Boston, MA 05/07/2014 (wallstreetpr) – American Capital Ltd. (NASDAQ:ACAS), the publicly traded non-governmental equity firm with a total asset of $19 billion, ‘received $54 million from the sale of Speciality Brands of America (SBA) and gathered a 17% return on its investment’.
Company received $54 million:
The News released on May 5, 2014 states that the parent to the ‘Speciality Brands of America’, the financial business BCCK Holdings was sold to a manufacturer, marketer as well as distributor of qualitative branded stable food, B&G Foods. American Capital and its associate received a total amount of $93 million in equity. However, the realized gain was of $60 million from the transactions (on the post-closing adjustments). Out of the entire earnings, American Capital Ltd. (NASDAQ:ACAS) received $54 million in equity and realized a gain of about $35 million from the transactions (on the post-closing adjustments).
Senior Managing Director says:
It should be mentioned that American Capital also acquired $20 million of dividend income and accrued gains over its investment tenure. The senior managing director of American Capital, Brain Graff stated that the investment in SBA showed the company an excellent result. The company’s story was surely commendable that how excelled in the packaged food industry.
ACE III for lower middle market:
On May 6, 2014, American Capital has entered into a progressive agreement with a group of investors. This agreement will help the company in establishing American Capital Equity III, LP (‘ACE III’), a new private equity fund. The new fund will focus on the lower middle market investments. It is expected that the fund will close within 90 days.
CEO said:
The CEO and Chairman of American Capital Ltd. (NASDAQ:ACAS), Malon Wikus, expressed heartfelt thanks to the investors to sign an agreement of ACE III. He added that this will help the company to expand as well as diversifying the business and enhance the assets. The investor group will provide a total of $445 million fund to purchase new equity and equity associated investments.
