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AMES UNIT TO FIRST AMERICAN CAPITAL AND MANAGEMENT GROUP

 AMES UNIT TO FIRST AMERICAN CAPITAL AND MANAGEMENT GROUP
 NEW YORK, Jan. 27 /PRNewswire/ -- First American Capital, c.v., has


joined with the management of Mathews & Boucher (M&B) and others in acquiring the business and assets of M&B from Ames Department Stores.
 As a wholly owned subsidiary of Ames, the previously profitable M&B had been in bankruptcy for 22 months. Prior to the filing, the company had experienced a decade of growth in both revenues and profit. The transaction, involving both U.S. and overseas investors, was put together by Smith McDonnell Stone & Co., Inc., investment bankers and advisors to First American Capital.
 The announcement was made jointly by Paul M. Smith, chairman of Smith McDonnell Stone, and Richard Howk, president of Mathews & Boucher.
 Mathews & Boucher distributes fishing tackle, shooting sports supplies, archery and camping equipment, and marine supplies. It is one of the industry's largest distributors, servicing more than 3,800 retailers in 49 states and Canada.
 M&B was founded in the 1880s as a hardware wholesaler and distributor. In the 1950s, the merchandise emphasis shifted to sporting goods, especially firearms. In 1972, M&B was acquired by Neisner Brothers. In the six years prior to acquisition by Ames, the company expanded and diversified its merchandise into fishing equipment.
 The operation of the company, which involves 95 employees, will remain essentially the same, according to Howk, who has been president since 1972. During his tenure, annual revenues increased from $600,000 to $37 million.
 First American Capital is a Netherlands Antilles limited partnership actively engaged in seeking acquisitions of private middle market companies. A minority interest in Mathews & Boucher has been taken by China Investment Development Co., Ltd., a Taiwan investment company.
 -0- 1/27/92
 /CONTACT: Paul M. Smith, chairman of Smith McDonnell Stone, 212-750-7780, or Douglas Hearle of Osgood Global Group, 212-922-9626, for First American Capital/ CO: First American Capital ST: New York, Connecticut IN: SU: TNM


CK -- NY070 -- 3808 01/27/92 13:40 EST
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Date:Jan 27, 1992
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