American Capital, Ltd.
) declared the divesture of its portfolio company Pan Am
Holdings, Inc. and its subsidiaries, including Pan Am
International Flight Academy, Inc. to ANA Holdings Inc. - the
parent company of All Nippon Airways Co. Ltd. The company and its
affiliated funds received $94 million for the deal in debt and
equity income and recognized a profit of $12 million, inclusive
of post-closing adjustments.
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Of the proceeds, American Capital received $79 million from the
deal and earned a gain of $7 million, subject to post-closing
adjustments. The company has earned 16% compounded annual rate of
return over the life of its investment, including interest, gains
Earlier in Jul 2006, American Capital invested in One Stop Buyout
of Pan Am. Based in Miami, Fla., Pan Am International Flight
Academy offers airlines and individual training on over 60
full-flight simulators along with courses for Pilots, Cabin Crew,
Mechanics and Aircraft Dispatchers. Primary customers for the
company include commercial passenger airlines and air freight
carriers, along with air traffic control authorities globally.
American Capital directly and through its asset management
business, initiates, underwrites and manages investments in
middle-market private equity, leveraged finance, real estate and
structured products. Since its IPO in 1997 through the second
quarter of 2013, the company has earned 26% compounded annual
return on the exit of its equity investments, including
dividends, fees and net gains.
American Capital carries a Zacks Rank #5 (Strong Sell). Some
better performing stocks in the same industry include
Hercules Technology Growth Capital, Inc.
Marlin Business Services Corp.
MCG Capital Corporation
). All the 3 companies carry a Zacks Rank #2 (Buy).