American Securities

Last updated
American Securities LLC
Company type Private
Industry Private equity
Founded1994;30 years ago (1994)
FounderMichael G. Fisch
Headquarters 590 Madison Avenue
New York City, New York, U.S.
Products Private equity funds, Leveraged buyouts
AUM $26 billion (2023)
Website www.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 owner of Sears, Roebuck and Co.

Contents

History

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

Current investments

Investments as of 2021: [8]

Previous investments

Previous investments as of 2021. [9]

Controversies

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]


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References

  1. 1 2 "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