Key Developments For American Capital, Ltd.
American Capital, Ltd. (ACAS.O) (Nasdaq)
American Capital Ltd. Receives $66 Million In Proceeds From Sale of Imperial Supplies To W.W. Grainger, Inc.
American Capital Ltd. announced that on October 13, it has completed the sale of its portfolio company Imperial Supplies Holding Inc. to W.W. Grainger, Inc. American Capital received $66 million in proceeds and realized a loss of $5 million during the fourth quarter from the transaction, subject to post closing adjustments.
American Capital Ltd. Receives $15 Million in Proceeds from Sale of Equity in HomeAway
American Capital Ltd. announced that on September 3, 2009, it completed the sale of its remaining equity investments in its portfolio company HomeAway Inc., fully exiting the company. American Capital received $15 million in proceeds realizing a $4 million gain during the third quarter from the transaction. The sale was made to a broad group of existing HomeAway investors.
Grainger PLC Announces Acquisition Of Imperial Supplies, LLC From American Capital Ltd.
Grainger PLC announced it has signed and closed an all cash acquisition of Imperial Supplies, LLC from American Capital, Ltd.. No other terms of the agreement were disclosed. Imperial is a national distributor of quality maintenance products and aftermarket components for the vehicle and fleet industry. The business will continue to operate as Imperial Supplies, LLC under Grainger's Specialty Brands business and will be led by Rob Gilson, Imperial's CEO.
American Capital Ltd. Announces Closure Of European Capital Financial Services' Frankfurt Office
American Capital Ltd. announced the closure of its Frankfurt affiliate. The closure of the Frankfurt office is in response to the global downturn in the private equity markets over the past two years. The assets originated by the Frankfurt office of European Capital will continue to be owned by European Capital Limited and continue to be managed by the London branch of ECFS, headed by Nathalie Faure Beaulieu.
American Capital Ltd. Receives $182 Million In Proceeds From Sale Of Axygen Bioscience
American Capital Ltd. announced that on September 15, it completed the sale of its portfolio company Axygen BioScience Inc., including its subsidiaries Axygen Inc. and Sorenson BioScience Inc., to Corning Incorporated for approximately $400 million.
