American Securities LLC is an American private equity firm based in New York with an office in Shanghai that invests in market-leading North American companies with annual revenues generally ranging from $200 million to $2 billion and/or $50 million to $250 million of EBITDA. American Securities and its affiliates have approximately $23 billion under management.[1] American Securities traces its roots to a family office founded in 1947 by William Rosenwald, the son of Julius Rosenwald, the longtime CEO of Sears, Roebuck and Co.
 | |
| Company type | Private |
|---|---|
| Industry | Private equity |
| Founded | 1994 |
| Founder | Michael G. Fisch |
| Headquarters | 590 Madison Avenue New York City, New York, U.S. |
| Products | Private equity funds, Leveraged buyouts |
| AUM | $26 billion (2023) |
| Website | www |
History
editWilliam Rosenwald—who had inherited the Rosenwald fortune from his father Julius Rosenwald—founded American Securities Capital Partners in 1947.[2]
In 1993 Michael G. Fisch became the William Rosenwald family's financial advisor.[3]
In 1994—with Fisch as Director and CEO—American Securities opened their first fund to outside investors.[4] By 2012 they had invested in "39 companies in a wide variety of industries, including industrial manufacturing, specialty chemicals, aerospace and defense, energy, business services, healthcare, media, restaurants, and consumer products."[5]
In June 2009, American Securities Capital Partners officially changed its name to American Securities LLC.[6] As of February 2021, American Securities and its affiliates had approximately $23 billion under management. American Securities has invested in 67 companies across a variety of industries. As of February 2021, American Securities is currently partnered with 21 companies that have 109,900 collective employees worldwide.[1]
Affiliates
edit- Ascribe Capital is an affiliate of American Securities LLC that manages approximately $2 billion of long-term capital focused on investing in the debt, and sometimes equity, securities of middle-market companies.[7]
Current investments
editInvestments as of 2021:[8]
- Acuren
- Air Methods
- Amentum
- Aspen Dental
- BELFOR
- Blount International
- Blue Bird
- Conair
- Chromaflo Technologies
- CPM
- Emerald Performance Materials
- FleetPride
- Foundation Building Materials
- Global Tel Link (GTL)
- Henry Company
- Hexion
- Learning Care Group
- Milk Specialities Global
- MW Components
- North American Partners in Anesthesia
- Prince
- r-pac
- Ulterra Drilling Technologies
- United PF
Previous investments
editPrevious investments as of 2021.[9]
- Advanced Drainage Systems
- Anthony International
- Arizona Chemical
- Cambridge International
- Caribbean Restaurants
- Community Pacific Broadcasting
- CTB International
- Delphi Midstream Partners
- Dr. Leonard's Healthcare
- El Pollo Loco
- Fairmount Santrol
- FiberMark
- Frontier Spinning Mills
- General Chemical
- Grede
- GT Technologies
- Healthy Directions
- HHI
- Ketema, Inc.
- Lakeside Energy
- Liberty Tire Recycling
- MECS
- Metaldyne
- Metaldyne Performance Group
- Miltex Instrument Company
- Mortgage Contracting Services
- MVE
- NEP Broadcasting
- Oreck Corporation
- PDM Bridge
- Potbelly Sandwich Works
- Presidio
- Press Ganey
- Primary Energy Ventures
- Robertson Fuel Systems
- Royal Adhesives and Sealants
- SeaStar Solutions
- SpecialtyCare
- Tekni-Plex
- TNP Enterprises
- Unifrax Corporation
- Unison Site Management
- United Distribution Group
- VUTEk
- Weasler Engineering
- Westward
Controversies
editAmerican Securities owns Global Tel*Link Corporation (GTL) which in 2015 had a 50% share in the $1.2 billion prison inmate telecommunications services including the controversial Inmate Calling Service (ICS).[10] With prisoners in 2012 paying up to $17 for a 15-minute call, the Federal Communications Commission scrutinized the industry.[11][12][13] In 2015 GTL sought judicial review of the FCC's regulation order aimed at lowering the cost of ICS.[14]
References
edit- ^ a b "Our Firm | American Securities". American Securities. Retrieved 2017-01-06.
- ^ "American Securities Capital Partners Announces Final Closing Of Private Equity Fund At $650 Million", American Securities, July 18, 2001, retrieved September 29, 2016
- ^ "Michael G. Fisch", Bloomberg, 2016, retrieved October 1, 2016
- ^ Our Firm American Investors
- ^ "American Securities LLC Closes American Securities Partners VI, L.P. at More Than $3.6 Billion: Sixth Fund Exceeds Target of $3 Billion and Previous Fund by More Than 50%", American Securities LLC, June 26, 2012, retrieved October 1, 2016
- ^ "Terms of Use", American Securities, archived from the original on 2013-12-18, retrieved 2016-09-29
- ^ "Home | Ascribe Capital". Ascribe Capital. Retrieved 2017-01-06.
- ^ "Companies | American Securities". American Securities. Retrieved 2017-01-06.
- ^ https://www.american-securities.com/en/companies#?status= past
- ^ Walsh, Ben (June 10, 2015), "Prisoners Pay Millions To Call Loved Ones Every Year. Now This Company Wants Even More", Huffington Post, retrieved September 29, 2016
- ^ "American Securities Completes Acquisition of Global Tel*Link", American Securities, December 15, 2011
- ^ Shields, Tod (October 4, 2012), "Prison Phones Prove Captive Market for Private Equity", Bloomberg
- ^ Inmate Telephone Service, Washington, DC: Federal Communications Commission, August 10, 2016, retrieved September 29, 2016
- ^ "Global Tel*Link Expresses Grave Concern with Proposed FCC Decision on Inmate Calling Services: Order Ensures All Parties Lose, Company will Pursue Stay of FCC decision", Global Tel*Link, 14 September 2015