American Capital and its affiliated funds have received $129 million in debt and equity proceeds, subject to post-closing adjustments, of which $127 million was received by American Capital. American Capital’s compounded annual rate of return earned on its senior debt, subordinated debt and equity investments since the first quarter of 2007 was 11%, including interest, dividends and fees earned over the life of its investment.
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"American Capital is proud of its role in building Paradigm Precision into a leader of precision machined aerospace engine parts," said Myung Yi, Senior Vice President and Managing Director, American Capital Special Situations Group. "American Capital has been fortunate to partner with an outstanding management team, which has driven Paradigm Precision’s growth and successful expansion into global markets."
"Over the course of our investment, Paradigm built a strong position in all key and next-generation engine platforms," said Yaniv Zief, Vice President, American Capital Special Situations Group. "We believe that Paradigm Precision is a great addition to Dynamic Precision Group’s business."
Paradigm Precision is a leading and premier global supplier of precision aerospace components for jet engine manufacturers. Based in Peabody, Massachusetts with additional facilities in Malden, Massachusetts; East Berlin, Connecticut; Tempe, Arizona; Guaymas, Mexico, and; Tunis, Tunisia; Paradigm Precision is a manufacturer of highly complex, close tolerance parts and assemblies used mainly in aircraft engine and industrial gas turbines. In addition to working with all of the major turbine engine original equipment manufacturers, the company also supplies parts used in land-based power generation and other specialty applications.
During the first half of 2007, American Capital and an affiliate invested in Paradigm Precision for the One Stop Buyouts® of Smith West Inc. ("Smith West"), Palmer Manufacturing Co. Inc. ("Palmer") and Eurocast S.A. ("Eurocast"), leading manufacturers of precision machined aerospace engine components. In addition, in September 2008, American Capital invested in Paradigm Precision to support the acquisition of TM Industries, Inc., a high-precision machining company that specializes in machining large size, highly technical parts for customers in the aerospace, power generation, oil and gas and defense markets.
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