Deal List

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DEALS BY INDUSTRY

DEALS BY SERVICES

  • American Consumer Products Inc.

    Distribution; Consumer

    Distributor of keys, knives, gloves and house numbers to hardware retailers

    Sold to: Vista 2000, Inc. (Roswell, GA)

  • American Consumer Products Inc. (Sharon Fastener Company division)

    Distribution; Consumer

    Distributor of fasteners to hardware retailers

    Sold to: Pawtucket Fasteners, LP (Pawtucket, RI)

  • Brightpoint Inc.

    Distribution; Consumer

    Wireless communications distributor

    $40 million follow-on offering of common stock

  • Chemitrol Chemical Co. (Cory Orchard & Turf subsidiary)

    Distribution; Consumer

    Distributor of fertilizers and other agricultural and turf products

    Sold to: Terra International Inc. (Louisville, KY)

  • ESSCO Inc.

    Distribution; Consumer

    Distributor of vacuum cleaners and repair parts to independent vacuum dealers

    Sold to: MCM Capital Partners (Beachwood, OH)

    ESSCO Inc.

    Western Reserve acted as exclusive financial advisor to Merc Acquisitions, Inc. (d/b/a Electric Sweeper Service Company) (“ESSCO”) in its sale to MCM Capital Partners.

    ESSCO, an 81 year old business headquartered in Valley View, Ohio, is the leading wholesaler of vacuum cleaner parts and a leading distributor of vacuum cleaners to more than 3,200 of the 10,000 independent vacuum dealers in the U.S.

    As the market leader in a unique niche, ESSCO was faced with significant growth opportunities, including exclusive distribution arrangements, new brands and product lines and potential acquisitions.  Western Reserve was engaged by ESSCO to assist in identifying a suitable equity partner to help execute the company’s growth plan, and through a competitive auction process, Western Reserve introduced ESSCO to several potential financial and strategic partners, 18 of which submitted first round offers.

    ESSCO was acquired by MCM in August 2005.  Based in Cleveland, Ohio, MCM is a well-regarded financial sponsor with a recognized track record of successful investments in small growth companies.  The MCM transaction provided ESSCO’s shareholders with partial liquidity, an ongoing equity ownership in the business and a sophisticated equity partner to help execute its growth plan, all while retaining operational control.

    ESSCO President Bob Merckle said, “The entire Western Reserve team was very helpful from beginning to end and was the right group to guide us through this very important process.”

    . . .

    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.

  • ESSCO Inc. (portfolio company of MCM Capital Partners)

    Distribution; Consumer

    Distributor of vacuum cleaners and repair parts to independent vacuum dealers

    Sold to: Cardinal Equity Partners (Indianapolis, IN)

    ESSCO Inc. (portfolio company of MCM Capital Partners)

    Western Reserve served as the exclusive investment banker to MCM Capital Partners in the firm’s sale of ESSCO, the leading distributor of floor care products to independent storefront and internet retailers in the United States.  ESSCO was acquired by Cardinal Equity Partners, an Indianapolis-based private equity firm.

    Founded in 1924 and based in Twinsburg, Ohio, ESSCO distributes over 12,000 SKUs of floor care cleaning equipment and consumable parts, including products from Hoover, Kirby, Bissell, Oreck and Panasonic.  ESSCO’s unique nationwide distribution network allows it to provide time sensitive floor care retailers with the fastest lead times and broadest product selection in the industry.  ESSCO is also a leading provider of drop ship services for specialty floor care internet retailers and internet order fulfillment services for mass merchant retailers.

    Leading the transaction for Western Reserve was Managing Director David Dunstan, Vice President Andrew Male and Analyst Jessica Fleck.  Western Reserve also represented ESSCO in its original sale to MCM Capital Partners in 2005.

    “Western Reserve is proud to have represented ESSCO in its sale first to MCM and now to Cardinal,” said Mr. Dunstan.  “ESSCO has built the leading nationwide distribution platform and an exceptional management team under MCM’s guidance.  The company, now the well entrenched market leader, is exceptionally well positioned for future growth.”

    Steve Ross, Managing Director and Partner of MCM Capital Partners, said of Western Reserve’s involvement, “The Western Reserve team executed a highly efficient process that allowed MCM to realize an excellent return for its shareholders and find an ideal partner for ESSCO’s management team and employees going forward.”

    ESSCO Chief Executive Officer Tom Bianco said, “Western Reserve’s assistance was critical for our management team throughout the sale process.  Our team is excited to be partnering with Cardinal Equity Partners as we continue to develop new and innovative ways to best service the floor care industry.”

    . . .

    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.

  • Exxel Outdoors, LLC

    Distribution; Consumer

    Manufacturer and distributor of outdoor gear and camping equipment

    Acquired: American Recreation Products (Boulder, CO) from Kellwood Company, LLC (Chesterfield, MO), a portfolio company of Sun Capital Partners (Boca Raton, FL)

    Exxel Outdoors, LLC

    Western Reserve advised Exxel Outdoors in its acquisition of American Recreation Products (“ARP”) from the Kellwood Company, a portfolio company of Sun Capital Partners, Inc.  Western Reserve also advised Exxel on financing the transaction:  senior debt from Wells Fargo Bank and mezzanine debt from Pathlight Capital.

    Headquartered in Los Angeles, California, Exxel manufactures and markets family-style sleeping bags, tents, children’s camp sets and apparel, among other equipment. Their product portfolio includes four company brands (Suisse Sport, X20, American Trails, Master Sportsman), licensed brands (Disney, Marvel, DC Comics, Hello Kitty, Realtree) and private label products. Exxel’s Haleyville, Alabama plant is the leading manufacturer of U.S.-made sleeping bags.

    ARP, headquartered in Boulder, Colorado, is home to a collection of the most well-known and innovative outdoor industry brands, offering a wide variety of technical and lifestyle equipment, apparel, and accessories to compliment any outdoor pursuit. American Rec’s family of brands includes Kelty, Sierra Designs, Slumberjack, Wenzel, Ultimate Direction, Mountain Trails, and Instabed.  Its products are sold through sporting goods stores and outdoor specialty stores, as well as through mail order and the internet.

    Harry Kazazian, Chief Executive Officer at Exxel said, “The team at Western Reserve Partners worked hand-in-hand with us during every stage of this deal: approaching the seller, negotiating the purchase, securing the bank debt, securing the mezzanine debt, structuring the equity, and refining the legal documents.  They committed themselves 100% to our success.”

    . . .

    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.

  • FinishMaster Inc.

    Distribution; Consumer

    Distributor of automotive paints to the automotive collision repair industry

    Provided fairness opinion for the repurchase of common stock

  • FinishMaster Inc.

    Distribution; Consumer

    Distributor of automotive paints to the automotive collision repair industry

    Acquired: LDI Autopaints, Inc. (Indianapolis, IN)

  • Fire-Dex, Inc.

    Distribution; Consumer

    Manufacturer and distributor of fire protection apparel

    Recapitalized by: Peninsula Capital Partners (Detroit, MI) and management

    Fire-Dex, Inc.

    Western Reserve acted as exclusive financial advisor to Fire-Dex, LLC in its recapitalization with Peninsula Capital Partners L.L.C. This transaction represented the firm’s second engagement by Fire-Dex, as Western Reserve assisted the company in its 2007 recapitalization by Brown Brothers Harriman and StoneCreek Capital.

    Headquartered in Medina, Ohio, Fire-Dex, LLC is one of North America’s largest and fastest growing manufacturers of turnouts and related gear for firefighters, consistently recognized for its superior customer service and a high quality, broad product line.  The Company manufactures and supplies custom fire fighting turnouts, EMS, search and rescue, wild lands and proximity apparel, as well as gloves, hoods, boots and accessories throughout the United States, Canada and South America.

    As a result of the transaction, Fire-Dex provided liquidity to its previous junior capital providers and facilitated continued growth of the business with a new financial partner, Peninsula Capital Partners L.L.C. (“Peninsula”) through its Peninsula Fund V L.P., which provided subordinated debt and preferred equity.

    JPMorgan Chase Bank provided the senior secured credit facility.  The recapitalization was structured to allow Bill Burke, Chairman and majority shareholder, to acquire an increased equity ownership position and provide a strong financial partner to facilitate the continued growth of the business.

    Mr. Burke said, “Western Reserve ultimately delivered significant value to Fire-Dex’s shareholders. Their knowledge of our industry and attention to detail at every stage were essential to achieving an outcome much better than I had anticipated at the outset of the process. We are now well-positioned with a strong financial partner to capitalize upon our growth strategy.”

    . . .

    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.

  • Fire-Dex, Inc.

    Distribution; Consumer

    Manufacturer and distributor of fire protection apparel

    Recapitalized by: JP Morgan Chase, Brown Brothers Harriman and StoneCreek Capital

    Fire-Dex, Inc.

    Western Reserve acted as exclusive financial advisor to Fire-Dex, LLC in its recapitalization by Brown Brothers Harriman and StoneCreek Capital.

    Headquartered in Medina, Ohio, Fire-Dex is one of the country’s largest fire safety apparel manufacturers.  The company produces custom firefighting turnouts – outer protective clothing worn by firefighters.  In addition, Fire-Dex manufactures EMS, search and rescue, wildlands and proximity apparel, as well as gloves and hoods.

    Fire-Dex’s shareholders engaged Western Reserve to recapitalize the business in order to enable Charlie Grossman, Chairman and majority shareholder, to receive full liquidity and Bill Burke, President, to acquire a majority ownership position.  A recapitalization would also enable the company to facilitate continued growth.  Through a competitive auction process, Western Reserve introduced Fire-Dex to several potential partners.

    Fire-Dex was recapitalized by Brown Brothers Harriman and StoneCreek Capital in January 2007.  JPMorgan Chase Bank provided the senior secured credit facility.

    Mr. Grossman said, “The advice we received from Western Reserve was extremely helpful throughout the transaction.”

    Mr. Burke said, “Western Reserve allowed both Charlie and me to achieve our objectives, resulting in a favorable outcome for the company’s shareholders, as well as a new relationship with two valuable financial partners. We are very pleased with the Western Reserve team and the expertise they provided us in executing this complex 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.

  • Gorges Quik-To-Fix Foods Inc.

    Distribution; Consumer

    Supplier of meat to retail grocers and food service industries

    Financial advisor for the company in its Chapter 11 case; sold to Smithfield Foods, Inc. (Smithfield, VA)

  • I&K Distributors Inc.

    Distribution; Consumer

    Manufacturer, wholesaler and distributor of branded and private label potato salads and other foods

    Sold to: Chef Solutions, Inc. (Schaumburg, IL) a subsidiary of LSG Lufthansa Service Holding AG (Neu-Isenburg, Germany)

  • LDI Ltd. (Major Video Concepts Inc. subsidiary)

    Distribution; Consumer

    Distributor of video tapes and video games to independent and chain video rental stores

    Sold to: Ingram Entertainment, Inc. (La Vergne, TN)

  • Spartan Stores Inc.

    Distribution; Consumer

    Retailer and distributor of groceries

    Merged with: Seaway Food Town, Inc. (Maumee, OH); provided fairness opinion

  • Spartan Stores Inc. (L.L./Jiroch and J.F. Walker subsidiaries)

    Distribution; Consumer

    Distributor of products to convenience stores

    Sold to: The H.T. Hackney Co. (Knoxville, TN)

  • Spring Arbor Distributors

    Distribution; Consumer

    Distributor of Christian books

    Sold to: Ingram Industries, Inc. (Nashville, TN)

  • United Magazine Company

    Distribution; Consumer

    Regional distributor of books and magazines

    $38 million arrangement of senior secured bank facilities

  • Veteran Supply Company Inc. (Bankruptcy Estate of Grabill Corporation)

    Distribution; Consumer

    Wholesaler and retailer of restaurant supplies

    Financial advisor for the company in its parent's Chapter 11 case; sold to: Mr. Leslie Barnard (Chicago, IL)

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