Jul
15JZ Capital Sells Stake In AC TECH, Invests In Justrite
Tagged Under : Ac Tech, Jz Capital, Tech
LONDON — JZ Capital Partners Limited Monday said it has sold its stake in U.S.-based chemical products maker AC TECH, which has been acquired by multinational conglomerate, 3M Co. .
JZCP said it received $18.2 million from the sale, netting 5.6 times the cash it put into the deal in 2001.
JZCP also announced a further co-investment for its portfolio, buying a stake in Illinois-based safety container maker Justrite Manufacturing Company. JZCP co-invested with Baird Capital Partners alongside Justrite’s management.
The deal means JZCP now has 42 investments in its portfolio which comprise U.S. and European micro cap companies.
“AC TECH was part of our legacy portfolio which has almost been fully realized,” said David Zalaznick, JZCP’s founder and investment adviser.
“Our investment in Justrite Manufacturing complements our existing portfolio very well. We remain well positioned to take advantage of the ongoing opportunities in the micro cap market in both the U.S. and Europe,” he added.
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