Glendale, CA—February 25, 2005—FutureLogic, Inc., a leading manufacturer of thermal printers for the gaming, parking, POS, medical and agricultural industries, announced today that a majority interest in the company has been acquired by American Capital Strategies Ltd. (Nasdaq:ACAS).
American Capital invested $108 million in the buyout and now owns approximately 64% of FutureLogic on a fully diluted basis. As a minority investor in FutureLogic since December 2002, American Capital has seen FutureLogic grow revenues in excess of 118% during the holding period.
"Over the last few years, American Capital has proven to be a supportive partner of FutureLogic, understanding and respecting our business, backing our vision for growth and providing the appropriate financial and operational resources for us to move forward," said FutureLogic President & CEO Anthony DiMarco. "We look forward to working with American Capital in the years ahead as FutureLogic continues to provide innovative, customized products to the North American and international gaming markets, as well as other niche markets."
Founded in 1983, Glendale, CA-based FutureLogic is the leading supplier for thermal printers found in cashless slot machines. Thermal printing is the accepted technology for transaction-based receipt printing, such as a voucher for a slot machine, a bar code label used for tracking purposes and pay-at-the-pump gasoline purchases.
"FutureLogic is the leading developer and provider of thermal printers to the robust, recession resistant gaming industry, serving virtually every gaming machine manufacturer as the primary supplier," said American Capital Principal Aseem Giri. “With the leading position in the North American gaming market and the opening of FutureLogic Europe in London, we believe the company is well positioned to benefit from the substantial growth in worldwide gaming markets and emerging opportunities in targeted niche markets."
Founded in 1983 and headquartered in Glendale, Calif., FutureLogic designs and builds high-reliability electromechanical assembly solutions for nearly every printing need. As the undisputed leader in super-robust thermal printer technology, FutureLogic is the industry’s premier supplier of thermal printers for casino gaming, promotional equipment, kiosk, industrial, RTAL, gas pumps and medical applications. In July 2004 the company founded FutureLogic Europe Ltd to provide direct sales and engineering support for the growing OEM thermal printer markets in Europe. More information on the company is available at www.futurelogic-inc.com.
American Capital is a publicly traded buyout and mezzanine fund with capital resources of more than $4.8 billion. American Capital is an investor in and sponsor of management and employee buyouts, invests in private equity buyouts, and provides capital directly to private and small public companies. American Capital provides senior debt, mezzanine debt and equity to fund growth, acquisitions and recapitalizations. More information on American Capital can be found on their website.