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AAC Capital exits flooring provider Amtico to Mannington Mills

5 Mar 2012

Mid-market UK buy-out firm AAC Capital has sold high-end flooring provider Amtico to US branded flooring specialist Mannington Mills.

The company had seen a 50 per cent increase in outputs and profits since being bought by AAC in 2006 despite a rise in raw material costs and recession hitting the construction industry.

AAC UK managing partner Paul Southwell said, “This is our second successful exit within a month following the sale of Volution in February 2012.

“Both Volution and Amtico are great examples of what we do best – working with first rate management teams of UK headquartered businesses to drive domestic and international growth.

“Our investors have received another strong return in a challenging macro-economic environment.”

February’s exit of British ventilation and heat recovery business Volution to TowerBrook Capital Partners netted it a 2.4 multiple return on its initial £49.25m investment.

AAC Capital targets buy-outs with enterprise values of up to £150m, and has successfully exited 17 deals out of 26 invested in since 2000.

Amtico CEO Jonathan Duck said, “The Amtico story is a case study in what a business can achieve under private equity ownership.”

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