On Wednesday, Shares of American Capital Ltd. (NASDAQ:ACAS), gained 0.70% to $ 14.33.
Antares Capital and American Capital, declared that they were co-lead arrangers of a $170 million unitranche facility to support the acquisition of Kele, Inc. (“Kele”) by Snow Phipps Group, LLC (“Snow Phipps”). Antares Capital acted as Agent. Kele is an independent distributor of peripheral control products used in building automation systems of commercial buildings in North America.
Douglas Cannaliato, Senior Managing Director at Antares Capital, said, “We’re thrilled to be lead arranger of this financing for Snow Phipps, ongoing our decade-long relationship with Kele. We have a lot of confidence in administration and a history of successful partnering with Snow Phipps.”
Ryan Brauns, Managing Director and Head of Sponsor Finance at American Capital, said, “We are delighted to have closed our second transaction with Snow Phipps in the last twelve months and were glad to partner with Antares to provide a joint execution.”
Founded in 1983 and headquartered in Memphis, TN, Kele supplies over 108,000 peripheral control products, counting pressure controls, sensors, and control valves, that are critical components for commercial and industrial buildings to operate efficiently. The products are used to detect and transmit information such as room temperature and humidity to building controllers, allowing building operators to manage internal environments, save on energy costs and keep expensive mechanical systems, such as large HVAC systems, running correctly.
American Capital, Ltd. is a private equity and venture capital firm. It is a business development company specializing in administration and employee buyouts, subordinated debt, leveraged finance, mezzanine, acquisition, recapitalization, middle market, early venture, mature, industry consolidation, and growth capital investments. The firm seeks to invest in senior debt mezzanine, unitranche, and equity financing for buyouts of private equity firms and direct in private and public companies.
Shares of Northstar Realty Finance Corp (NYSE:NRF), inclined 4.13% to $18.91, during its last trading session.
NorthStar Realty Finance, declared its results for the third quarter ended September 30, 2015.
Third Quarter 2015 Results
NorthStar Realty stated CAD for the third quarter 2015 of $157.0 million, or $0.85 per share. Net (loss) to common stockholders for the third quarter 2015 was $(126.1) million, or $(0.69) per diluted share.
Jonathan A. Langer, Chief Executive Officer, commented, “North Star Realty continues to diligently execute its disciplined business strategies and remains committed to building a portfolio of diversified commercial real estate assets that we expect will generate long-term, durable cash flows. With the company trading at a noteworthy discount to its net asset value, we believe our stock represents an extremely attractive investment opportunity.”
NorthStar Realty Finance Corp. is a commercial real estate company. The Company invests in multiple asset classes across commercial real estate (CRE). Its portfolio comprises of healthcare, hotel, manufactured housing communities, net lease, multifamily properties and international real estate, with a focus on Europe.
Finally, Shares of UTi Worldwide Inc. (NASDAQ:UTIW), remained flat at $6.97.
UTi Worldwide, declared that it is withdrawing the financial guidance offered on September 3, 2015 for all financial metrics and periods presented. Such financial guidance should no longer be relied upon as a representation of the Company’s best estimate of future results. In light of the Company’s declared transaction with DSV and the disclosures regarding the Company’s recent financial performance as set forth in the preliminary proxy statement filed with the SEC earlier recently, the Company will not be providing financial guidance for future periods.
On November 3, 2015, the U.S. Federal Trade Commission notified the Company that the U.S. Department of Justice and the U.S. Federal Trade Commission have granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, in connection with the Company’s declared transaction with DSV. All other competition and U.S. government approvals are in process, with either definitive or draft filings made for all required competition approvals. The Company has filed its preliminary proxy statement with the SEC and it is working to complete the transaction with DSV as promptly as practicable, which is predictable to be in the first calendar quarter of 2016, as formerly declared.
On November 5, 2015, the Company held a special meeting of the holders of the series of Class A Preference Shares, with no par value, of the Company designated the Convertible Preference Shares. At such meeting, the holders of the Convertible Preference Shares unanimously voted in favor of the DSV merger agreement, the merger and the transactions contemplated thereby.
UTi Worldwide Inc. operates as a non-asset-based supply chain services and solutions company. It operates through two segments, Freight Forwarding, and Contract Logistics and Distribution.