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American Capital Invests $13 Million in Acquisition by Montana Silversmiths
Bethesda, MD - June 29, 2005 - American Capital Strategies Ltd. (Nasdaq:ACAS) announced today it has invested an additional $13 million in its portfolio company Montana Silversmiths Inc. to support its acquisition of Big Sky Carvers LLC ("BSC"), a manufacturer and distributor of outdoor and lodge-themed woodcarvings, home accents and collectibles. Montana is a leading designer, manufacturer and distributor of accessories, jewelry and lifestyle products for the western industry. American Capital's investment takes the form of a senior term loan, senior subordinated debt and LLC membership units. American Capital has also committed additional debt financing to support anticipated growth and for other corporate purposes. Thompson Street Capital Partners is the majority owner. BSC management is rolling over their equity investment. [more...]