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Article: Allied Capital Announces Investment in Small Ticket Leasing Company.
- Article from:
- Business Wire
- Article date:
- March 6, 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 committed $75 million to acquire a majority interest in Direct Capital Corporation, a small ticket leasing company that provides financing for business-essential equipment.
Allied Capital's investment took the form of senior subordinated debt, junior subordinated debt and a majority of the common equity. A portion of the commitment represents future earn-out payments tied to the company's performance. Allied Capital funded $55 million of its commitment at closing. Senior management of Direct Capital also made a substantial debt and equity investment in the company alongside Allied ...