Thursday, January 08, 2009

Small Smiles Investor Receives Bail Out Money

Cit Group received 2.33 Billion in Bail Out (TARP) money according to the website.

Since I have never professed to understand the complicated maneuvers FORBA/Small Smiles made in late 2006 I'm not going to even try to explain the relationship between Cit Group and FORBA/Small Smiles other than to quote an article from

November 20, 2006 3:37 PM EST

American Capital Strategies Ltd. (Nasdaq: ACAS) has invested in Small Smiles Holding Company LLC, a holding company formed to acquire Sanus Holdings Inc., a leading dental practice management company. American Capital's investment takes the form of senior subordinated debt, holding company PIK notes and common equity and supports the acquisition of Sanus by affiliates of Arcapita Inc. and the Company's senior management.
A syndicate led by CIT Group Inc. (NYSE: CIT) has arranged a revolving credit facility and a senior term loan. The Company's management team and private investors are investing in the equity of Small Smiles.

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