American Capital invests $32.8 million in Halex
American Capital's investment takes the form of senior subordinated notes and preferred stock. Antares Capital Corp. provided a senior term loan and revolving credit facility and also purchased preferred stock.
Halex's founders will own a significant interest in the recapitalized company and will continue in their current roles. Established to manufacture carpet tackstrip in 1990, Pomona, Calif.-based Halex now produces and sources a range of carpet installation supplies, purchasing and selling through global networks.
"Halex is now in a better position to refine its proprietary production machinery to suit the demands of a global marketplace," said Halex President Craig Silvers. "We are confident that the partnership strengthens our company and our ability to pursue new opportunities in existing and new markets."