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Article: Allied Capital Announces Gain from Sale of Minority Equity Interest in HMT Inc.
- Article from:
- Business Wire
- Article date:
- May 14, 2007
CopyrightCOPYRIGHT 2007 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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WASHINGTON -- Allied Capital Corporation (NYSE:ALD) announced today that it has realized a gain on the sale of its minority equity interest in HMT Inc. of approximately $40 million, subject to post-closing adjustments. Nassau Point Investors, the majority owner of HMT, completed the sale of the company to Berkshire Partners on May 10, 2007. Allied Capital owned approximately 27 of the fully-diluted shares of HMT and the cost basis of its equity investment totaled $6.8 million.
HMT is a leading international provider of products and services for the maintenance, repair and inspection of aboveground storage tanks. Allied Capital financed the buyout of HMT by Nassau ...