Date: Thu, 18 Dec 1997 11:44:14 GMT Server: Apache/1.2.0 Connection: close Content-Type: text/html
![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() |
![]() |
What's new at Allied Capital?
Well, there's a lot that's new. Deals and events are going
on all the time. In short, we are rather busy. To give you an
idea of the current deals and events taking place within
the Allied Capital family of companies, read on!
![]() |
For Release: November 26, 1996Contact: Laura Gladstone (202) 3312444
Allied CapitalHelping U.S. Small Businesses Grow Internationally
(Washington, DC) Allied Capital continues to help finance U.S. small businesses expanding into emerging nations. Allied Capitals most recent international investment was to Pico Products, Inc. (Amex PPI), a company that manufactures and distributes broadband electronic systems and components for the worldwide cable television and telecommunications industry. The company is headquartered in California, and maintains operations in Taiwan, Hong Kong, St. Kitts, Thailand, and Brazil.
The $6 million private placement was led by Allied Capital, who invested $5 million of subordinated debt with warrants to purchase common stock. The Sinkler Corporation of Philadelphia, PA invested $1 million in redeemable preferred stock.
Cabell Williams, President, said The new capital will be used to finance the companys growth in the Caribbean, Brazil and Asia, to develop new products, and to acquire new telecommunications technologies. We are very excited about the companys plans to expand into OPICdesignated nations, which fulfills our mission of creating opportunities both at home and overseas.
For Release: October 7, 1996
Contact: Laura Gladstone (202) 3312444
Allied Capital Continues to Go International
(Washington, DC) Allied Capital continues to provide financing to businesses in need of international mezzanine capital. After securing a $20 million debt facility from the Overseas Private Investment Corporation (OPIC), Allied Capital has provided two businesses with financing this year. The most recent is a $3.7 million investment in Csabai Canning Factory Ltd. located in Békéscsaba, Hungary. Csabai Canning Factory is one of the largest food processing operations in Hungary. The company began in 1962, and today cans vegetables, juice concentrate, tetrapack, and produces pasta. The Companys primary customer base is in the countries that make up the former Soviet Union.
Cabell Williams, President and Chief Investment Officer of the international operations at Allied Capital, says Due to its competitive advantages, Csabai Canning Factory Ltd. is wellpositioned to remain an important food supplier to Russia in the long run. The long term financial projections show a steady growth in earnings over the next five years.
Allied Capitals first international investment was to a paging company that is expanding its operations throughout South America. Allied Capital provided the company with $7 million in subordinated debt.
For Immediate Release
Contact: Laura Gladstone, (202) 3312444
Allied Capital Breaks Bread with Au Bon PainWashington, DCAllied Capital led a $15 million round of senior subordinated debt financing with warrants for Bostonbased Au Bon Pain, Inc. Capital Trust Developments, Ltd. coinvested in the round with a $7.5 million investment.
The proceeds will be used for expansion of Au Bon Pain cafes and St. Louis Bread stores across the country, as well as for capital expenditures and remodeling of existing stores.
With the synergies Au Bon Pain has created with St. Louis Bread and their strategic plans for the next five years, the Company has solidified its unique position in the market said Cabell Williams, President, Allied Capital.
Au Bon Pain is a premier provider of highquality, quickservice cafefood with 238 companyowned units and 44 franchised units located throughout major metropolitan markets in the U.S. and 6 countries abroad. With the acquisition of St. Louis Bread in 1994, Au Bon Pain is poised to enter its next phase of growth.
The company was founded in 1981 by Ronald M. Schaich, Chairman and CEO, and Louis I. Kane, CoChairman.
For Release: July 5, 1996
Summary: George C. Williams Announces Retirement as Vice Chairman
Allied Capital Advisers, Inc. (Nasdaq: ALLA) announced today that the company's Vice Chairman, George C. Williams, 70, has stepped down as Vice Chairman. He will remain a director of the company, as well as a director of all of the Allied Capital companies managed by Allied Capital Advisers, Inc. Mr. Williams has been retained by Allied Capital Advisers, Inc. as a financial consultant and will provide investment advisory services to the company and all of its managed entities.
In addition, Mr. Williams has stepped down as Vice Chairman of the following publicly traded companies:
Allied Capital Corporation (ALLC)Allied Capital Corporation II (ALII)
Allied Capital Commercial Corporation (ALCC)
Allied Capital Lending Corporation (ALCL)
Mr. Williams has been with the Allied Capital family of companies since 1958, and has served as a director of the oldest fund, Allied Capital Corporation (ALLC), since 1964. Mr. Williams has served as Chairman of the Board, and more recently as Vice Chairman. The company does not plan to appoint another Vice Chairman. Over the last 30 years, he has served as a director of numerous portfolio companies in which Allied Capital made investments, and is a past chairman of the National Association of Small Business Investment Companies (NASBIC). He received the firstever Lifetime Achievement Award from NASBIC in 1988, in recognition of his years of service to the venture capital industry and "the absolute integrity he has shown in dealing with the small business community, with his fellow investors, and with the government."
Mr. Williams said, "It is time for me to reduce my involvement in the company. I will still be active in giving advice to the management of all the companies but I will not be active in the daytoday management of any of the entities. I look forward to helping the company continue its spectacular growth."
Allied Capital Advisers, Inc. is a publicly traded investment adviser located in Washington, DC. The stock is traded on the Nasdaq National Market, symbol ALLA and is currently trading at approximately $7.19 per share. There are 8,990,349 shares outstanding. For further information or a copy of the company's annual report, please contact Allied Capital's Investor Relations Department at (202) 9736383, or fax to (202) 6592053.
NEWS RELEASE
For Release: June 19, 1996
Summary: Investment in Labor Ready Inc. (LBOR) Provides Significant Unrealized Appreciation to Allied Capital
Allied Capital Corporation (ALLC) and Allied Capital Corporation II (ALII) announced today that one of their portfolio companies, Labor Ready Inc. (LBOR), has completed its secondary offering. Labor Ready, traded on the Nasdaq National Market, sold a total of 1,495,000 shares at $24.50 per share. The stock has recently traded in excess of $31.00 per share. Based in Tacoma, WA, Labor Ready provides temporary staffing for industrial companies nationwide and has grown rapidly in recent years.
As part of the subordinated debt financing provided by the Allied Capital companies to Labor Ready, Allied Capital Corporation and Allied Capital Corporation II each hold warrants to purchase shares of common stock of Labor Ready at a price of $11.67 per share. Allied Capital Corporation can purchase up to 180,828 shares and Allied Capital Corporation II can purchase up to 160,356 shares at this price.
The Allied Capital companies estimate that their combined holdings in Labor Ready have appreciated by more than $5.4 million to date. "We believe in the Labor Ready story and plan to continue to hold the investment for additional growth," remarked Cabell Williams, President and Portfolio Manager of Allied Capital Corporation.
Allied Capital Corporation (ALLC) and Allied Capital Corporation II (ALII) are publicly traded business development companies, headquartered in Washington, DC traded on Nasdaq National Market. The companies make longterm investments ranging in size from $2 million to $8 million in small, private growing businesses throughout the United States. For additional information, please contact Allied Capital's Investor Relations Department at (202) 9736326 or fax to (202) 6592053.
Allied Capital Corporation has 6,947,274 total shares outstanding and pays a regular quarterly dividend of $0.27 per share and an annual extra distribution which is determined at year end. ALLC paid a total of $1.44 per share for the year ended December 31, 1995, and paid a total of $1.40 per share, including a $0.60 per share annual extra distribution in the form of shares of Allied Capital Lending Corporation, for the year ended December 31, 1994. Allied Capital paid a total of $1.35 per share for the year ended December 31, 1993 and $1.32 per share for 1992. Allied Capital has paid regular quarterly distributions and an annual extra distribution since 1964. All numbers have been adjusted for stock splits. Allied Capital's stock is marginable. A recent quote of the stock was $13.75.
Allied Capital Corporation II has 7,249,984 total shares outstanding. Allied Capital II pays a regular quarterly dividend of $0.35 per share and has paid an extra distribution each year since inception. For 1995, ALII distributed a total of $1.60 per share to shareholders; for 1994, distributions totaled $1.34 per share; for 1993, distributions totaled $1.22 per share; for 1992, distributions totaled $1.15 per share. Allied Capital II's stock is marginable. A recent quote of the stock was $17.875.