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ASAP Industries, LLC, Houma, LA, has been acquired by American Capital, Ltd. (Nasdaq: ACAS), a private equity firm based in Bethesda, MD, for $89 million. ASAP is a manufacturer of high-pressure flow control products for the global oil and gas industry.
The acquisition of ASAP expands the American Capital Energy and Infrastructure Group's portfolio of domestic mid-market energy-related companies.
"With its broad product lineup, leading position in the Gulf Coast region, strong reputation, well-established customer relationships and significant organic growth opportunities, ASAP is an excellent fit for the American Capital Energy and Infrastructure Group," said Darrin Winn, senior vice president and senior managing director, American Capital.
In 2012, American Capital announced an initiative to make investments in global energy infrastructure assets, including power generation facilities, power distribution and transmission networks, energy transportation assets and fuel production opportunities, with a commitment of $200 million for such investments.