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Allied Capital Announces Investment in Nexcel Synthetics, LLC.
Business Editors
WASHINGTON--(BUSINESS WIRE)--Jan. 30, 2004
Allied Capital Corporation (NYSE:ALD) today announced that it has provided $10 million in subordinated debt and $1.69 million in equity capital to Nexcel Synthetics, LLC, a manufacturer of carpet backing, specialty synthetic yarns and fibers, and other polypropylene- and polyethylene-based products. The investment was made in conjunction with Blue Point Capital Partners' recapitalization of the company.
"We are fortunate to have this opportunity to work with Nexcel and Blue Point Capital Partners. Nexcel is led by proven entrepreneurs, who combine years of industry experience with technological innovation to consistently produce high quality products," said Bill Walton, Chairman and CEO of Allied Capital.
About Allied Capital
Allied Capital is the nation's largest business development company and provides 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 and collateralized debt obligation bonds and preferred shares. ...
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Source: HighBeam Research, Allied Capital Announces Investment in Nexcel Synthetics, LLC.