BETHESDA, Md., Dec. 8, 2015 /PRNewswire/ -- American Capital, Ltd. (Nasdaq: ACAS) announced today that its portfolio company Dynojet Research, Inc. ("Dynojet") was sold to Irving Place Capital and New Value Capital.
Established in 1972, Dynojet is a leading manufacturer of aftermarket performance-enhancing parts and accessories as well as diagnostic equipment for powersports vehicles, including motorcycles, ATVs, snowmobiles and automobiles. The company's product offering includes fuel management solutions that optimize engine performance and efficiency, diagnostic equipment and ignition products and coils, which are sold globally through a network of distributors and dealers. Dynojet is headquartered in Las Vegas, Nevada and maintains locations in Montana and Holland.
"American Capital has been fortunate to partner with a strong management team that has preserved Dynojet's leadership in the powersports market while driving innovation and growth," said Dustin Smith, American Capital Managing Director.
American Capital invested in the One Stop Buyout® of Dynojet in November 2007. American Capital's investment took the form of a revolving credit facility, senior term loan, senior subordinated debt and equity. For more information on American Capital's investment in Dynojet, visit: www.americancapital.com/our-portfolio/dynojet-research-inc.
Since American Capital's 1997 IPO through the third quarter of 2015, the company has earned a 9% compounded annual return, including interest, dividends, fees and net gains, on approximately 515 realizations of senior debt, subordinated debt, equity and structured products investments, totaling $25 billion of committed capital. American Capital earned a 16% compounded annual return on the exit of its equity investments, including dividends, fees and net gains.
For a chart showing a partial listing of American Capital's exited portfolio companies, please go to http://www.americancapital.com/our-portfolio/exited-companies.
ABOUT AMERICAN CAPITAL American Capital, Ltd. (Nasdaq: ACAS) is a publicly traded private equity firm and global asset manager. American Capital, both directly and through its asset management business, originates, underwrites and manages investments in middle market private equity, leveraged finance, real estate, energy & infrastructure and structured products. American Capital manages $23 billion of assets, including assets on its balance sheet and fee earning assets under management by affiliated managers, with $80 billion of total assets under management (including levered assets). Through a wholly-owned affiliate, American Capital manages publicly traded American Capital Agency Corp. (Nasdaq: AGNC), American Capital Mortgage Investment Corp. (Nasdaq: MTGE) and American Capital Senior Floating, Ltd. (Nasdaq: ACSF) with approximately $10 billion of total net book value. From its eight offices in the U.S., Europe and Asia, American Capital and its wholly-owned affiliate, European Capital, will consider investment opportunities from $10 million to $600 million. For further information, please refer to www.AmericanCapital.com.
Dustin Smith, Managing Director (212) 213-2009
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SOURCE American Capital, Ltd.