Deal List

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DEALS BY INDUSTRY

DEALS BY SERVICES

  • AC Material Handling Corp.

    Capital Goods

    Manufacturer of industrial lift trucks and lift truck parts

    Acquired: Lift Truck Division (Mattison, IL) of Allis Chalmers Corp. (Milwaukee, WI)

  • Addison Products Company and WeatherKing Corporation

    Capital Goods

    Manufacturers and marketers of residential unitary heating and cooling equipment

    Sold to: Rheem Manufacturing (New York, NY), a subsidiary of Paloma Ltd. (Tokyo, Japan)

  • Advance Mixer Inc.

    Capital Goods

    Manufacturer of front discharge concrete mixer trucks

    Sold to: The Prince Group (Grand Rapids, MI)

  • Advanced Hydro Solutions LLC

    Capital Goods

    Developer of hydro-electric facilities and redeveloper of existing dam facilities in North America

    Provided financial advisory services

  • Allied Corporation (Bendix Industrial Group subsidiary)

    Capital Goods

    Multi-plant designer and manufacturer of custom and standard machine tools

    Sold to: Cross & Trecker Corporation (Detroit, MI)

  • Allied Corporation (Comau Spa subsidiary)

    Capital Goods

    Designer and manufacturer of machine tools, assembly machines, automation equipment and robotics

    Sold 30% interest to: FIAT Spa (Torino, Italy)

  • American Augers Inc.

    Capital Goods

    Manufacturer of directional drilling machines and auger boring drills

    Sold to: Astec Industries (Chattanooga, TN)

  • American Precision Industries Inc.

    Capital Goods

    Multi-national manufacturer of high performance precision motion control products and systems and heat transfer equipment

    Sold to: Danaher Corp. (Washington, DC); provided fairness opinion

  • Avtron Industrial Automation Inc. (portfolio company of Morgenthaler Private Equity)

    Capital Goods

    Provider of highly engineered control and automation products and solutions for heavy industries

    Sold to: Nidec Corporation (Kyoto, Japan)

    Avtron Industrial Automation Inc. (portfolio company of Morgenthaler Private Equity)

    Western Reserve served as the exclusive investment banker to Avtron Industrial Automation Inc. (“AIA”), a portfolio company of Morgenthaler Private Equity (“Morgenthaler”), in its sale to Nidec Corporation (“Nidec”).  The transaction closed on September 28, 2012 and was led by Managing Director Joseph Carson and Vice President Matthew Mueller of the Industrial Group, supported by Associate Matthew Reus and Analyst Gregory Hill. Previously, Western Reserve represented Avtron in its original sale to Morgenthaler in 2007.

    Headquartered in Independence, Ohio, AIA is a leading provider of highly engineered control and automation solutions for heavy industries where operational uptime and throughput are critical to customers’ profitability.  The company’s encoder products, drive systems solutions and service offerings are key components for the precise control of the motion of heavy industrial equipment.  Applications include: oil and gas drilling rigs, port cranes and hoists, mining shovels and draglines, maritime vessel propulsion systems and continuous mill machinery such as steel rolling mills and paper machines.

    “We were delighted to represent AIA’s shareholders and to work with the management team on this transaction,” said Mr. Carson.  “With Morgenthaler’s backing, AIA has achieved a strong record of growth and developed a market leading position in industrial encoder products and drive system solutions.  The combination with Nidec represents a powerful partnership and is a great outcome for both companies.”

    Dennis Anderson, AIA’s President, stated, “Western Reserve’s strategic direction was critical for our management team in navigating the sale process, which resulted in the right strategic partner for us. We are excited to combine our deep engineering expertise and North American market presence with Nidec’s operations and global reach.”

    Of working with Western Reserve, Peter Taft, Partner at Morgenthaler Private Equity, said, “We are very pleased with the guidance Western Reserve provided us in executing this transaction.  Their expertise and dedication to consummating the transaction resulted in a very favorable outcome.”

    Morgenthaler is a leading private equity and venture capital firm with nearly $3 billion under management.  For over 40 years, the firm has dedicated to helping build value in more than 300 companies. With private equity locations in Cleveland, OH, and Boston, MA, Morgenthaler focuses on the lower-middle market with transaction values between $25 – $150 million and EBITDA in excess of $5 million. The private equity firm makes investments in profitable, family and entrepreneur businesses and corporate divestitures in two sectors: highly-engineered manufacturing and business services.

    Founded in 1973, Nidec is a manufacturer and distributor of electric motors and related components and equipment with headquarters in Kyoto, Japan.  The company provides discrete and variable speed motors and pumps, electronic motor controls and other electronic components. Nidec comprises over 160 consolidated and affiliated subsidiaries, with over 100 manufacturing and sales locations in 24 countries with more than 105,000 employees.

    . . .

    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.

  • Avtron Manufacturing, Inc.

    Capital Goods

    Designer and manufacturer of highly technical electrical control and test equipment for a range of industries

    Sold to: Morgenthaler Partners (Cleveland, OH)

    Avtron Manufacturing, Inc.

    Western Reserve acted as exclusive financial advisor to Avtron Manufacturing, Inc. in its recapitalization by Morgenthaler Partners.

    Avtron, headquartered in Independence, Ohio, designs, engineers and manufactures highly technical electrical control and test equipment for several industries including aerospace, metals, mining, pulp and paper and alternative energy.  The Company operates in three divisions: Aerospace, Industrial Automation and Load Banks.  The Aerospace Division manufactures test equipment for airplane components.  The Industrial Automation Division manufactures encoders and industrial automation systems used in various manufacturing and heavy industrial applications.  The Load Bank Division manufactures equipment to test back-up power generators and alternative energy sources.

    The shareholders of Avtron engaged Western Reserve as its exclusive investment banker to assist in exploring the sale of the company to achieve liquidity and initiate a succession plan for senior management.  Western Reserve introduced Avtron to a select group of buyers, assisted in negotiating the terms and conditions of the deal and helped draft the definitive purchase agreement.

    Avtron was recapitalized by Morgenthaler in November 2007.  Based in Cleveland, Ohio, Morgenthaler is a private equity firm specializing in middle market investments.  Through a complex deal structure, which maximized the value paid to shareholders, Avtron created three separate LLCs that were subsequently acquired by Morgenthaler Partners.  The shareholders of Avtron reinvested, side-by-side, with Morgenthaler to retain a significant ownership interest in the company and share in the economic benefit of the company’s future growth potential.  They continue to manage the business.

    Bob Fritz, President and Chief Executive Officer of Avtron, said, “Western Reserve went beyond my concept of what was included in marketing a company.  During crucial stages in the deal process, Western Reserve not only advised us on what needed to be done, but stepped in and did it.”

    . . .

    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.

  • Baker Hughes Inc.

    Capital Goods

    Provides consulting, drilling, completions, pressure pumping and production products and services to the oil and gas industry

    Sale leaseback of the company's corporate headquarters

  • Bettcher Industries (Stein Associates Inc. subsidiary)

    Capital Goods

    Manufacturer of food preparation equipment for fish

    Sold to: Frigoscandia Contracting, AB (Helsingsborg, Sweden)

  • Bevcorp LLC (subsidiary of Enprotech Corp.)

    Capital Goods

    Provider of equipment and equipment services to the beverage industry

    Acquired: FCI, Inc. (Cleveland, OH)

    Bevcorp LLC (subsidiary of Enprotech Corp.)

    Western Reserve Partners served as the exclusive investment banker to Bevcorp LLC in its acquisition of FCI, Inc. Western Reserve initiated the transaction, including identifying and contacting FCI on behalf of Bevcorp and assisted in the evaluation and negotiation of the transaction.

    Bevcorp, based in Willoughby, Ohio with additional operations in Kennesaw, Georgia,  is a full-service provider of can and bottle fillers, blenders, crowners, cappers, handling equipment, rinsers, refrigeration equipment and deaeration systems for customers in the carbonated soft drink, beer, water, juice, energy drink and non-carbonated beverage industries.  Bevcorp is a subsidiary of Enprotech Corp.

    Established in 1958, Cleveland, Ohio based-FCI is a leading manufacturer of aftermarket change parts to the beverage industry and supplier of specialized industrial parts.

    Chris Pascarella, Bevcorp’s President, commented, “We truly appreciate the hard work and dedication Western Reserve Partners provided at all stages of the transaction.  The guidance and advice provided by Western Reserve was essential to our successful completion of this acquisition.”

    . . .

    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.

  • Bevcorp LLC (subsidiary of Enprotech Corp.)

    Capital Goods

    Provider of equipment and equipment services to the beverage industry

    Acquired certain assets of: Adcor Packaging Group LLC (Baltimore, MD)

    Bevcorp LLC (subsidiary of Enprotech Corp.)

    Western Reserve Partners served as the exclusive financial advisor to Bevcorp LLC in its acquisition of certain assets of Adcor Packaging Group LLC. Bevcorp has acquired the beverage filling intellectual property and inventory assets of Adcor.  The acquisition also allowed Bevcorp LLC to become the owner of the OEM technology to provide customers OEM quality filling equipment and parts manufactured using original Crown Cork & Seal and Crown Simplimatic intellectual property.

    Bevcorp, headquartered in Willoughby, Ohio, is a leading manufacturer of American-made, high-speed, hot and cold bottle and can fillers, MicroBlend blenders and container handling equipment for the beverage industry. Bevcorp provides additional manufacturing in Kennesaw, Georgia and is a subsidiary of Enprotech Corp.

    Chris Pascarella, Bevcorp’s President, said, “I appreciate the guidance Western Reserve provided throughout this transaction process.  With Western Reserve’s assistance, we will continue to pursue strategic acquisitions that will enable Bevcorp to expand our engineering, sales and services to our global customer base.”

    . . .

    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.

  • Blaw Knox Corporation (Hupp Company and DCM Corp. subsidiaries)

    Capital Goods

    Manufacturers of fuel-fired vehicle heaters, custom air conditioners and fractional horsepower DC motors

    Sold to: Sunderland Holdings Corp.

  • Brittany Stamping

    Capital Goods

    Manufacturer of stamped metal products for the automotive, heavy-duty truck, HVAC and refrigeration industries

    Sold certain assets to: North American Stamping Group LLC (Ontario, Canada)

  • Bronx International Inc.

    Capital Goods

    Provider of steel & non-ferrous mill finishing equipment

    Sold to: Fives Group (Paris, France)

    Bronx International Inc.

    Western Reserve acted as exclusive financial advisor to Bronx International Inc. in its sale to the Fives Group.

    Headquartered in North Canton, Ohio, Bronx is comprised of two distinct businesses: 1) Bronx / Bronx Taylor Wilson, which produces equipment that straightens, finishes or tests pipes, bars and tubes (notably seamless tubes) and 2) Abbey, which produces Electrical Welding (ERW) tube and pipe mills that are used to produce tubular welded products.

    Widely recognized for its unmatched experience and technologies, the company offers its customers state-of-the-art design and engineering, project management, global procurement, field service, installation and turnkey solutions.  Bronx’s direct customers are steel and non-ferrous bar, pipe and tube producers within the steel sector, which include large blue-chip industrial groups. End-users of the company’s products belong to a large base of various industries, including oil and gas, high speed rail and energy transportation.  Bronx boasts a consistent record of product innovation, engineering leadership, reliable quality and the largest base of installations for its products in the industry.

    Bronx’s shareholders elected to explore a sale of the company to achieve liquidity and retained Western Reserve as its exclusive investment banker to assist in the process.  Western Reserve confidentially introduced Bronx to a range of financial and strategic buyers and assisted the company in navigating a series of issues and negotiating key transaction terms.

    Bronx was acquired by Fives in November 2010.  Headquartered in Paris, France, Fives is an industrial engineering group that designs and supplies process equipment, production lines and turnkey plants for the world’s largest industrial groups in the aluminum, steel, glass, automotive & logistics, cement, energy and sugar sectors. With over EUR 1.0 billion in sales, more than 5,500 employees on six continents and located in nearly thirty countries, Fives is known for its technological expertise and competence in executing large-scale international projects. The cross-border transaction was completed on an accelerated time frame, resulting in a successful outcome for the Company’s shareholders, and the expansion of Five’s metal finishing offerings and end-markets.

    Richard Jeschelnig, President and Chief Executive Officer of Bronx said, “The team at Western Reserve did an outstanding job in advising us throughout all phases of this process.  Western Reserve’s keen understanding of the capital equipment business, our business model and the competitive landscape, together with their expertise and perseverance in guiding us through myriad issues, as well as ability to access international opportunities, were essential in delivering superior value to our shareholders. This combination with Fives represents the best strategic outcome for our company and its owners.” 

    . . .

    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.

  • Bryan Steam Corporation

    Capital Goods

    Manufacturer of specialized water tube boilers

    Sold to: Burnham Corporation (Lancaster, PA)

  • Capitol Technologies Inc. (Bankruptcy Estate of Grabill Corporation)

    Capital Goods

    Designer and manufacturer of machine tools, dies and fixtures

    Financial advisor for the company in its parent's Chapter 11 case; sold to HCT Acquisition, Inc. (South Bend, IN)

  • CARCO S.R.L.

    Capital Goods

    Manufacturer of customized large-diameter sealing solutions for heavy industrial applications

    Acquired: Polymer Concepts Technologies, Inc. (Apple Valley, CA)

    CARCO S.R.L.

    Western Reserve Partners announced that it served as the exclusive financial advisor to CARCO S.R.L. (“Carco”) in its acquisition of Polymer Concept Technologies, Inc. (“PCTI”). Western Reserve provided Carco with a customized buy-side process, including building a pipeline of candidates, engaging prospects, valuing the businesses, conducting due diligence, negotiations and closing. The acquisition of PCTI represents Carco’s first manufacturing location in the U.S.

    Headquartered in Apple Valley, California, PCTI is an industry leading designer and manufacturer of polymer seals for the aerospace, industrial and defense markets. PCTI’s polymer seals are utilized in applications which operate under extreme temperature and friction conditions and require enhanced performance compared to conventional elastomeric sealing solutions. With over 20 years of experience, PCTI maintains a nationally recognized standard for quality, earning the Company AS 9100C and ISO 9001:2008 certifications.

    Founded in 1900 and headquartered in Milan, Italy, Carco is a leading manufacturer of customized large-diameter sealing solutions for heavy industrial applications. Carco has built a global and growing presence with four locations worldwide. The Company produces rubber, metal and thermoplastics sealing solutions for the metal forming, marine, hydropower, windpower and tunnel boring industries.

    “Western Reserve’s team provided an incredible amount of insight and assistance throughout this process. The team was helpful, responsive and ensured that we achieved the desired result. I’m looking forward to getting the next one done with them,” said Andrea Chalp, President of Carco.

    “The acquisition of PCTI was a critical first step in Carco’s growth plan. The complementary cultures, products and markets of these two companies make for a great combination and we are honored to have been able to help make it happen,” said Mr. Mariano.

    . . .

    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.

  • Carlisle Construction Company Inc.

    Capital Goods

    Provider of excavation equipment and crane rental services

    Sold to: Anthony Crane Rental Holdings, L.P. (Pittsburgh, PA)

  • Carpenter Body Works Inc.

    Capital Goods

    Manufacturer of school bus bodies

    Financial advisor for the company in its Chapter 11 case; sold to CBW, Inc. (Mitchell, IN)

  • Challenger Wrecker Manufacturing Inc. (Bankruptcy Estate of Grabill Corporation)

    Capital Goods

    Company involved in engineering and fabrication of wrecker vehicles

    Financial advisor for the company in its parent's Chapter 11 case; sold to: B&B Industries, Inc. (Norcross, GA)

  • Chart Industries Inc.

    Capital Goods

    Supplier of standard and custom-engineered products and systems

    $68 million follow-on offering of common stock

  • Chart Industries Inc.

    Capital Goods

    Supplier of standard and custom-engineered products and systems

    $49 million initial public offering of common stock

  • Chemitrol Chemical Co.

    Capital Goods

    Manufacturer of large propane and ammonia tanks

    Sold to: Harsco Corporation (Camp Hill, PA)

  • Cimarron Central LLC

    Capital Goods

    Designer, manufacturer and marketer of gas processing equipment

    Sold to: Linx Partners (Scarsdale, NY)

    Cimarron Central LLC

    Western Reserve acted as exclusive financial advisor to Cimarron Central LLC in its sale to Linx Partners.  This transaction represented the firm’s second engagement by Cimarron, as Western Reserve assisted the company its 2005 formation and capitalization.

    Headquartered in Guymon, Oklahoma, Cimarron designs, engineers and manufactures a line of mission critical, highly engineered equipment, systems and services used in the production and processing of natural gas.  The company’s product lines include production and process separators, natural gas dehydrators, combination separator/dehydrator units and specialty items.  Cimarron’s equipment is specifically designed and manufactured to work within the extreme conditions and requirements of the Rocky Mountain Region.

    Cimarron’s shareholders decided to explore a sale of the company to achieve partial liquidity and identify a financial partner supportive of their growth strategy.  Cimarron retained Western Reserve as its exclusive investment banker to assist in the process, and through a highly competitive process, Western Reserve marketed the company to a select group of financial and strategic buyers, facilitated the negotiation of the transaction price and helped draft the purchase agreement.

    Cimarron was acquired by Linx in August 2007.  Based in Scarsdale, New York, LINX is a private equity investment firm that partners with management to acquire and grow middle-market industrial companies.  Key members of Cimarron’s senior management team partnered with Linx in its investment and remain significant shareholders of the company.

    John Moore, Cimarron’s Chief Executive Officer, 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.

  • Cimarron Central LLC

    Capital Goods

    Designer, manufacturer and marketer of gas processing equipment

    Merger of Cimarron Gas Processing Equipment Company, Inc. (Guymon, OK) and Central Tank of Oklahoma, Inc. (Marlowe, OK) and capitalization of new entity

    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.

  • Cleveland Machine Controls Inc.

    Capital Goods

    Manufacturer of industrial drives, drive systems and sensors

    Sold to: International Motion Control Corp. (Orchard Park, NY)

  • Cohesant Technologies, Inc. (GlasCraft subsidiary)

    Capital Goods

    Protection and renewal of water systems, manufacturer of plastics equipment and specialty coatings

    Provided fairness opinion and tax appraisal in sale of GlasCraft subsidiary to Graco, Inc. (Minneapolis, MN) and spin off of CIPAR subsidiary to current shareholders

    Cohesant Technologies, Inc. (GlasCraft subsidiary)

    Western Reserve provided a fairness opinion to the Board of Directors of Cohesant Technologies, Inc. in the divestiture of its GlasCraft subsidiary to Graco Inc.

    Cohesant Technologies, Inc. (AMEX: COHT), through its subsidiaries, engages in the protection and renewal of drinking water distribution systems and wastewater collection systems for municipal, industrial, commercial and residential infrastructure.  Cohesant’s GlasCraft subsidiary manufactures and distributes equipment for applying materials such as fiberglass, polyurethane foam and industrial protective coatings.

    The Board of Directors of Cohesant reached a definitive agreement for the sale of its GlasCraft subsidiary to Graco Inc. (NYSE: GGG), a leading provider of fluid handling systems and components.  Western Reserve was engaged to provide Cohesant’s Board of Directors with a fairness opinion regarding the sale, along with a valuation for tax purposes, of the remaining subsidiaries of Cohesant that were spun-out to the shareholders.  The transaction was consummated in February 2008.

  • Computational Systems Inc.

    Capital Goods

    Developer and provider of highly engineered predictive maintenance equipment and services

    $22 million initial public offering of common stock

  • Computational Systems Inc.

    Capital Goods

    Developer and provider of highly engineered predictive maintenance equipment and services

    Sold to: Emerson Electric Company (St. Louis, MO); provided fairness opinion

  • CWS Industries (Mfg) Corp.

    Capital Goods

    Manufacturer of attachments, cabs and conversions for heavy equipment used in the mining, oil and gas, forestry, agriculture and construction industries

    Sold to: International Equipment Solutions, LLC (Oakbrook, IL), a portfolio company of KPS Capital Partners, LP (New York, NY)

    CWS Industries (Mfg) Corp.

    Western Reserve served as the exclusive investment banker to CWS Industries (Mfg) Corp. (“CWS”) in its sale to International Equipment Solutions, LLC (“IES”), a portfolio company of KPS Capital Partners, LP (“KPS”).

    Headquartered in Surrey, British Columbia, Canada, CWS is a leading manufacturer of top-quality attachments, cabs and conversions for heavy equipment used in various high-growth end markets such as mining, oil and gas, forestry, agriculture and construction.  CWS offers both standard and highly-engineered attachments for excavators, loaders, crawlers and other heavy equipment.  Through its extensive knowledge of its customers’ applications and geological conditions, CWS provides attachments and fully integrated equipment systems tailored to the specific needs of its customers, which are able to withstand some of the world’s harshest environments.

    Formed in September 2011, IES is a global engineered equipment platform serving the construction, agriculture, landscaping, infrastructure, recycling, demolition, mining and energy markets. IES’s operating units are leading manufacturers of engineered attachment tools and cab enclosures for operator driven equipment as well as locomotive sub-assemblies and electronic enclosures. IES’s customers include major OEMs, national rental fleet companies and hundreds of independent and OEM-aligned dealers. IES employs over 2,800 people and operates 17 manufacturing facilities in the United States, Canada, Germany and Brazil.

    Earl Hirtz, CWS President, will continue to serve in the same capacity along with CWS’s existing management team.  “We are excited about this very strategic partnership with IES and look forward to working together as we continue to expand CWS’s presence globally.  With its unmatched manufacturing and product capabilities, IES is able to provide substantial additional resources and is committed to assisting CWS in expanding its product and service offerings worldwide,” said Mr. Hirtz.

    Leading the transaction for Western Reserve was Managing Director Joseph Carson, supported by Vice President Rebecca White and Analyst Courtney Downs.

    “CWS and IES are a very strategic fit and create a strong global provider of attachments and integrated equipment systems,” said Mr. Carson.  “We enjoyed working with CWS throughout this process and are very pleased with the outcome for its shareholders.  We have worked with the company for several years through the sale of its non-core subsidiary, LANTEC Winch & Gear Inc. and have watched CWS transform from a regional supplier of standard attachments into a global supplier of highly-engineered products.  We look forward to watching CWS take its success to the next level with its new partner.”

    Of working with Western Reserve, Ken Thompson, CWS’s majority shareholder said, “We have truly enjoyed working with Western Reserve over the past several years, through the sales of both LANTEC and CWS.  In addition to their extensive transaction experience, Western Reserve has a keen understanding of the capital equipment industry, which led to highly strategic partnerships for both businesses.  We have highly valued their guidance and support throughout the past several 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.

  • CWS Industries (Mfg) Corp. (LANTEC Winch & Gear subsidiary)

    Capital Goods

    Designs and manufactures specialized winches, hoists, planetary gear drives, brakes and clutches for the energy, construction and marine industries

    Sold to: Tulsa Winch Group (Jenks, OK), a Dover Company

    CWS Industries (Mfg) Corp. (LANTEC Winch & Gear subsidiary)

    Western Reserve acted as exclusive financial advisor to CWS Industries (Mfg) Corp. in its divestiture of its LANTEC Winch & Gear Inc. subsidiary to Tulsa Winch Group, an operating company within the Material Handling platform of Dover Corporation’s (NYSE: DOV) Industrial Products segment.

    LANTEC designs and manufactures specialized winches, hoists, planetary gear drives, brakes and clutches for the offshore drilling, oil and natural gas, construction and marine industries.  Founded in 1965 and based in Langley, British Columbia, the company competes in the markets it serves by offering superior service and design and application knowledge.

    LANTEC’s shareholders sought to divest the company from its parent company to focus on its core operations and engaged Western Reserve to assist in identifying a strategic partner for the business.

    LANTEC was acquired by Tulsa Winch Group in February 2008.  Based in Jenks, OK , Tulsa Winch Group is a worldwide leader in the manufacture of winch, gearbox and load monitoring systems serving the infrastructure, onshore oil and gas, utility, towing and recovery and marine markets. It is comprised of five companies that produce industry-specific geared and electronic solutions: Tulsa Winch Inc., dp Manufacturing Inc., Greer Company, Vancouver, B.C.-based Pullmaster Winch Corporation, and now LANTEC.

  • Dan T. Moore Company, Inc.

    Capital Goods

    R&D and acquisition entity and business incubator focused on the industrial sector

    Acquired: Delaware Machinery and Tool Company, Inc. (Muncie, IN) as the winning bid in a receivership sale

    Dan T. Moore Company, Inc.

    Western Reserve acted as exclusive financial advisor to Dan T. Moore Company, Inc. in its acquisition of Delaware Machinery and Tool Company, Inc.

    Dan T. Moore Company, Inc., founded in 1969 and based in Cleveland, Ohio, is an R&D and acquisition entity and business incubator focused on the industrial sector.

    Delaware Machinery and Tool Company, Inc., founded in 1938 and based in Muncie, Indiana, is a leader in the full service design, engineering, manufacturing, testing and sampling of highly complex tools utilized to manufacture die cast components for the automotive, defense, medical and other industrial markets.

    Delaware was placed into receivership by the Delaware County Circuit Court after defaulting with its senior lender.  Western Reserve assisted Dan T. Moore Company in rapidly preparing a bid model and developing a bid strategy.  Through numerous discussions with Delaware’s receiver, senior creditors and legal parties, Dan T. Moore Company was able to develop and present a detailed model to receive pre-approved financing  and credibly bid on Delaware’s assets.  At the December 2010 auction, Dan T. Moore Company topped the stalking horse bid and was declared the new owner of Delaware Machinery and Tool Company.

  • Data Cooling Technologies LLC (Air Enterprises division)

    Capital Goods

    Provider of large-scale commercial, institutional and industrial custom air handling solutions

    Sold to: Hickok Incorporated (Cleveland, OH)

    Data Cooling Technologies LLC (Air Enterprises division)

    Western Reserve Partners, a division of Citizens Capital Markets, Inc., served as the exclusive financial advisor to Data Cooling Technologies LLC in the divestiture of Air Enterprises Custom Air Handling to Hickok Incorporated (OTC Pink: HICKA). This divestiture enables Data Cooling Technologies to focus on KyotoCooling®, the fastest growing, mission critical data center cooling solution in North America.

    In the company’s official press release, Chairman of the Board Harry Shimp commented, “KyotoCooling has become a unique growth engine – one that demanded singular focus and attention. We are objectively and demonstrably committed to growing, supporting and partnering with leading firms that continue to adopt KyotoCooling in droves.”

    Based in Akron, Ohio, Air Enterprises is an industry-leading provider of large-scale commercial, institutional and industrial custom air handling solutions marketed under the FactoryBilt® and SiteBilt® brands worldwide. Air Enterprises partners with clients to tailor the design, engineering, manufacture and installation of its air handling solutions to meet the most demanding system configurations and requirements in both retrofit and new construction projects.

    “This divestiture will help Data Cooling Technologies achieve its strategic objectives,” said Board Member Mal Mixon. “We were pleased with Western Reserve’s commitment to delivering timely and professional service.”

    “Western Reserve was delighted to have the opportunity to work with Data Cooling Technologies on this transaction,” said Mr. Filippell. “We value our longstanding relationship with the Company’s management and shareholders.  It was an honor to serve them and we look forward to continuing to work with them in the future.”

    . . .

    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.

  • Decanter Machine, Inc.

    Capital Goods

    Manufactures and repairs screen bowl, solid bowl and hyperbaric centrifuges for mineral processing applications

    Sold to: FLSmidth & Co. A/S (Copenhagen, Denmark)

    Decanter Machine, Inc.

    Western Reserve served as the exclusive investment banker to Decanter Machine, Inc. (“Decanter”) in its sale to FLSmidth & Co. A/S (“FLSmidth”). The transaction was led by Managing Director Mark Filippell and Vice President Matthew Mueller of Western Reserve’s Industrial Group, supported by Analyst Gregory Hill. Western Reserve worked closely with Audon Partners A/S, M&A International’s Denmark affiliate, in the completion of this transaction.

    Headquartered in Johnson City, Tennessee, with additional locations in South Carolina and New South Wales, Australia, Decanter is recognized as the global leader in the manufacture and repair of screen bowl, solid bowl and hyperbaric centrifuges for mineral processing applications.  Decanter’s global market leadership is evidenced by its installed base of more than 550 centrifuges across eleven countries. The company has developed its strong market position as a result of its steadfast dedication to providing customers with the highest levels of service, developing and manufacturing the most technologically advanced equipment in the industry, and providing customers with durable, cost-effective repair solutions. Decanter primarily serves the global coal market, as well as a variety of other end markets that process a high volume of materials, including the ethanol, food processing, industrial chemical, potash, wastewater and white mineral industries.

    “Western Reserve is proud to have worked with Decanter, who over the last 30 years has done a remarkable job of developing the company into a global leader in the mineral processing industry,” said Mr. Filippell. “We are delighted we could work to form a partnership with Decanter and FLSmidth that will allow the company to continue to strengthen its position in the global market.”

    Wally Schultz, Decanter’s President, will continue to serve in the same capacity along with the company’s existing management team. “We are excited about the opportunity to join with a strategic partner that has the scale, capabilities and global leadership that FLSmidth provides. Decanter’s product line of processing equipment is a great complement to FLSmidth’s and the combination will allow FLSmidth to offer customers a complete range of centrifuge product offerings,” said Mr. Schultz. “Western Reserve did an exceptional job of providing us with insight and quality advice throughout the process. Their experience, dedication and attention to the details resulted in a very favorable outcome for our company, our employees and our shareholders. It was a pleasure to work with the Western Reserve team, and we feel fortunate to have worked with them on this transaction.”

    Founded in 1882, FLSmidth is a worldwide supplier of equipment, systems, and services with headquarters in Copenhagen, Demark. The company supplies everything from single machine units to complete minerals and cement flowsheets including associated services. It serves cement, base metals, precious metals, light metals, industrial mineral, energy, phosphate and potash, pulp and paper, chemical, food and pharmaceutical, steel, and diamond industries. FLSmidth employs over 13,800 people and has operations in over 50 countries.

    . . .

    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.

  • Dexter Magnetic Technologies (portfolio company of Hamilton Robinson Capital Partners)

    Capital Goods

    Fabricator of highly engineered magnetic assemblies

    Sold to: Levine Leichtman Capital Partners (Los Angeles, CA)

  • Drop Dies & Forgings Company

    Capital Goods

    Manufacturer of high quality, specialty forgings from difficult to forge metals serving aerospace, heavy-duty trucks, and other markets

    Sold to: Precision Castparts Corporation (Portland, OR)

  • Eagle-Picher Industries Inc.

    Capital Goods

    Diversified manufacturer of automotive, aerospace, earth moving telecommunications and pharmaceutical products including diatomaceous earth and perlite

    Financial advisor for the company in its Chapter 11 case; reorganized pursuant to plan; provided appraisal

  • Eaton Corporation (Aeroquip air conditioning & refrigeration division)

    Capital Goods

    Designer and manufacturer of specialized fluid conveyance and subassembles for air conditioners and refrigeration

    Sold to: Parker Hannifin Corp. (Cleveland, OH)

  • Electro-Mec Inc.

    Capital Goods

    Provider of repair services for industrial electric motors

    Sold to: Integrated Power Services (Greenville, SC), a portfolio company of the Riverside Company (Cleveland, OH)

  • Essef Corporation (Hobson Brothers subsidiary)

    Capital Goods

    Integrated manufacturer of plastic blow-mold tooling

    Leveraged buyout involving management (Shell Rock, IA)

  • Fives North American Combustion, Inc. (Guiding Systems Business)

    Capital Goods

    Provider of guiding technologies including engineered systems, aftermarket parts and standard hardware solutions for the web handling industry

    Sold to: Maxcess International Corporation (Oklahoma City, OK), a portfolio company of Bertram Capital (San Mateo, CA)

    Fives North American Combustion, Inc. (Guiding Systems Business)

    Western Reserve Partners served as the exclusive advisor to Fives North American Combustion, Inc., a subsidiary of France-based Fives Group, in the divestiture of its Guiding Systems Business (“GS”) to Maxcess International Corporation, a portfolio company of Bertram Capital.

    Started in 1957, GS is a leading provider of innovative guiding technologies for the web handling industry throughout North America and internationally. GS provides engineered systems, aftermarket parts and complete standard hardware solutions as well as expert field technical service to equipment requiring precise monitoring, particularly in the metals, tire & rubber and printing & textile industries.

    Based out of Oklahoma City, Oklahoma, Maxcess is a designer and manufacturer of industrial rolls, converting components and specialized machinery for web handling and converting applications. Maxcess includes the brands of Webex, Fife, Tidland and MAGPOWR.

    Ronald McCullough, President and Chief Executive Officer of FNA, commented, “We are delighted that the GS business and employees will continue to thrive and grow here in Cleveland with a strong new partner. Western Reserve did an outstanding job representing FNA and GS in structuring the transaction and ensuring a successful outcome for all.”

    . . .

    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.

  • Flo-Tork

    Capital Goods

    Manufacturer of pneumatic and hydraulic rack and pinion rotary actuators

    Sold to: Moog Inc. (East Aurora, NY)

  • Grabill Corporation

    Capital Goods

    Diversified manufacturer of automotive, industrial and consumer products

    Provided appraisal of the $104 million estate and fairness opinions for each of the 14 subsidiaries sold

  • Gradall Industries Inc.

    Capital Goods

    Manufacturer of rough-terrain, variable-reach material handlers and telescoping hydraulic excavators

    $24 million follow-on offering of common stock

  • Gradall Industries Inc.

    Capital Goods

    Manufacturer of rough-terrain, variable-reach material handlers and telescoping hydraulic excavators

    $40 million initial public offering of common stock

  • Hutchinson Mayrath (Bankruptcy Estate of TIC United Corporation)

    Capital Goods

    Manufacturer of mobile agricultural auger equipment

    Financial advisor for the company in its parent's Chapter 11 case; sold to: Global Industries, Inc. (Grand Island, NE)

  • Industrial Data Technologies Corporation

    Capital Goods

    Manufacturer of graphics-based, man-machine interface hardware and software to automate industrial processes

    Sold to: Eaton Corporation (Cleveland, OH)

  • Interstate SouthWest (portfolio company of Balmoral Advisors LLC)

    Capital Goods

    Manufacturer of large, complex forgings for the automotive, heavy machinery and energy markets

    Sold to: Ellwood Group, Inc. (Ellwood City, PA)

  • JRB Company Inc.

    Capital Goods

    Manufacturer of proprietary couplers and attachments for front end loaders and other industrial equipment

    Sold to: Attachment Technologies, Inc. (Delhi, IA), a portfolio company of Norwest Equity Partners (Minneapolis, MN)

  • Kennametal Inc.

    Capital Goods

    Manufacturer of high quality industrial cutting tools

    $120 million follow-on offering of common stock

  • Kirk and Blum Manufacturing Company

    Capital Goods

    Industrial ventilating contractor in America

    Sold to: CECO Environmental (Newark, NJ)

  • Lincoln Electric Company

    Capital Goods

    Manufacturing of electrical resistance welding equipment

    $126 million initial public offering of common stock

  • Liqui-Box Corporation

    Capital Goods

    Manufacturer of plastic dispensing and packaging systems for liquids serving the bottled water, beverage, dairy, pharmaceutical, processed food and wine industries

    Provided fairness opinion in the sale to DuPont Canada (Ontario, Canada)

  • MHP Machines Inc.

    Capital Goods

    Manufacturer of CNC machine tools

    Sold to: Hurco Companies, Inc. (Indianapolis, IN)

  • National Machinery Company

    Capital Goods

    Manufacturer of cold forging machinery

    Sold to: Citicorp Venture Capital (New York, NY)

  • NECO (Bankruptcy Estate of TIC United Corporation)

    Capital Goods

    Manufacturer of stationary agricultural grain augers

    Financial advisor for the company in its parent's Chapter 11 case; sold to: Global Industries, Inc. (Grand Island, NE)

  • Newbury Industries Inc.

    Capital Goods

    Manufacturer of vertical plastic injection molding machines

    Sold to: Heico Acquisitions (Chicago, IL)

  • Novar Electronics Corporation

    Capital Goods

    Designer and manufacturer of proprietary, state-of-the-art security and HVAC control systems

    Sold to: RTZ Corporation PLC (London, England)

  • Park-Ohio Holdings Corp.

    Capital Goods

    Diversified manufacturer and distributor

    Provided financial advisory services

  • Project Eureka (portfolio company of a leading Private Equity firm)

    Capital Goods

    Manufacturer of household products

    Sold to: A Fortune 500 Company in the Building and Consumer Products Industry

  • Project Summertime

    Capital Goods

    Manufacturer of power equipment

    Served as financial advisor and provided a valuation opinion to the Board of Directors related to redemption of company shares

  • Ransburg Corporation (Weltronic/Tecnitron Inc. subsidiary)

    Capital Goods

    Manufacturer of resistance welding controls

    Sold to: Nagoya Dengensha Co., Ltd. (Nagoya, Japan)

  • Regal Mold & Die Inc. (Bankruptcy Estate of Grabill Corporation)

    Capital Goods

    Manufacturer of plastic injection molding dies

    Financial advisor for the company in its parent's Chapter 11 case; sold to: Chikol Equities Co. (Elkhart, IN)

  • Robbins & Meyers Inc.

    Capital Goods

    Supplier of equipment and systems to pharmaceutical, energy and industrial markets

    $50 million follow-on offering of common stock

  • Robotic Vision Systems, Inc.

    Capital Goods

    Manufacturer of machine vision systems

    $89 million common stock offering

  • S-P Manufacturing Corporation

    Capital Goods

    Manufacturer of chucks and pneumatic and hydraulic cylinders

    Sold to: Figgie International (Willoughby, OH)

  • SATEC Systems Inc.

    Capital Goods

    Manufacturer of static stress testing instrumentation

    Sold to: SSI Acquisition Co. (Cleveland, OH)

  • SGS Tool Company

    Capital Goods

    Manufacturer of solid carbide and stainless steel cutting tools

    Sold to: Kyocera Corporation (Kyoto, Japan)

    SGS Tool Company

    Western Reserve Partners announced that SGS Tool Company has been acquired by Kyocera Corporation (NYSE: KYO). Western Reserve Partners served as primary facilitator to SGS in this transaction.

    Based in Munroe Falls, Ohio, SGS is a leading international manufacturer of solid carbide and stainless steel cutting tools. SGS is best known for their solid carbide high performance endmills, drills, stainless steel medical tools and subsequent PVD coatings. The majority of their business is in the U.S. with manufacturing in Wokingham, England. Greater than 30% of SGS’ sales result from exports to more than 60 countries.

    Kyocera, headquartered in Kyoto, Japan, is a leading supplier of cutting tools, industrial ceramics, solar power generating systems, mobile phones, printers, copiers, electronic components and semiconductor packages. During the year ended March 31, 2015, the company’s net sales totaled $12.7 billion. Kyocera appears on the latest listing of the “Top 100 Global Innovators” by Thomson Reuters, and is ranked #552 on Forbes 2015 “Global 2000” listing of the world’s largest publicly traded companies.

  • Somerset Technologies Inc. (European business of Cameron Machinery division)

    Capital Goods

    Manufacturer of slitting and winding machinery for paper and films

    Sold to: BM Group, Ltd. (Taunton, England)

  • Somerset Technologies Inc. (Hartig Plastics Machinery division)

    Capital Goods

    Manufacturer of heavy-duty industrial plastic blow-molding systems

    Sold to: Battenfeld Fisher GmbH (Meinerzhagen, Germany)

  • Sporran Inc. (Anvil Inc. and Canvil Ltd. subsidiaries)

    Capital Goods

    Manufacturers of specialty forged steel valves and fittings

    Sold to: Tyco Laboratories, Inc. (Exeter, NH)

  • Swagelok Company

    Capital Goods

    Designer and manufacturer of high-tech valves

    Provided financial advisory services

  • Swagelok Company

    Capital Goods

    Designer and manufacturer of high-tech valves

    Provided buy side advisory services

  • Tecumseh Products Company

    Capital Goods

    Manufacturer of compressors and condensing units for the refrigeration and air conditioning industries

    Provided strategic advisory services

  • The Robbins Company

    Capital Goods

    Developer and manufacturer of large diameter hard-rock tunnel boring machines (TBMs)

    Merged with: Northern Heavy Industries Group Co., Ltd. (Shenyang, China)

    The Robbins Company

    Western Reserve Partners announced that The Robbins Company has merged with China’s Northern Heavy Industries Group Co., Ltd. (“NHI”). Lok Home, President of Robbins, will assume the role of President of the merged enterprise. Western Reserve provided strategic advisory services to Robbins in this transaction and M&A International’s Chinese and German members, Quam Capital Limited and Angermann M&A International GmbH, provided strategic support and cross border expertise throughout the transaction.

    Headquartered in Solon, Ohio, The Robbins Company is the world’s foremost developer and manufacturer of large diameter hard-rock tunnel boring machines (TBMs). The Company also designs and manufactures continuously extending conveyors for use behind TBMs. Robbins sells its TBMs worldwide for large highway, railroad, hydroelectric and utility tunnels. The Chunnel connecting England and France was excavated using Robbins TBMs.

    Northern Heavy Industries Group Co., Ltd., headquartered in Shenyang, China, is a wholly state-owned company established through the combination of Shenyang Heavy Machinery Group Co., Ltd. and Shenyang Mining Machinery Group Co., Ltd. In 2007, NHI acquired NFM Technologies, a French TBM manufacturer, and became an international enterprise. In 2009, NHI became one of the top 500 Chinese enterprises, ranking among the top three in the Chinese heavy machinery industry. NHI manufactures approximately 7,000 products for power production, building materials, metallurgy, mining, ports, environmental protection, forging, fracturing equipment, coal machinery, transmission machinery and tunneling. NHI has complete facilities for design, test, inspection and measurement, R&D and manufacturing operations.

    Robbins President Lok Home said, “The Western Reserve team, working with their M&A International affiliates, were outstanding advisors for the Robbins Company in this merger. Their industry expertise and ability to operate effectively in China enabled us to close a very successful deal. We could not be more pleased with the outcome and the services provided by Western Reserve.”

    Western Reserve’s Mark Filippell said, “It was Western Reserve’s honor and pleasure to work with The Robbins Company. Lok Home and his team have built the world’s leading hard-rock tunnel boring machine company. Robbins’ merger with NHI, to be headed by Lok Home, will benefit Robbins, NHI and their worldwide customers.”

    . . .

    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.

  • Tokheim Corp.

    Capital Goods

    Worldwide manufacturer and servicer of petroleum dispensing systems

    Financial advisor for the unsecured creditors’ committee in the company’s Chapter 11 case; international assets sold to affiliate of AXA Private Equity (Paris, France), Gasboy assets sold to Danaher Corporation (Washington, D.C.), and Tokheim NA assets sold to affiliates of First Reserve Corp. (Greenwich, CT)

  • Trantech Radiator Products, Inc. (portfolio company of Buckingham Capital Partners)

    Capital Goods

    Manufacturer of specialty radiators and related products used in the electric power transmission and distribution industry

    Provided solvency opinion for dividend recapitalization by Key Principal Partners (Cleveland, OH)

  • Tyco International Ltd.

    Capital Goods

    Multi-national group of companies active in healthcare, flow control, security, telecommunications and electronics

    $31 million bond lease financing; issuance of secondary notes to IWW Property, LLC

  • Walbro Corporation

    Capital Goods

    Manufacturer and designer of fuel systems for automotive and outdoor power equipment

    $110 million private placement of senior notes

  • Weasler Engineering Inc. (portfolio company of Code Hennessey & Simmons)

    Capital Goods

    Manufacturer of agricultural drive lines

    Sold to: Industrial Growth Partners, LP (San Francisco, CA)

  • WI Acquisition Corp.

    Capital Goods

    Manufacturer of diesel engines for military usage

    Acquired: White Engine Co. (Canton, OH)

  • Wiseco Piston Company Inc.

    Capital Goods

    Manufacturer of high performance pistons for automotive, motorcycle, marine racing and aftermarket applications

    Sold to: Dover Diversified, Inc. (New York, NY)

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