M&A Deal Summary

Prospect Capital Management Acquires Appalachian Energy

On June 30, 2006, business development company Prospect Capital Management acquired energy services and equipment company Appalachian Energy

Acquisition Highlights
  • This is Prospect Capital Management’s 4th transaction in the Energy Services and Equipment sector.
  • This is Prospect Capital Management’s 13th transaction in the United States.
  • This is Prospect Capital Management’s 1st transaction in West Virginia.

M&A Deal Summary
Date 2006-06-30
Target Appalachian Energy
Sector Energy Services and Equipment
Buyer(s) Prospect Capital Management
Deal Type Buyout (LBO, MBO, MBI)

Target

Appalachian Energy

Charleston, West Virginia, United States
Appalachian Energy provides site preparation and other services to oil, gas and coal producers in West Virginia, Virginia and Kentucky. For oil and gas producers, AEH performs drilling site preparation, pipeline construction and ancillary services. For coal producers, AEH conducts tree clearing and other mine site development and construction. AEH serves a diverse set of customers, including top Appalachian coal, oil and gas producers. Appalachian Energy was formed in 1976 and is based in Charleston, West Virginia.

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Buyer(S) 1

Buyer

Prospect Capital Management

New York, New York, United States

Investor Investor Investor Investor Investor

website

Category Business Development Company
Founded 1988
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Prospect Capital Corporation is a publicly traded mezzanine debt and private equity firm that primarily provides non-control financing to support growth, recapitalizations, acquisitions, and development. Prospect will selectively consider control acquisitions by providing multiple levels of the capital structure. Prospect was initially formed in 1988 and went public 2004. The Firm is based in New York City.

DEAL STATS #
Overall 14 of 86
Sector (Energy Services and Equipment) 4 of 12
Type (Buyout (LBO, MBO, MBI)) 11 of 42
State (West Virginia) 1 of 1
Country (United States) 13 of 83
Year (2006) 8 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-05-16 Targus

Anaheim, California, United States

Targus is a provider of quality and innovative mobile computer accessories, cases, and bags. Targus was formed in 1983 and is based in Anaheim, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-07-26 Adapco

Sanford, Florida, United States

Adapco, Inc. vector disease control field. The Company provides comprehensive, integrated solutions for controlling mosquitoes and mosquito-borne diseases, by offering its customers a complete array of chemicals, equipment, technology, assistance and application services.

Buy -
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