American Capital invests in California Pellet Mill
March 01, 2003
by Emily Buckley
BETHESDA, MARYLAND, U.S. — American Capital Strategies Ltd. recently announced it had invested U.S.$24.3 million to support the recapitalization of CPM Acquisition Corp., doing business as California Pellet Mill, a global supplier of process machinery for the animal feed and oilseed processing industries.
American Capital has invested more than U.S.$500 million in middle market companies in the last 12 months.
"With increasing worldwide meat and vegetable oil consumption, the demands for animal pelleting and oil extraction equipment are … on the rise," said American Capital Principal Ken Jones. "With eight international locations and an extensive installed base of its products, California Pellet Mill is well-positioned to supply the increasing demands of the global marketplace."
With world headquarters in Waterloo, Iowa, U.S., California Pellet Mill introduced a commercially successful pellet mill for the production of animal feeds in 1931. The company now manufactures a complete line of machinery for the animal feed and oilseed extraction industries, including pellet mills, flaking equipment, spare parts, dies and shells under three brand names — CPM, Roskamp and Champion.
CPM has more than 300 employees and eight locations in North America, Europe and Asia.