Materials M&A » By The Online Investor Staff, updated Thu., Apr. 25, 1:23 AM
Recent mergers and acquisitions in the Materials M&A category.
| This Slide: #28 of 80 |
Slide #28. SWM International — DelStar, Inc.
Acquirer:
SWM International (SWM)
Acquiree:
DelStar, Inc.
Details:
American Capital, Ltd. (Nasdaq: ACAS) ("American Capital") announced today that its portfolio company DelStar, Inc., including its subsidiary DelStar Technologies, Inc. ("DelStar"), was sold to SWM International (NYSE: SWM), a leading innovator of highly-engineered proprietary solutions centered around its paper technology. American Capital and its affiliated funds have received $167 million in equity proceeds, subject to post-closing adjustments, of which $97 million was received by American Capital. American Capital's compounded annual rate of return earned on its senior debt, subordinated debt and equity investments since the fourth quarter of 2005 was 18%, including interest, dividends and fees earned over the life of its investment. American Capital received 2.6 times its equity investment, and realized a compounded annual rate of return of 19% over the life of its equity investment, including dividends and fees.
Schweitzer-Mauduit International is a producer of engineered solutions and advanced materials for a variety of industries. Co. operates and manages two segments based on its product lines: Advanced Materials and Structures (AMS) and Engineered Papers (EP). In AMS, Co. manufactures and sells a variety of engineered resin-based nets, films, adhesive tapes, foams and other non-wovens. These materials are often used in applications serving the healthcare, construction, industrial, transportation and filtration end-markets. Co.'s EP segment primarily produces tobacco-related papers including various papers used in cigarette production and reconstituted tobacco, a reprocessed tobacco material.
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Strong Buy (4.00 out of 4) 100th percentile
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