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M&A Deal Summary

American Capital Acquires Centennial Broadcasting

On December 24, 1998, private equity firm American Capital acquired media company Centennial Broadcasting

Acquisition Highlights
  • This is American Capital’s 2nd transaction in the Media sector.
  • This is American Capital’s 15th transaction in the United States.
  • This is American Capital’s 1st transaction in North Carolina.
Investment Fate
  • Centennial Broadcasting was sold to a financial buyer in 2006.
  • Centennial Broadcasting was recapitalized in 2009.

M&A Deal Summary
Date 1998-12-24
Target Centennial Broadcasting
Sector Media
Buyer(s) American Capital
Deal Type Buyout (LBO, MBO, MBI)

Target

Centennial Broadcasting

Clemmons, North Carolina, United States
Centennial owns and operates radio stations in southwestern Virginia. Formats include classic rock, oldies, and talk.

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Buyer(S) 1

Buyer

American Capital

Category Private Equity Firm
Founded 1997
PE ASSETS 22.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

American Capital was a publicly traded buyout and mezzanine investment firm. American Capital invested in buyouts, growth capital financings, acquistion financings, and recapitalizations. The Firm looked to finance businesses with at least $4 million in EBITDA and valued between $20 and $500 million. American Capital ws a generalist firm with broad interest in traditional industries such as manufacturing, distribution, and services. American Capital's European investment affiliate is European Capital. European Capital looked to invest $10 to $600 million of equity, mezzanine, and/or senior debt in similar opportunities across Europe. American Capital was formed in 1997 and in January 2017, merged with Ares Capital Management.

DEAL STATS #
Overall 16 of 265
Sector: Media M&A 2 of 4
Type: Buyout (LBO, MBO, MBI) M&A Deals 11 of 125
State: North Carolina M&A 1 of 4
Country: United States M&A 15 of 253
Year: 1998 M&A 11 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1998-11-03 Euro-Caribe Packing Co.

Carolina, Puerto Rico

Euro-Caribe Packing Company, Inc. creating the largest independent producer of processed pork products in Puerto Rico.

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FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1999-01-01 Sound United

Vista, California, United States

Sound United is a designer and marketer of premium home-theater loudspeakers and consumer-branded vehicle security and convenience systems. Sound United's broad portfolio of high-performance home audio products, including speakers, surround sound systems, soundbars, and personal audio devices, is marketed under the Polk Audio and Definitive Technology brands. Sound United is based in Vista, California.

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