Astrodyne Gets Investment

Bethesda, MD-based American Capital Strategies Ltd. has invested $31 million in the buyout of Taunton, MA-based Astrodyne Corp., a manufacturer/marketer of AC/DC power supplies and converters. American Capital’s investment takes the form of a senior term loan, senior subordinated debt, and convertible preferred equity. American Capital also provided a revolving credit facility. American Capital now owns 81% of Astrodyne on a fully diluted basis.

“Astrodyne is a niche player within the power electronics industry. The company’s brand recognition, focus on small, customized orders, extensive product offering, rapid delivery fulfillment, and catalog ubiquity distinguishes it from competition and positions it for continued growth,” American Capital principal Jon Isaacson said in a statement. “We’re looking forward to working with management to add value through various strategic initiatives.”

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