Daily News: April 15, 2014

American Capital Commits $71MM to Support Luminator Buy

American Capital announced it committed $71 million to support the acquisition of Luminator Technology Group by Audax Group. American Capital’s investment takes the form of a second lien term loan, committed delayed draw facility and common equity.

“American Capital has partnered with Audax on numerous investments over the years and we are delighted to have the opportunity to work together again by providing financing for this very attractive investment,” said Dan Cohn-Sfetcu, managing director, Sponsor Finance. “With more than 15,000 customers in approximately 80 countries, and facilities strategically located in key markets, Luminator is well-positioned to capitalize on global growth drivers that are increasing the demand for mass transportation across both developed and emerging markets.”

“Over its 80 year history, Luminator has helped drive innovation in its served mass transportation markets across multiple technological cycles, and its products are recognized throughout the industry for their high quality and performance achieved through world class engineering innovation and design,” said Ryan Brauns, managing director and head of sponsor finance. “Our Sponsor Finance Group is solely focused on supporting top tier private equity firms by committing up to $150 million in capital to strong, leading middle market companies such as Luminator.”

“American Capital’s ability to provide creative and flexible financing solutions, their responsiveness throughout execution of the transaction, and their commitment to support the long-term growth of our portfolio companies makes American Capital an excellent investment partner,” said Mark Cordes, managing director, Audax.

Plano, TX-headquartered Luminator is a designer and manufacturer of highly engineered display, lighting and passenger communication systems for the global mass transportation market.