BETHESDA, Md., May 16, 2016 /PRNewswire/ -- American Capital, Ltd. (Nasdaq: ACAS) ("American Capital") announced today that its portfolio company PHC Sharp Holdings, Inc., parent to Pacific Handy Cutter, Inc. ("Pacific Handy Cutter" or the "Company"), was sold to Levine Leichtman Capital Partners. Over the life of the investment, American Capital realized 1.8 times its investment in the Company and generated a compounded annual rate of return of 9.8%, including interest and fees.
American Capital and an affiliate invested in the One Stop Buyout® of Pacific Handy Cutter in December 2006. Pacific Handy Cutter is a leading designer, manufacturer and marketer of cutting tools with enhanced safety features designed to eliminate workplace injuries and product damage in commercial backroom operations. Along with the Company's patented flagship product the Safety Cutter (S-Series), Pacific Handy Cutter manufactures the original Pacific Handy Cutter™, QuickBlade™ Utility Knife series, and other bladed safety products and related accessories. The Company's products are relied on by a broad spectrum of blue chip customers across grocery, retail, quick serve restaurant and industrial warehouse end markets. Founded in 1950, Pacific Handy Cutter is based in Costa Mesa, CA.
Since American Capital's 1997 IPO through the first quarter of 2016, it has earned a 9% compounded annual return, including interest, dividends, fees and net gains, from realizations of senior debt, subordinated debt, equity and structured products investments, totaling approximately $28 billion of committed capital. American Capital earned a 15% 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 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 and structured products. American Capital manages $20 billion of assets, including assets on its balance sheet and fee earning assets under management by affiliated managers, with $77 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. American Capital and its affiliates operate out of six offices in the U.S. and Europe. For further information, please refer to www.AmericanCapital.com.
Helen Yang, Managing Director (212) 213-2009
Investor Relations (301) 951-5917
Media (301) 968-9400
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SOURCE American Capital, Ltd.