Allied Capital Invests $28 Million in Becker Underwood.WASHINGTON -- Allied Capital Corporation (NYSE NYSE See: New York Stock Exchange :ALD ALD abbr. adrenoleukodystrophy ALD, n.pr See adrenoleukodystrophy. ALD aldolase. ) today announced that it has provided $23 million in 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 $5 million in equity capital to support the acquisition of Becker Underwood, Inc. by Norwest Equity Partners. Senior management of the company reinvested equity as part of the buyout transaction. Becker Underwood is a leading manufacturer and marketer of non-pesticide specialty chemicals and biological products. "Over the past 22 years, Becker Underwood has executed a strategy of identifying profitable niche markets and developing or acquiring products to satisfy customer needs in these areas," said Tom Westbrook, Managing Director of Allied Capital. "We believe the company's strong management team, diversified product and customer base, and the growth profile of its core businesses should drive an attractive, long-term outlook for the company." About Allied Capital Allied Capital Corporation, the nation's largest business development company with total assets of more than $3 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, the company has been providing 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. primarily to private, middle market companies. Allied Capital's mission is to generate solid total returns from a diversified private equity and commercial real estate portfolio that invests in the U.S. entrepreneurial economy. In serving our shareholders, we help build U.S. companies and create and sustain jobs. The company's private finance portfolio includes investments in over 100 companies with aggregate revenues of in excess of $11 billion, supporting more than 100,000 jobs. 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. For all media inquiries, please call (202) 331-1112. About Becker Underwood, Inc. Founded in 1982, Becker Underwood manufactures and markets non-pesticide specialty chemicals and biological products sold into a diverse array of agricultural, turf, landscape, and horticultural markets. The company's products hold leading positions in their niche end-markets, which broadly include seed enhancements, landscape coatings, and turf and horticultural markets. The company maintains a highly diversified product set sold through multiple distribution channels to a customer base that is characterized by long-standing relationships and low customer concentration. Headquartered in Ames, Iowa Ames is a city located in the central part of the U.S. state of Iowa, about 30 miles north of Des Moines in Story County. It is the principal city of the 'Ames, Iowa Metropolitan Statistical Area' which encompasses all of Story County, Iowa and which, when combined with the , the company has grown since its founding through new product introductions and strategic acquisitions. For more information please visit www.beckerunderwood.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 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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