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American Capital Invests $57 Million in Buyout of Engineered Textile Group

Bethesda, MD - May 12, 2005 - American Capital Strategies Ltd. (Nasdaq:ACAS) announced today it has invested $57 million in the buyout of Engineered Textile Group Inc. ("ETG"), parent company to Southern Weaving Company, a leading global provider of narrow, high tensile strength woven webbings to a wide variety of industries including marine, mining, transportation, construction and energy. American Capital's investment takes the form of senior term loans, senior and junior subordinated debt and preferred equity. American Capital's investment also includes a revolving credit facility. Engineered Textile management is rolling over a portion of equity and will continue to manage the company. Post close, American Capital owns a controlling interest in ETG with ETG management maintaining a signficant ownership interest. More...

ETG Shows Strength in Textile Markets

Engineered Textile Group, Inc., based in Greenville, SC, is a leading U.S. manufacturer of highly-engineered, specialty textile products. The high tensile strength of its webbing products - used for lifting slings, fall protection harnesses, hose sleeving and cargo restraints - ensures product and personal safety in rigorous industrial applications. The company's high quality, customized products, strong customer relationships and efficient service have earned ETG a leading share in its markets. More...