Financial Asset Management Systems Inc Operation News

							Financial Asset Management Systems Inc Operation News



It has emerged that American Capital has invested $98 million as one stop buyout for the reputed and leading
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Financial Asset Management Systems Inc. Back in 3 March, 2006, Bethesda, MD of American Capital Strategies
Ltd (Nasdaq:ACAS) announced that the company invested $98 million in 20005 as payment for purchasing FAMS.
The American capital Investment took the documents of the gyrating credit company, senior and junior
subordinated equity and debt and senior term debt. FAMS president and CEO, Jim Paxton; FAMS Senior Vice
President, Jerry Hogan; and a number of other major senior management personnel own minority equity
investment from the company. The American capital holds 79% ownership of FAMS when the ownership is fully
diluted.

The American’s Capital, COOO Ira Wagner praised the ability of American’s Capital to implement the One Stop
Buyout of the reputed and leading debt collection company since hat was one step ahead for developing this
company to become the leading niche player in the industry. He also claimed that they were pleased in getting an
opportunity to invest in the fast developing company based in fast growing industry.

Figures are showing that just a year after the American Company investment company acquired Financial Asset
Management Systems, it has invested about $3.2 billion without including the unfunded capital commitment of
the company.

The American Capital Managing Director Jon Isaacson said that they are creating a management team that is
seasoned in the debt collection practice as well as excellent history of team work. He also observed that FAMS has
been developing at the rate it is at the moment as a result of the stable revenue base, leading industry
fundamentals and reputation of efficiency and quality services.

Another remark that was made by the American Capital Principle, Sean Eagle, pointed out that FAMS has excellent
opportunities for expanding its customer base. The kind of FAMS business and its non-fixed cost structure helps to
protect it from extreme adverse effects that may arise from economic trend shifts.

The company was established in 1993 and has a labor force of more than 500 people. The headquarters of the
organization are located in Atlanta, Georgia. The company is composed of three facilities located in different
geographical zones to serve a wide customer base.

FAMS is also divided into two main divisions where one of the units specializes in retrieval of defaulted student
loans for US department for Education under a chain of long term contracts while the other is dedicated to
collecting delinquent consumer receivables for some telecommunications, banking, municipal government and
banking customers.