NEW YORK, Aug 12, 2004 -- ACI Capital Co., Inc. and American Securities Capital Partners, LLC, both New York City-based private-equity investment firms, announced today that they have agreed to acquire certain business assets of Phillips Health from Phillips International in partnership with Phillips Health's existing management team. Terms of the transaction were not disclosed. The investment firms have indicated that they do not envision any changes in management or operations.
Phillips Health is a leading provider of health education newsletters, nutritional supplements and other related health merchandise. Phillips International is a Potomac, Md.-based publishing company that provides products and services for the health and investment marketplaces.
ACI Capital is a private investment firm with nearly 50 years of history leading middle-market management buyouts and growth capital investments across a broad spectrum of industries throughout North America. Today, the firm manages capital on behalf of more than 70 high net worth families and institutions. For more information, please visit http://www.acicapital.com.
American Securities Capital Partners ("ASCP") began as a family investment office founded in 1947 by the late William Rosenwald to manage his share of his family's Sears Roebuck fortune. ASCP is currently investing its third private-equity investment fund with outside investors -- primarily high net worth families and individuals -- and manages more than $1 billion of equity capital on a discretionary basis. For more information, please visit http://www.American-Securities.com.