Deal List

Customized Solutions. Superior Execution.
Unparalleled Results.

DEALS BY INDUSTRY

DEALS BY SERVICES

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

    Distribution; Industrial

    Distributor of fasteners to hardware retailers

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

  • Carlisle Construction Company Inc.

    Distribution; Industrial

    Provider of excavation equipment and crane rental services

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

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

    Distribution; Industrial

    Distributor of fertilizers and other agricultural and turf products

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

  • FinishMaster Inc.

    Distribution; Industrial

    Distributor of automotive paints to the automotive collision repair industry

    Provided fairness opinion for the repurchase of common stock

  • FinishMaster Inc.

    Distribution; Industrial

    Distributor of automotive paints to the automotive collision repair industry

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

  • Fire-Dex, Inc.

    Distribution; Industrial

    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; Industrial

    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.

  • Kennametal Corporation (ATS Industrial Supply subsidiary)

    Distribution; Industrial

    Independently managed distributor of branded metalworking consumables and related products to industrial manufacturers

    Sold to: Leveraged Buyout Investing Management (Salt Lake City, UT)

  • Kennametal Corporation (Strong Tool Co. subsidiary)

    Distribution; Industrial

    Independently managed distributor of branded metalworking consumables and related products to industrial manufacturers

    Sold to: Mr. Cedric Beckett (Detroit, MI)

  • KNG Energy Inc.

    Distribution; Industrial

    Distributor of natural gas across five Northwest Ohio counties

    Provided fairness opinion for the repurchase of shares using company proceeds

  • LESCO, Inc. (manufacturing and distribution operations)

    Distribution; Industrial

    Manufacturing and distribution operations of provider of products for professional turf care segment of green industry

    Sold to: Platinum Equity Partners, LLC (Beverly Hills, CA)

    LESCO, Inc. (manufacturing and distribution operations)

    Western Reserve acted as financial advisor to LESCO, Inc. (NASDAQ: LSCO) in the sale of its manufacturing and distribution operations to Platinum Equity Partners, LLC.

    LESCO, headquartered in Cleveland, Ohio, is the largest provider of products for the professional turf care segment of the green industry.  The company’s consumable turf care manufacturing and distribution operations represented nearly 80% of LESCO’s annual net sales.

    In an effort to improve shareholder value, LESCO’s Board of Directors engaged Western Reserve to divest the company’s manufacturing and distribution operations.  This would enable LESCO to harvest its working capital and utilize the proceeds to invest in its retail operations, pay down debt and return cash to shareholders.  Management could then execute on a focused, highly profitable professional retail strategy that should be well received by Wall Street.

    LESCO’s manufacturing and distribution operations were acquired by Platinum in October 2005.  Platinum, a Los Angeles, California private equity firm, was selected based on its recognized track record of success in corporate carve-outs, shared vision for the business and unique expertise in creating supply chain efficiencies.  In conjunction with the transaction, LESCO secured a long-term supply arrangement with Platinum for the manufacturing and distribution of its turf care products on favorable terms.

    LESCO President and Chief Executive Officer Jeffrey Rutherford said, “The entire Western Reserve team did a terrific job in a very complex transaction. We greatly valued their creativity, strategic advice and execution capabilities.”

    In May 2007, Western Reserve acted as financial advisor to LESCO in its sale to Deere & Company (NYSE: DE).

    . . .

    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.

  • Myers Industries Inc.

    Distribution; Industrial

    Manufacturer of polymer products for various markets and leading distributor of tools and supplies for the undervehicle repair industry

    $100 million placement of senior notes

  • Park-Ohio Holdings Corp.

    Distribution; Industrial

    Diversified manufacturer and distributor

    Provided financial advisory services

  • Reese Central Wholesale, Inc.

    Distribution; Industrial

    Wholesaler of roofing products and other building materials

    $14 million refinancing of senior debt with Bank of America

    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.

  • The Astrup Company

    Distribution; Industrial

    Distributor of fabric, hardware and trimmings to the awning, marine and casual furniture industries in the U.S.

    Sold to: Glen Raven, Inc. (Burlington, NC)

    The Astrup Company

    Western Reserve acted as exclusive financial advisor to The Astrup Company in its sale to Glen Raven, Inc.

    Founded in 1876 and based in Cleveland, Ohio, Astrup is the leading distributor of outdoor, recreational, industrial and technical fabric, hardware and trimmings to the awning, marine and casual furniture industries in the U.S.  Over the past 130 years, Astrup has evolved from a single-facility sail manufacturer to the leading national specialty fabric distributor with, at the time of the transaction, 11 sales and distribution centers located throughout the U.S.  In addition, Astrup is a significant equity holder in two leading specialty fabric distributors in both Canada and Mexico, making the company a virtual one-stop shop for customers throughout North America.

    The shareholders of Astrup elected to explore a potential sale of the company to its largest supplier, Glen Raven, who had enjoyed a business relationship with Astrup for more than a century.  Astrup retained Western Reserve as its exclusive investment banker who advised the company throughout the transaction.

    Based in Burlington, North Carolina, Glen Raven markets performance fabrics in more than 100 countries worldwide.  Concurrent with the Astrup transaction, Glen Raven acquired John Boyle & Co., another leading manufacturer and distributor of specialty fabrics who was also a major customer of Glen Raven’s and who, like Astrup, continued to operate as a wholly-owned subsidiary.  Post-transaction, Astrup continued to be led by its President and Chief Operating Officer, Jeffrey W. Kirk.  John H. Kirk, Astrup’s Chairman and CEO, retired at the close of the transaction.

    John Kirk said, “The team at Western Reserve worked diligently with us through the many details and nuances of the transaction and created significant value for Astrup’s shareholders.  I’ve known the firm for many years, and they are truly dedicated to providing superior service to their clients.”

    . . .

    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.

  • Wilmar

    Distribution; Industrial

    Distributor of repair and maintenance products to multi-family housing, lodging, and institutional facilities

    Acquired: Barnett Inc.

;