Stadium Capital Partners (Stadium Capital Management) appears to be aggressively growing its position in American Reprographics Co (ARC) stock

Well, yesterday on this blog, I did a post about Stadium Capital Partners’ very recent SEC Form 3 and Form 4 filings. Those filings indicated:

a) that SCP (also referred to as Stadium Capital Management or SCM) has become a “10% shareholder” in American Reprographics (ARC)

b) that SCP (SCM) is adding to its holdings of ARC shares, not decreasing its holdings of ARC shares

I noticed, this morning, that SCP (SCM) filed another Form 4, yesterday, indicating additional purchases of ARC shares. Looks like they’ve been “busy beavers”, accumulating ARC stock in chunks; big question is, how much stock will they purchase before they decide “that’s enough!” (My second big question would be, are they planning to accumulate a control position in ARC stock?)

Okay, while they are accumulating ARC stock and reporting those purchases in Form 4 filings with the SEC, I’m going to play “scorecard keeper”; here’s a table with the most recent transactions. (I’ll do my best to update the scorecard table, as additional Form 4 filings are filed.)

Table showing SCP’s (SCM”s) recent purchases American Reprographics Co shares:

Transaction Date	Purchase Price	# of Shares Purchased	# of shares owned, after purchase	%age of O/S Stock Owned
8/23/11	$3.790	30,600	4,676,921	10.12%
8/24/11	$3.876	17,991	4,694,912	10.16%
8/25/11	$3.800	244,000	4,938,912	10.69%