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American Capital Receives $244 Million from Sale of Portfolio Company Service Experts and Generates a 184% Return on Its Investment

BETHESDA, Md., May 11, 2016 /PRNewswire/ -- American Capital, Ltd. ACAS, +0.89% ("American Capital") announced today that its portfolio company SEHAC Holdings Corporation (together with its subsidiaries, "Service Experts" or the "Company") has merged with a subsidiary of Enercare Solutions Inc., a wholly-owned subsidiary of Enercare Inc. (ECI), one of Canada's largest home and commercial services companies. The total cash consideration is $340.75 million, subject to customary working capital and other post-closing adjustments. American Capital received $244 million in proceeds, including fees and assuming full collection of escrow and other holdback amounts, and realized a capital gain of $225 million from the transaction. Over the life of the investment, American Capital realized 18 times its investment in the Company and generated a compounded annual rate of return of 184%, including interest, dividends, fees and realized gains.

American Capital acquired Service Experts in a One Stop Buyout® in March 2013 (for more information, click here). Headquartered in Plano, TX, Service Experts is a leading provider of sales, installation, maintenance and repair of HVAC systems for the residential and commercial markets, operating 90 branch locations across the United States and Canada with approximately 2,800 employees and $435 million in annual sales.

"Since our investment three years ago, Service Experts has thrived under the leadership of Scott Boxer, President & CEO. The Company achieved significant growth as a result of its focus on customer service and the completion of multiple strategic acquisitions, which collectively expanded its geographical presence and service offering, and boosted revenues. We are proud to have been a part of Service Experts' success," said Myung Yi, Managing...