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FOR IMMEDIATE RELEASE:
December 19, 1997
AMERICAN CAPITAL STRATEGIES CO-INVESTED IN CHURCHILL ESOP CAPITAL PARTNERS
BETHESDA, Md., Dec. 17 /PRNewswire/ -- American Capital Strategies, Ltd. (Nasdaq:ACAS) announced today that it has co-invested with Churchill ESOP Capital Partners, a Minnesota Limited Partnership, in Senior subordinated notes of Westwind Holdings, Inc. Westwind Holdings, Inc. is an affiliate of The Westwind Group, which is the third-largest franchisee of Burger King restaurants in the U.S., with 124 stores in Minnesota, Florida, Oregon and North Carolina. The North Carolina operations were acquired in October 1997. American Capital invested $3.553 million, making them equal partners with Churchill in Westwind's subordinated debt.
Adam Blumenthal, Executive Vice President of American Capital, said: ``We are pleased to be associated with this fast growing and dynamic food service company. We believe that their professionalism, marketing sophistication, and quality of operations will lead them to future growth, and we are looking forward to being part of that growth. And we are very excited about investing with our friends at Churchill.''�
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