M&A Deal Summary

American Capital and Churchill Equity Acquire Westwind Group Holdings

On December 17, 1997, private equity firms American Capital and Churchill Equity acquired franchising company Westwind Group Holdings

Acquisition Highlights
  • This is American Capital’s 1st and Churchill Equity’s 1st transaction in the Franchising sector.
  • This is American Capital’s 5th and Churchill Equity’s 7th transaction in the United States.
  • This is American Capital’s 2nd and Churchill Equity’s 4th transaction in California.

M&A Deal Summary

Date 1997-12-17
Target Westwind Group Holdings
Sector Franchising
Buyer(s) American Capital
Churchill Equity
Deal Type Buyout (LBO, MBO, MBI)

Target

Westwind Group Holdings

San Diego, California, United States
Westwind Group Holdings, Inc. operates as a franchisee of Burger King Restaurants. The company owns and operates 47 Burger King Restaurants in Florida and Oregon. The company was incorporated in 1996 and is based in San Diego, California.

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Buyer(S) 2

Buyer

American Capital


Category Private Equity Firm
Founded 1997
PE ASSETS 22.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

American Capital was a publicly traded buyout and mezzanine investment firm. American Capital invested in buyouts, growth capital financings, acquistion financings, and recapitalizations. The Firm looked to finance businesses with at least $4 million in EBITDA and valued between $20 and $500 million. American Capital ws a generalist firm with broad interest in traditional industries such as manufacturing, distribution, and services. American Capital's European investment affiliate is European Capital. European Capital looked to invest $10 to $600 million of equity, mezzanine, and/or senior debt in similar opportunities across Europe. American Capital was formed in 1997 and in January 2017, merged with Ares Capital Management.


DEAL STATS #
Overall 5 of 265
Sector: Franchising M&A 1 of 3
Type: Buyout (LBO, MBO, MBI) M&A Deals 4 of 125
State: California M&A 2 of 47
Country: United States M&A 5 of 253
Year: 1997 M&A 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1997-12-01 BIW Connector Systems

Santa Rosa, California, United States

BIW Connector Systems, Inc. manufacturers highly-engineered patented electrical connectors and cable/connector systems for harsh and demanding environments. The Company’s connectors/cables are used in crude oil production, aircraft ground power, military, underwater, and various other applications. The end users of BIW’s products include the petroleum companies, oil field service/equipment companies, the major airlines, and the U.S. government.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1998-01-26 J.A.G. Industries

Baltimore, Maryland, United States

JAG is a unique firm for its size, having two primary lines of business: fabrication of precision metal components used by OEM's in high precision, high cost products as well as in production lines, and the manufacture of tablets and pills for non-human consumption and testing applications. The company is based in Baltimore, Maryland and its business dates to 1960.

Buy -
Buyer

Churchill Equity


Category Private Equity Firm
Founded 1987
PE ASSETS 430M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION


DEAL STATS #
Overall 7 of 19
Sector: Franchising M&A 1 of 1
Type: Buyout (LBO, MBO, MBI) M&A Deals 5 of 13
State: California M&A 4 of 8
Country: United States M&A 7 of 19
Year: 1997 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1997-09-01 Hord Crystal

Pawtucket, Rhode Island, United States

Hord Crystal Corporation manufactures rhinestone chain and findings at our facility in Pawtucket, RI since 1946. It offers its line of chains and findings set with rhinestones or cubic zirconia set in brass or sterling, or plated to the surface of choice.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1998-01-01 Timec Co.

Carson, California, United States

Timec Co., Inc. is a industrial service provider to refineries and petrochemical companies.

Buy -