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American Capital Invests $29 Million in Infiltrator Systems

Bethesda, MD - October 7, 2005 - American Capital Strategies Ltd. (Nasdaq:ACAS) announced today it has invested $29 million in Infiltrator Systems, Inc., a leading manufacturer of plastic chambers used in underground wastewater management systems. American Capital's investment takes the form of senior subordinated debt and supports Graham Partners' acquisition of Infiltrator. A syndicate led by Merrill Lynch Capital is providing senior financing, including a revolving credit facility, a capex facility and senior term loans. A group led by Graham Partners and Infiltrator management are investing in the equity. More...

Infiltrator Systems Promises to be Impervious

Infiltrator Systems, Inc. got its start in the mid-1980s when James Nichols, a mechanical engineer who had been a consultant in the design and manufacture of plastic components, was wrestling with a failing septic system in his own backyard. In 1986, Nichols, in partnership with George Haines, founded the company, which has become the leading manufacturer of plastic chambers used in underground wastewater (septic and stormwater) management systems. A year later, the company, based in Old Saybrook, Connecticut, developed a plastic substitute for traditional stone and pipe septic systems. More...