American Capital Ltd. sold PHC Sharp Holdings Inc. to Levine Lechtman Capital Partners on undisclosed terms.
PHC is the parent company of Pacific Handy Cutter Inc., a maker of cutting tools, which was based in Costa Mesa when American Capital bought 78% of the company in 2007 for about $41 million, and later moved to Irvine.
American Capital, a publicly traded private equity firm in Bethesda, Md., said it “realized 1.8 times its investment” in Pacific Handy Cutter, or about 10% compounded annually, indicating a sale price of $74 million to $95 million.
Pacific Handy Cutter makes razors, safety knives and box cutters available through specialty sellers that include Grainger and mass market retailers, such as Walmart and Amazon.com.
Levine Lechtman is an investment manager in Beverly Hills.
