Capital Raising

Customized Solutions. Superior Execution.
Unparalleled Results.

Western Reserve is highly regarded in the market for our creative approach to capital solutions, having directly executed over 100 capital raising assignments that have raised in excess of $8 billion of private capital for our clients.  Unique to Western Reserve is our advisory driven, capital market neutral approach to capital raising.  We focus on our client’s financial and strategic objectives and develop a capital markets solution that best fits their needs.  Western Reserve’s professionals are in regular contact with key players across multiple capital markets, allowing us to provide our clients with timely market insight and keen advice.

Western Reserve’s capital raising advisory services include:

CAPITAL STRATEGY

  • Refinancing and recapitalization
  • Growth capital
  • Acquisition financing
  • Credit tenant lease (“CTL”) transactions
  • IPO advisory
 CAPITAL MARKET

  • Senior Debt
    • Banks
    • Institutions
    • Hedge Funds
    • Opportunistic Funds
  • Mezzanine Capital
    • Funds
    • Institutions
    • Hedge Funds
  • Private Equity
  • Public Equity

Western Reserve assists clients in creating capital structures that support their strategic growth and liquidity objectives.  In assisting our clients, we base our advice on an in-depth understanding of the business and the markets in which it operates, the financial objectives of the owners and current capital markets conditions.  With a network of over 200 institutional investors across a variety of capital markets, we can access the most flexible, cost efficient capital available in the market.

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Representative transactions

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    Cimarron Central LLC

    Western Reserve acted as exclusive financial advisor to Cimarron Central LLC in its formation and capitalization as a result of the merger of Cimarron Gas Processing Equipment Company, Inc. and Central Tank of Oklahoma, Inc.

    Cimarron Gas and Central Tank had worked together for more than ten years, Cimarron Gas as the designer and marketer of separation and dehydration equipment to oil and gas customers and Central Tank as the manufacturer.  The merger of the two companies formalized the historic relationship and created a unified management organization and consistent ownership structure.

    Western Reserve worked with the leadership of Cimarron Central to find the best financing package to refinance existing debt, provide liquidity for the selling Central Tank shareholders and finance ongoing general corporate financing requirements.  Western Reserve helped Cimarron Central develop a capital raising strategy, identify potential lenders and negotiate the structure and terms of the financing.  Cimarron Central closed a transaction with National City Bank, a leading middle market lender located in Cleveland, Ohio, in October 2005.  The combined company was well positioned and fully capitalized to dominate the oil and gas separation and dehydration equipment market in the Rocky Mountain region.

    In August 2007, Western Reserve acted as exclusive financial advisor to Cimarron Central in its sale to Linx Partners.  Cimarron Central’s Chief Executive Officer John Moore said, “Western Reserve has been a very special partner of Cimarron as we’ve executed our financial and operating strategy. They have been and will continue to be a trusted financial advisor to us as we look to grow our business over the next few years.”

    . . .

    The testimonials presented are applicable to the individuals depicted and may not be representative of the experience of others.  The testimonials are not paid and are not indicative of future performance or success.

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    Superior Production LLC

    Western Reserve acted as exclusive financial advisor to Superior Production, LLC (d/b/a The Superior Die, Tool and Machine Company) in its recapitalization by PNC Bank National Association and KeyBank National Association.

    Founded in 1914 and headquartered in Columbus, Ohio, Superior is a 3rd-generation, family-owned business providing quality-certified stampings, assemblies and tool and die sets to a variety of industrial markets.  The company operates out of two facilities in Columbus that comprise more than 355,000 square feet of manufacturing and warehouse space.  Superior maintains a broad range of presses, mills and lathes, positioning it to manufacture and machine large steel components and tool and die sets for companies such as Honda, General Motors, MTD Products and Whirlpool.

    As a result of the recent economic recession, Superior’s balance sheet restricted the opportunity to grow with its customers and continue its strategy of further end market diversification.  Western Reserve introduced the company to a broad range of financial investors and senior debt providers and assisted Superior in negotiating key structural and financial terms with numerous parties.  In February 2011, the company refinanced its Senior Secured Revolving Credit Facility and Senior Secured Term Loan with its existing bank group, consisting of PNC Bank National Association and KeyBank National Association.

    Dick Holstein, Chief Executive Officer of Superior, said, “We are very pleased to have a long-term financing arrangement in place and are very appreciative of the excellent work by Western Reserve.  This commitment by the banks positions our company to maintain our strong relationships with our existing customers and expand into new markets.”  

    . . .

    The testimonials presented are applicable to the individuals depicted and may not be representative of the experience of others.  The testimonials are not paid and are not indicative of future performance or success.

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    Weston, Inc.

    Western Reserve acted as exclusive financial advisor to Weston, Inc. in its formation of a real estate joint venture with Blue Vista Capital Management.

    Weston is a Solon, Ohio based commercial real estate company established by Tony Asher in 1972 that offers acquisition, leasing and management services. At the time of the transaction, Weston’s portfolio had grown to more than 10 million square feet of industrial, office and retail space in more than 75 properties in nine states. The company managed each of its industrial properties and maintained relationships with 450 tenants primarily in the Midwest and Southeast.  Weston was growing quickly and was poised for geographical expansion and diversification.

    Western Reserve was engaged by Weston to advise in their formation of a joint venture, and in May 2008, Weston established the joint venture with Blue Vista.  Founded in 2002 and based in Chicago, Illinois, Blue Vista co-invests with acquirers and developers of all real property types across the U.S. and in select international markets. The joint venture acquired value-added industrial real estate in Spartanburg and Greenville, South Carolina, as well as other parts of the U.S. These properties were well-positioned to capitalize on the dynamics surrounding the transportation, distribution and logistics markets.  The transaction provided Weston with outsized returns generated from the negotiated joint venture promote structure, as well as an equity partner to execute its “value-add” strategy in Upstate South Carolina.

    Edward Asher, Principal at Weston, said, “The Western Reserve team was with us every step of the way and did a terrific job in working through the many details of the transaction.”

    . . .

    The testimonials presented are applicable to the individuals depicted and may not be representative of the experience of others.  The testimonials are not paid and are not indicative of future performance or success.

     

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    Reese Central Wholesale, Inc.

    Western Reserve acted as exclusive financial advisor to Reese Central Wholesale, Inc. in its recapitalization by Bank of America Business Capital.

    Reese is a leading distributor of roofing, siding and other building products in the state of Indiana.  The company is headquartered in Indianapolis, Indiana and also operates eight other branches throughout the state.  Reese’s products are used in a variety of applications, including new home construction, replacement roofing and large commercial projects.

    Western Reserve worked with Reese’s senior management team and advisors to refinance the company’s existing credit facilities and recapitalize the business.  The new capital structure was comprised of a senior secured revolving facility and term loan and enabled Reese to refinance existing indebtedness and establish access to additional capital to finance continued growth of the company.

    John Reese, Chief Executive Officer and primary owner of Reese, commented, “We were very pleased with both the strategic and technical advice Western Reserve provided us in executing this transaction.  Their expertise and dedication from start to finish resulted in a well-structured and flexible financing for our company.”

    . . .

    The testimonials presented are applicable to the individuals depicted and may not be representative of the experience of others.  The testimonials are not paid and are not indicative of future performance or success.

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    Ferchill Group

    Western Reserve acted as exclusive financial advisor to The Ferchill Group in its sale of its Bridgeside Point property to The Inland Group.

    Headquartered in Cleveland, Ohio, The Ferchill Group is a real estate development and management firm, acquiring, developing or redeveloping real estate assets, including office buildings, full-service and limited-service hotels and residential projects, in Cleveland, Akron, Buffalo, Detroit, New York and Pittsburgh.

    At the time of the transaction, Bridgeside Point, valued at $31.5 million, contained the premier wet lab space in the Midwest.  It was anchored by Cellomics, who occupied the facility on a 15-year, triple net lease basis, but enlisted the University of Pittsburgh Medical Center and the Pittsburgh Lifesciences Greenhouse as interim subtenants for its unutilized space.  Bridgeside Point is located in close proximity to Carnegie-Mellon University and the University of Pittsburgh and represented one of the shining examples of the emergence of Pittsburgh in the medical and technology fields.

    Bridgeside Point was acquired by The Inland Group in November 2005.  Inland, headquartered in Oak Brook, Illinois, is one of the nation’s largest commercial real estate and finance groups, specializing in creating, developing and operating companies that provide real estate services, as well as developing and operating real estate-related investment funds to support those efforts.  The transaction provided The Ferchill Group with valuable capital for deployment in its numerous other development projects.

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    Giltz & Associates

    Western Reserve acted as exclusive financial advisor to Giltz & Associates Inc. in the formation of a commercial real estate joint venture with Harbert Management Corporation.  This transaction represented the firm’s second engagement by Giltz, as Western Reserve advised the company in its 2005 operating partnership unit exchange with Cedar Shopping Centers, a public REIT.

    Giltz, based in North Canton, Ohio, develops, acquires, leases and manages retail and residential real estate throughout the Eastern U.S.  At the time of the transaction, Giltz had developed 3 million square feet of real estate over the previous ten years, the majority of which had been in the form of Discount Drug Mart anchored retail centers throughout Ohio.

    Western Reserve was engaged by Giltz to advise in their formation of a joint venture, and Giltz partnered with Harbert in June 2007.  Harbert, based in Birmingham, Alabama, manages funds for itself, institutions and high-net-worth individuals in a variety of platforms, including commercial real estate.  The joint venture developed approximately 20 shadow-anchored retail shopping centers – centers that draw upon retail traffic from a nearby anchored center – primarily in the Southeastern U.S.  The transaction provided Giltz with outsized returns generated from the negotiated joint venture promote structure, as well as an equity partner to build Giltz’s retail business.

    Harry Giltz, Chairman of Giltz, said, “The Western Reserve team delivered on everything we had hoped for in this transaction.”

    . . .

    The testimonials presented are applicable to the individuals depicted and may not be representative of the experience of others.  The testimonials are not paid and are not indicative of future performance or success.

  • Island One3

    Island One, Inc.

    Western Reserve acted as financial advisor to Island One, Inc. in its reorganization by Timeshare Acquisitions LLC.

    Island One, based in Orlando, Florida, is one of the largest privately-held timeshare developers in the U.S.  At the time of the transaction, the company had grown from a single site to an organization that had acquired, developed and re-developed nine properties in Florida and the U.S. Virgin Islands.  Island One’s affiliate, Club Navigo, allowed customers to gain access to a larger network of 29 affiliate resorts.

    Initially engaged in 2009, Western Reserve represented Island One in a pre-bankruptcy recapitalization process and eventually a Chapter 11 bankruptcy case.  During bankruptcy, Western Reserve executed both a bankruptcy recapitalization process and a fee for service sale process, producing the chosen reorganization partner, Timeshare Acquisitions LLC.  Timeshare Acquisitions LLC is a holding company owned and formed by a hedge fund to acquire the reorganized equity interest in Island One.  Western Reserve collaborated with the existing creditors and the reorganization partner to develop an innovative solution that was satisfactory to the bankruptcy court.  Island One retained operation of its eight resorts in Florida and divested of certain other inventory and assets, and the company’s executive team remained intact.

    Deborah Linden, Board Co-Chair of Island One, said, “Western Reserve was instrumental in finding and maintaining the interest of a capital partner that understands the industry and can integrate and implement our growth strategy.  For the past 20 months, the team has provided great service and advice, helping our company to arrive at the best possible outcome for all vested parties.  We are now financially and structurally well-positioned to capitalize upon a very deliberate strategy for growth.”

    . . .

    The testimonials presented are applicable to the individuals depicted and may not be representative of the experience of others.  The testimonials are not paid and are not indicative of future performance or success.

     

     

  • Simbionix4

    Simbionix USA Corporation

    Western Reserve acted as exclusive financial advisor to Simbionix USA Corporation in its September 2008 $7 million private placement of Series C Convertible Preferred Stock.  The lead investor was River Cities Capital Funds, and co-investors included Early Stage Partners LLC, a current Simbionix shareholder.

    Simbionix, headquartered in Cleveland, Ohio, is the world’s leading provider of innovative and effective virtual reality simulation products and solutions for clinical education and training of medical professionals.  The company’s products, which are protected by 20 global patents and pending and provisional applications, accelerate best-practice medical training, advance clinical performance and improve patient safety.  In addition to its Cleveland operations, Simbionix has a world-class R&D facility in Lod, Israel and e-learning operations in Denver, Colorado.

    River Cities Capital Funds, based in Cincinnati, Ohio, is one of the most active and experienced venture funds investing in the Midwest and Southeastern U.S.  Early Stage Partners, based in Cleveland, Ohio, provides venture capital financing to the Midwest’s most promising early stage technology companies.

    Simbionix Chief Executive Officer Gary Zamler said, “We cannot be more pleased with Western Reserve’s thoughtful advice in structuring the transaction and best approach to the market.  Their effort in arranging this financing in a very difficult market was outstanding.  We look forward to a long relationship with Western Reserve as we execute our strategic plan.”  

    . . .

    The testimonials presented are applicable to the individuals depicted and may not be representative of the experience of others.  The testimonials are not paid and are not indicative of future performance or success.

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    Technical Consumer Products Inc.

    Western Reserve acted as exclusive financial advisor to Technical  Consumer Products, Inc. (“TCP”) in the arrangement of a $30 million senior secured revolving credit facility provided by PNC Business Credit.

    Headquartered in Aurora, Ohio, TCP is the leading provider of energy efficient lighting products in North America.  The company is the largest supplier of compact fluorescent light bulbs (“CFLs”) in the U.S. and Canada and offers an extensive product line including cold cathode, linear and high bay systems, exit and emergency lighting, high intensity discharge lamps and LED products.  Many of the best lighting brands in the world rely on TCP to provide the most cost-effective and energy efficient lamps and accessories for their name brand and private label offerings.

    The company engaged Western Reserve to consummate a refinancing of its existing credit facility with a new financial partner.  Western Reserve conducted a highly efficient and comprehensive marketing process while fielding numerous questions about TCP’s complex business.  In December 2009, TCP chose PNC as the company’s financial partner, who supplied a $30 million senior secured revolving credit facility.