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American Securities

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American Securities LLC
Company typePrivate
IndustryPrivate equity
Founded1994; 30 years ago (1994)
FounderMichael G. Fisch
Headquarters590 Madison Avenue
New York City, New York, U.S.
ProductsPrivate equity funds, Leveraged buyouts
AUM$26 billion (2023)
Websitewww.american-securities.com

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.

History

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William 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

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  • 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

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Investments as of 2021:[8]

Previous investments

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Previous 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

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American 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

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  1. ^ a b "Our Firm | American Securities". American Securities. Retrieved 2017-01-06.
  2. ^ "American Securities Capital Partners Announces Final Closing Of Private Equity Fund At $650 Million", American Securities, July 18, 2001, retrieved September 29, 2016
  3. ^ "Michael G. Fisch", Bloomberg, 2016, retrieved October 1, 2016
  4. ^ Our Firm American Investors
  5. ^ "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
  6. ^ "Terms of Use", American Securities, archived from the original on 2013-12-18, retrieved 2016-09-29
  7. ^ "Home | Ascribe Capital". Ascribe Capital. Retrieved 2017-01-06.
  8. ^ "Companies | American Securities". American Securities. Retrieved 2017-01-06.
  9. ^ https://www.american-securities.com/en/companies#?status= past
  10. ^ 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
  11. ^ Shields, Tod (October 4, 2012), "Prison Phones Prove Captive Market for Private Equity", Bloomberg
  12. ^ Inmate Telephone Service, Washington, DC: Federal Communications Commission, August 10, 2016, retrieved September 29, 2016
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