NEW YORK    • (BUSINESS WIRE)    • Dec. 14, 2005    • First Atlantic Capital, Ltd., today announced that it has successfully completed the sale of Ranpak Corp., a leading maker of in-the-box packaging systems and products, to American Capital Strategies, Ltd. (Nasdaq: ACAS). The purchase price was not disclosed.

Since First Atlantic acquired Ranpak in December 2001, revenues and EBITDA have grown substantially fueled by an enhanced new product development program, including the introduction of the FillPak and FillPak TT to address new segments of the market.

"We are extremely pleased with the success of Ranpak over the past four years and believe the business is well-positioned for future growth," said Roberto Buaron, Chairman of First Atlantic Capital. "Our strategy of expanding Ranpak's product line has resulted in market share gains and substantial improvements in financial performance."

Deutsche Bank, JP Morgan Partners and Banc of America Securities served as financial advisors to First Atlantic. Kirkland & Ellis LLP served as legal advisor to First Atlantic.

First Atlantic Capital, Ltd., a New York City-based private equity investment firm with $600 million under management, specializes in acquiring and growing middle-market companies through both internal growth and add-on acquisitions. Since inception in 1989, First Atlantic has consistently generated superior long-term investment returns for its investors and management partners. First Atlantic has acquired 49 companies and consolidated them into 17 major platforms. The firm utilizes the strong strategic consulting and operating expertise of its principals to assist the management of its portfolio companies in building the acquired business. First Atlantic has major investments in the packaging, food and beverage, retail, and specialty vehicle parts industries. For additional information, please visit www.firstatlanticcapital.com.