American Capital (ACAS) has sold its portfolio company Pacific Handy Cutter, a maker of commercial cutting tools, to Levine Leichtman Capital Partners.
Pacific Handy Cutter is a designer, manufacturer and marketer of safety cutters, utility knives, blades, and other accessories used in commercial backroom operations in the grocery, retail, quick serve restaurant, and industrial warehouse end markets. Brand names include Safety Cutter, Pacific Handy Cutter, QuickBlade, and the Utility Knife series. The company was founded in 1950 and is headquartered in Costa Mesa, CA (www.go-phc.com).
Pacific Handy Cutter was acquired by ACAS in December 2006. Over the term of ownership the firm realized a return of 1.8x its investment and generated a compounded annual rate of return of 9.8%.
American Capital (NASDAQ: ACAS) is a publicly traded private equity firm and asset manager that originates, underwrites and manages investments of $10 million to $750 million in lower and middle market private equity, leveraged finance, real estate and structured products. Founded in 1986, American Capital has $77 billion in total assets under management and has eight offices in the US, Europe and Asia. The firm is headquartered in Bethesda (www.AmericanCapital.com).
Levine Leichtman manages approximately $7 billion of capital through private equity partnerships, distressed debt and leveraged loan funds. The firm is based in Los Angeles with offices in Chicago, Dallas, New York, London and The Hague (www.llcp.com).
© 2016 Private Equity Professional • Private Equity’s Leading News Magazine • 5-18-16
