Equity Financing The act of raising money for company activities by selling common or preferred stock to individual or institutional investors. In return for the money paid, shareholders receive ownership interests in the corporation. to thousands of middle market companies. Allied Capital invests in the American entrepreneurial economy by providing capital to companies seeking a long-term financial partner and access to managerial resources often unavailable to smaller companies. In serving its shareholders, Allied Capital helps build middle market businesses and support American jobs. The Company's private finance portfolio includes investments in over 100 companies that generate aggregate revenues of approximately $12 billion and employ more than 85,000 people. Allied Capital provides flexible, competitive debt and equity capital for management and sponsor-led buyouts, recapitalizations, acquisitions and growth of middle market companies. Allied Capital's seamless, one-stop financing capabilities include first and second lien senior loans, unitranche debt, junior or mezzanine debt and equity. Headquartered in Washington, DC, Allied Capital offers shareholders the opportunity to participate in the private equity industry through an investment in the Company's New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Stock Exchange-listed stock, which is traded under the symbol ALD. For more information, please visit www.alliedcapital.com, call Allied Capital investor relations toll-free at (888) 818-5298, or e-mail us at ir@alliedcapital.com. All media inquiries should be directed to Gay Truscott at 202-721-6100. About Palm Coast Data Palm Coast Data ("PCD PCD polycystic disease. ") is a leading provider of fulfillment services to U.S. publishers of magazines and to membership associations. Located in Palm Coast, Florida Palm Coast a city in Flagler County, Florida, United States. As of 2006, the population recorded by the U.S. Census Bureau is 68,013.[3] Palm Coast is the principal city of the Palm Coast, Florida Metropolitan Statistical Area, designated in 2007. , the Company has been providing fulfillment solutions for the magazine publishing industry since 1984. It has a client roster that includes many of the major U.S. publishers and associations. The Company manages subscriber relationships on behalf of its customers, processing payments, maintaining subscriber databases, and serving as the primary point of contact (telephone, Internet, and regular mail) between customers and their subscribers or members. For more information, please visit www.palmcoastd.com. About AMREP Corporation AMREP Corporation is primarily engaged in two businesses: land development and magazine and product service operations. Its AMREP Southwest subsidiary is a major landholder and a leading developer of real estate in New Mexico. It is the founder of Rio Rancho, now the third largest city in New Mexico, where the focus of its current activity is on the entitlement, development and sale of land for residential, commercial and industrial uses. Its Kable Media Services business, which was founded in 1932, has major locations in Illinois, Colorado, Ohio and New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , and provides an array of magazine and product fulfillment and fulfillment-related services to publishers and others and distributes magazines, both in the United States and elsewhere in the world. Forward-Looking Statements The information contained in this press release contains forward-looking statements. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. Certain factors could cause actual results and conditions to differ materially from those projected in these forward-looking statements, and these factors are enumerated This term is often used in law as equivalent to mentioned specifically, designated, or expressly named or granted; as in speaking of enumerated governmental powers, items of property, or articles in a tariff schedule. in the company's periodic filings with the Securities and Exchange Commission. |
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