Allied Capital Invests $13.9 Million in Commercial Credit Group.WASHINGTON -- Allied Capital Corporation (NYSE NYSE See: New York Stock Exchange :ALD ALD abbr. adrenoleukodystrophy ALD, n.pr See adrenoleukodystrophy. ALD aldolase. ) announced today that it has invested $13.9 million of growth capital in Commercial Credit Group ("CCG CCG Chicago CCG Collectible Card Game CCG Canadian Coast Guard CCG Country Commercial Guide CCG Children's Cancer Group CCG Commission Canadienne des Grains (Canadian Grain Commission) "), an equipment finance and leasing company serving middle market businesses in the fleet transportation, construction and waste markets. Founded in October 2004 by four seasoned executives, CCG focuses exclusively on small and middle market customers in three asset classes where each of its founders has extensive prior experience. Allied Capital's investment took the form of subordinated debt Subordinated Debt A loan (or security) that ranks below other loans (or securities) with regard to claims on assets or earnings. Also known as "junior security" or "subordinated loan". and preferred equity. Envest Ventures, Archbrook Capital, Winmark Corporation and management are all existing investors in the company. "Allied Capital's investment in CCG represents an excellent opportunity to invest in a sector with strong growth opportunities and a company run by a proven management team with an impressive track record," said John Fruehwirth, Managing Director of Allied Capital. "Management's keen focus on specific asset classes combined with the company's strong credit and underwriting discipline provide for a superior business platform." "We are delighted to have Allied Capital as our new financial partner," said Dan McDonough, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Commercial Credit Group. "Allied Capital has extensive knowledge of the specialty finance segment and equipment finance and leasing companies in particular. Their financial strength, structural flexibility, and long-term investment horizon make them an ideal partner as we position CCG for the future." About Allied Capital Allied Capital Corporation, a leading business development company with total assets of more than $3 billion, has paid regular, quarterly cash dividends to shareholders since 1963. 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. 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, the Company 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. 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 more than $10 billion and employ more than 85,000 people. 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 Investor relations The process by which the corporation communicates with its investors. toll-free at (888) 818-5298, or e-mail us at ir@alliedcapital.com. All media inquiries should be directed to Stan Collender of Financial Dynamics at (202) 434-0601. About Commercial Credit Group Founded in October 2004 and headquartered in Charlotte, NC, CCG is a specialty equipment finance and leasing company focused exclusively on small and middle market customers. CCG focuses on three core asset classes: construction, fleet transportation and waste equipment. The company originates its business through both vendors and end-users. Its strong relationships have afforded the company a high degree of repeat business from its core customer base. In addition to its Charlotte headquarters, the company has a full-service branch office in Wheaton, IL. For more information, please visit www.commercialcreditgroup.com. 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 some of 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 Allied Capital's periodic filings with the Securities and Exchange Commission. |
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