Equus II Incorporated Announces Sale of Alenco
May 20 2004 - 10:00AM
PR Newswire (US)
Equus II Incorporated Announces Sale of Alenco HOUSTON, May 20
/PRNewswire-FirstCall/ -- Equus II Incorporated today announced the
completion of the sale of Alenco Holding Corporation for
approximately $11 million, with $9.7 million paid at closing and
$1.3 million deposited in an escrow account payable over the next
three years, pending certain representations and warranties. "The
Fund is pleased with its return from our investment in Alenco,"
stated Sam P. Douglass, Chairman and Chief Executive Officer of
Equus. "We are now adequately funded to pursue an aggressive
investment program over the next three years. As part of this
Fund's investment strategy, we will also continue to review
opportunistic sales of our existing portfolio to allow for new
investment opportunities." "The Alenco management team has done an
outstanding job in taking a difficult situation and bringing it to
maturity for the shareholders," continued Mr. Douglass. "We commend
them and wish them the best going forward." Alenco Holding
Corporation manufactures aluminum and vinyl windows in two plants,
one in Bryan, Texas and one in Peachtree City, Georgia, for single
and multi-family residential purposes. Alenco distributes its
products through a network of over 200 customers in twenty states.
Equus II is a business development company and seeks to generate
current distributions of net investment income and long-term
capital gains by making equity-oriented investments in small to
medium-sized privately owned companies. The current portfolio
consists of investments in 14 businesses in various industries and
two venture capital firms. Information on Equus II Incorporated and
other Equus entities may be obtained on the Internet. The company's
home page address is http://www.equuscap.com/ . "Safe Harbor"
Statement Under the Private Securities Litigation Reform Act of
1995: This press release contains certain forward-looking
statements which involve known and unknown risks, uncertainties or
other factors not under the Fund's control which may cause the
actual results, performance or achievement of the Fund to be
materially different from the results, performance or other
expectations implied by these forward-looking statements. These
factors include, but are not limited to, those disclosed in the
Fund's periodic filings with the Securities and Exchange
Commission. CONTACT: HANK NICODEMUS (713) 529-0900 DATASOURCE:
Equus II Incorporated CONTACT: Hank Nicodemus of Equus II
Incorporated, +1-713-529-0900 Web site: http://www.equuscap.com/
Copyright
Equus Total Return (NYSE:EQS)
Historical Stock Chart
From Jun 2024 to Jul 2024
Equus Total Return (NYSE:EQS)
Historical Stock Chart
From Jul 2023 to Jul 2024