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GREER, SOUTH CAROLINA, Jul. 26, 2006 – The management team of Advanced Composite Materials, LLC is pleased to announce that it successfully completed a management buyout of the company on July 26, 2006.
Advanced Composite Materials, LLC (ACM) was a wholly owned subsidiary of Tateho Chemical Industries Company, Ltd. of Ako, Japan since it was acquired in 1987 following its divestiture from Atlantic Richfield Company in 1986. ACM is a world leader in silicon carbide technology, and sells products such as Silar® single crystal silicon carbide across the globe. More than one half of ACM’s sales are exported outside of the United States.
For the past 19 years, ACM has operated as an autonomous organization within Tateho Chemical, driving all aspects of strategic planning, product development, engineering, marketing, sales, and production within ACM’s core competencies.
ACM’s management team engaged and partnered with a number of private investors, including Eagle Fund I, L.P., a licensed Small Business Investment Company managed by Bush O'Donnell Capital Partners of St. Louis, Missouri, to acquire all outstanding shares of Advanced Composite Materials Corporation from Tateho Chemical effective July 26, 2006. As a result, the company name was officially changed to Advanced Composite Materials, LLC.
ACM’s management team and investors believe that ACM is well-positioned for growth and opportunity in its core areas of focus in specialty inorganic materials.
About Bush-O’Donnell
Bush O'Donnell is a holding company headquartered in St. Louis with interests in investment management, insurance, manufacturing and private equity investments. Since 1988 its principals have been investing in a wide range of publicly and privately owned businesses. One of Bush O’Donnell’s wholly owned subsidiaries, Bush O’Donnell Capital Partners, manages Eagle Fund I, L.P., a Small Business Investment Company with committed capital of $75 million. Eagle Fund invests from $1 million to $4 million in the mezzanine debt and equity securities of companies with compelling business plans.
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