Allied Capital Provides Financing for Acquisition of Leading Avionics Company.Business Editors WASHINGTON--(BUSINESS WIRE)--May 29, 2003 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 $20 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". to help finance Odyssey Investment Partners, LLC's acquisition of DeCrane Aircraft Holdings, Inc.'s Specialty Avionics Group (SAG), a leading provider of specialty components and systems to the aircraft industry. SAG is comprised of three companies: Avtech Corporation, Aerospace Display Systems, and Tri-Star Electronics, which together provide a wide variety of integrated products and services for commercial, corporate, and military aircraft in both the original equipment manufacturer (OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and ) segment and aerospace aftermarket. SAG's customers include Boeing, Bombardier, and Embraer in the OEM space and most of the domestic and international airlines in the aftermarket. "The appeal of DeCrane's Specialty Avionics Group is that the company's businesses have significant involvement in the aerospace aftermarket, strong market share, and long-term relationships with a number of the industry's leading companies," said Bill Walton, Allied Capital Chairman 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. . About Allied Capital Allied Capital is the nation's largest business development company and provides 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 investment capital to support the expansion of companies in a variety of industries. The company also participates in the real estate capital markets as an investor in non-investment grade commercial mortgage-backed securities. The company is headquartered in Washington, DC. For more information, please visit the web site at 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. About Odyssey Investment Partners, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control Odyssey manages a $760 million private equity fund engaged in making investments primarily in established middle-market companies in a variety of industries. The company focuses on three core sectors: industrial companies, communications, and financial services. Investments are primarily in the form of management-backed leveraged acquisitions, growth financings, and recapitalizations. Odyssey's principals collectively have over 90 years of private investment experience and a proven track record of successfully working with management teams to develop and implement strategies for growth. For more information about Odyssey, please visit the company's website at www.odysseyinvestment.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 the company's periodic filings with the Securities and Exchange Commission. |
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