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American Capital Invests $41 Million in One Stop Buyout™ of Pacific Handy Cutter
Bethesda, MD – January 18, 2007 – American Capital Strategies Ltd. (Nasdaq:ACAS) announced today that in the fourth quarter of 2006 it and an affiliate invested $41 million in the One Stop Buyout™ of Pacific Handy Cutter Inc. (“PHC”), a leading designer, manufacturer and marketer of branded razor cutting tools with enhanced safety features for the store supply and safety market. American Capital’s investment takes the form of a senior term A loan, senior and junior subordinated debt and equity. American Capital is also providing a revolving credit facility. American Capital Equity Fund I LLC (“ACE”), a fund managed by American Capital, provided 30% of the equity investment. Post close, American Capital and ACE will own approximately 78% of PHC, on a fully diluted basis. [more...]
