American Capital Receives $60 Million From The Sale Of Lifoam
Holdings And Generates An 11% Return On Its Investment
BETHESDA, Md., Jan. 17, 2013 /PRNewswire/ -- American
Capital, Ltd. (Nasdaq: ACAS) ("American Capital") announced today
that its portfolio company Lifoam Holdings, Inc. ("Lifoam") was
sold to Jarden Corporation ("Jarden") (NYSE: JAH) on December 31, 2012. American Capital
received $60 million in debt and
equity proceeds and realized a gain of $14
million, subject to post-closing adjustments. American
Capital's compounded annual rate of return earned on its debt and
equity securities over the life of its investment was 11%,
including interest, dividends, capital gain and
fees.
"American Capital's investment in Lifoam produced an attractive
return for our shareholders," said Brian
Graff, American Capital Senior Vice President and Senior
Managing Director. "We continue to search for new investment
opportunities in a variety of business sectors, either as the sole
investor in a One Stop Buyout® or with a sponsor in support of a
private equity buyout."
Lifoam is a manufacturer and distributor of expandable
polystyrene ("EPS") and polyurethane ("PUR") products for consumer,
healthcare and commercial applications. Lifoam's products
include foam picnic coolers, reusable ice and freeze packs and
sophisticated protective and thermal packaging products.
"As a leader in each of its consumer, healthcare and commercial
products business segments, Lifoam has demonstrated consistent and
strong earnings growth even throughout the recession," said
Jim Gregory, American Capital
Principal, Buyouts Group. "American Capital has been
fortunate to partner with an exceptional management team, which has
driven Lifoam's growth and successful expansion into the highly
attractive healthcare cold chain packaging market. We believe
that Lifoam is a great addition to Jarden's business and will
benefit from being part of the Jarden family."
Since American Capital's 1997 IPO through the third quarter of
2012, the company has earned a 10% compounded annual return,
including interest, dividends, fees and net gains, on over 340
realizations of senior debt, subordinated debt, equity and
structured products investments, totaling $18 billion of committed capital. American
Capital earned a 27% 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/Pages/our_portfolio/exited.aspx .
ABOUT AMERICAN CAPITAL
American Capital 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 $18.6 billion of assets, including assets on its
balance sheet and fee earning assets under management by affiliated
managers, with $118 billion of total
assets under management (including levered assets). From its
eight offices in the U.S. and Europe, American Capital and its affiliate,
European Capital, will consider investment opportunities from
$10 million to $750 million.
For further information, please refer to
www.AmericanCapital.com.
This press release contains forward-looking statements. The
statements regarding expected results of American Capital are
subject to various factors and uncertainties, including the
uncertainties associated with the timing of transaction closings,
changes in interest rates, availability of transactions, changes in
regional, national or international economic conditions, or changes
in the conditions of the industries in which American Capital has
made investments.
Contact:
Brian Graff,
Senior Vice President and Senior Managing Director
Dustin Smith, Managing Director,
Buyouts Group
Jim Gregory, Principal, Buyouts
Group
212-213-2009
SOURCE American Capital, Ltd.