RECYLCER/REMANUFACTURER OF IMAGING PRODUCTS
Headquartered in Ottawa, Illinois, the Company provides recycling solutions, including the global distribution of recycled and remanufactured imaging supplies. The Company was recently acquired by a financial sponsor. In June 2010, Ableco purchased $13.3 million on the second lien credit facility.
INDUSTRIAL MANUFCTURER
The Company is headquartered in Tucson, Arizona and operates manufacturing facilities located in twelve countries. The Company is comprised of three distinct businesses. One segment manufactures carburetors and ignition systems for the outdoor power and marine/recreational markets. The second business segment manufactures structural parts for passenger cars and light truck markets while the last business manufactures fluid carrying systems for the refrigeration industry. For Fiscal Year 2009, the Company recorded in excess of $380 million in revenues. The credit facility consists of a $50 million Revolving Credit Facility, split between a domestic and international borrower and a $79 million Term Loan A and a $79 million Term Loan B. In March 2010, Ableco Finance LLC closed on a term loan C of $14.7 million that provided liquidity to the equity sponsor.
PROVIDER OF MOBILE BROADBAND SOFTWARE
Headquartered in Chelmsford, Massachusetts, the Company is a leading provider of mobile broadband software products for wireless operators. The Company’s products enable wireless networks to deliver 3G broadband-quality multimedia services to the users of mobile smart phones, laptop computer aid cards, and other mobile devices. For the LTM period ended February 2010, the Company generated Pro Forma Billings Revenue and EBTIDA of ~$174 million and ~$126 million, respectively. Ableco participated in a $160 million Senior Term Loan Facility. Proceeds were used to finance the take-private acquisition of the Company by a private equity sponsor.
FERTILIZER PRODUCER AND MANUFACTURER
Headquartered in Deerfield, Illinois, the Company is one of the largest manufacturers and distributors of nitrogen and phosphate fertilizer products in North America. For the LTM period ended December 31, 2009, the company generated revenues of $2.6 billion and EBITDA of $709 million. The Company recently completed the acquisition of an industry competitor for $3.8 billion. As part of the transaction, Ableco provided $225 million of a $1.75 billion Bridge Loan Facility, proceeds from which were used for a portion of the purchase price. Post acquisition Pro Forma revenue and EBITDA are $4.0 billion and $1.1billion, respectively.
FOOD SERVICE VENDOR
Headquartered in Spartanburg, South Carolina, the Company is a leading provider of food and beverage concessions, catering, and merchandise and facilities management services in sports facilities, convention centers and other entertainment facilities throughout the United States and into Canada. The Company has a large, diversified client base, serving 133 facilities, with an average client relationship length of over 15 years. The Company’s Net Sales and EBITDA for fiscal year ended December 30, 2008 were $824.7 million and $54.7 million, respectively. In January 2009 the Company was acquired by a middle market sponsor for $125 million plus $148 million of debt. Ableco participated in this financing with $12.9 million committed to a revolving credit facility, and $7.9 million funded term loan B.