PRESS RELEASE DATED SEPTEMBER 27, 2001
Published on October 10, 2001
EXHIBIT 99.1
PHILADELPHIA, Sept. 27/PRNewswire/ -- Allied Capital Corporation (NYSE: ALD -
news) and SunSource Inc. (Amex: SDP & SDP.PR) reported today that Allied Capital
completed the acquisition of SunSource Inc. ("SunSource" or the "Company") on
September 26, 2001. As previously announced, Allied Capital will pay $10.375 per
SunSource common share for all of the outstanding common equity of SunSource.
As a result of the merger, the common stock of SunSource Inc. has been delisted
from trading. Common Shareholders will shortly be receiving instructions for
redeeming their common stock in the form of a Letter of Transmittal from the
exchange agent for the transaction. The Company's trust preferred securities
will remain outstanding, and will not be converted or exchanged and will
continue to trade on the Amex under the symbol SDP.PR. As a result of the
outstanding trust preferred securities, SunSource will continue to file
quarterly reports with the SEC pursuant to the Exchange Act of 1934.
About Allied Capital
Allied Capital is the nation's largest business development company, and
provides long-term investment capital to support the expansion of growing
middle-market companies. The company provides mezzanine debt and equity
financing, and also participates in the real estate capital markets as an
investor in commercial mortgage-backed securities. The company is headquartered
in Washington, DC. For more information, please visit the web site at
www.alliedcapital.com, or call Allied Capital Investor Relations toll-free at
(888) 818-5298, or e-mail Allied at ir@alliedcapital.com.
About SunSource Inc.
SunSource Inc. has two principal businesses, one focused on retail markets and
the other on industrial customers. The retail business is comprised of The
Hillman Group, Inc., including its Axxess Technologies subsidiary, which sells
to hardware stores, home centers, pet suppliers, mass merchants, and other
retail outlets principally in the U.S., Canada, Mexico and South America. Their
product line includes thousands of small parts such as fasteners and related
hardware items, keys, key duplication systems, and identification items such as
tags, letters, numbers, and signs. Services offered include design and
installation of merchandising systems and maintenance of appropriate in-store
inventory levels.
SunSource serves the industrial market with two companies. SunSource Technology
Services provides engineering, repair, and fabrication services as well as parts
and equipment to manufacturers throughout the U.S. and Canada. The Company's Kar
Products affiliate distributes maintenance and repair parts and offers
customized inventory management services to commercial and industrial customers
of all sizes in the U.S. and Canada.