American Capital, a Bethesda, MD-based private equity firm, has acquired Cambridge Major Laboratories, committing $212 million in the transaction. Cambridge had been a portfolio company of Arlington Capital Partners prior to American's investment. A global pharmaceutical chemistry service provider, Cambridge produces intermediates and active ingredients to the pharmaceutical and biotechnology industries. The fresh capital will allow CML to continue growing its core chemistry service business and expand into complementary spaces in the life sciences industry. American's investment took the form of debt, and preferred and common equity. Jefferies & Company served as Cambridge's sole financial advisor on the deal.