Deal List

Customized Solutions. Superior Execution.
Unparalleled Results.

DEALS BY INDUSTRY

DEALS BY SERVICES

  • American Bancorp

    Services

    Bank holding company with offices in West Virginia, Ohio and Pennsylvania

    Sold to: WesBanco, Inc. (Wheeling, WV)

  • Anderson Banking Company

    Services

    Commercial bank in Indiana

    Sold to: Merchants National Corporation (Indianapolis, IN)

  • Anthem Inc.

    Services

    Largest provider of private health insurance in the U.S.

    $2 billion initial public offering of common stock

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

    Services

    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.

    Services

    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.

  • BC Investment Partners LLC

    Services

    Wealth management services provider serving high net worth individuals and families

    Acquired: McCormack Advisors International LLC (Cleveland, OH)

    BC Investment Partners LLC

    Western Reserve acted as exclusive financial advisor to BC Investment Partners LLC (“BC”) in its acquisition and merger with McCormack Advisors International, LLC (“MAI”).

    BC was a Cleveland, Ohio-based registered investment adviser offering alternative wealth management services.  MAI was a full-service wealth management firm based in Cleveland, Ohio, providing financial planning, tax, investment, insurance and bill paying services.  MAI was originally established in 1973 as an affiliate of International Management Group (“IMG”), the world’s premier sports and lifestyle management and marketing firm.

    Formed in late 2005, BC lacked a critical mass and a marketable brand name, which it recognized in MAI.  BC engaged Western Reserve to analyze the acquisition and raise financing for a merger that would dramatically increase assets under management, add a significant number of highly-skilled asset management professionals and  incent management to achieve outstanding performance through ownership grants.  In January 2007, BC completed the acquisition of and merger with MAI; the new entity is known as MAI Wealth Advisors LLC.

    Rick Buoncore, BC’s managing partner, said, “The Western Reserve team provided an outstanding level of service to our firm through the many details of this acquisition and financing 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.

  • Bock & Clark Corporation (portfolio company of High Street Capital)

    Services

    Provider and coordinator of commercial real estate due diligence services

    Sold to: Orchard Holdings Group (Cincinnati, OH)

    Bock & Clark Corporation (portfolio company of High Street Capital)

    Western Reserve Partners served as exclusive financial advisor to Bock & Clark Corporation (“Bock & Clark”), a portfolio company of High Street Capital, in its sale to Orchard Holdings Group.

    Bock & Clark is a leading provider and coordinator of commercial real estate due diligence services that include ALTA Surveys, Zoning, Environmental and Assessment reports throughout North America. The company leads the industry in the coordination of commercial real estate surveys and provides a complete line of reports and services through its national network of independent service providers and its company-owned own branches.

    Of working with Western Reserve, Chief Executive Officer Jeff Echko said, “The Western Reserve team provided an incredible amount of insight and support throughout all stages of the transaction.  The team’s expertise, dedication and perseverance resulted in a very favorable outcome for our company and our 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.

  • Bridgestreet Accomodations

    Services

    Provider of corporate full service accomodations

    $27 million initial public offering of common stock

  • Capstone Logistics, LLC (portfolio company of HIG Capital & MSouth Equity Partners)

    Services

    Provides pay-for-performance workforce solutions to warehouse, distribution and manufacturing industries

    Provided financial opinion for dividend recapitalization

  • Champion Expositions Services Inc.

    Services

    Event marketing services provider for trade shows and corporate events

    Sold to: Wachovia Capital Partners (Charlotte, NC)

  • Choice Care

    Services

    HMO

    $14 million initial public offering of common stock

  • Clark Testing

    Services

    Provider of testing services primarily to the mining, petrochemical, power generation and heavy equipment industries

    Provided valuation services

  • ComDoc

    Services

    Sells and services printers, networked copiers and facsimile machines

    Provided advisory services

  • Conley Canitano & Associates

    Services

    Integrator of SAP information technology for middle market companies

    $12 million placement of subordinated notes

  • Conley Canitano & Associates

    Services

    Integrator of SAP information technology for middle market companies

    Recapitalized by: TA Associates, LP (Boston, MA)

  • Crane Group

    Services

    Private, family-owned holding and management company

    Acquired: Pet Paradise Resort and Day Spa (Jacksonville, FL)

    Crane Group

    Western Reserve Partners announced that the Crane Group purchased a majority interest in Pet Paradise Resort and Day Spa. This transaction marked Crane’s first investment in the pet industry. The partnership will allow new growth and innovation opportunities for Pet Paradise. Western Reserve provided buy-side advisory services to Crane from identifying targets, advising on negotiations to assisting with due diligence.

    Founded in 2002, Pet Paradise offers pet boarding and daycare services for dog or cat pet owners. Based in Jacksonville, Florida with over 26 locations and 700 employees throughout the southern region of the country, Pet Paradise provides a variety of services such as room and suites boarding, grooming, training, all day play activities and on-site veterinary services.

    Crane is a 65 year old private, family-owned holding and management company based in Columbus, Ohio. Crane is comprised of five operating companies serving local, regional and global markets within their respective industries. Crane seeks investment opportunities in leading middle market companies that can leverage the depth and breadth of resources of the Crane team in a mutual effort to secure long-term growth and sustained profitability.

    Tanny Crane, President and CEO of the Crane Group, said “It has been a goal at Crane for years to make an investment in this industry and we are pleased to have found Pet Paradise. We couldn’t have done it without Western Reserve’s help.”

    “We are thrilled that the Crane Group now has an investment in the pet industry. Pet Paradise and Crane are a great fit for one another and we’re excited to see the partnership grow,” said Director David 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.

  • Cranel, Inc. (Adexis division)

    Services

    Provider of turnkey data storage solutions

    Sold to: FusionStorm (San Francisco, CA)

    Cranel, Inc. (Adexis division)

    Western Reserve acted as exclusive financial advisor to Cranel, Inc. in the divestiture of its Adexis division to FusionStorm.

    Founded by James Wallace in 1985 and headquartered in Columbus, Ohio, Cranel is a full-service distributor of computer equipment and related services, serving VARs that supply Fortune 1000 and small and medium-sized businesses in the U.S. and Canada.  The Company’s Adexis division is a leading provider of turnkey data storage solutions, from hardware and software products to professional consulting and support services.

    Western Reserve was engaged by Cranel to explore a divestiture of Adexis, a non-core division, and through a competitive auction process, Western Reserve introduced Adexis to several potential strategic buyers.

    Adexis was acquired by FusionStorm in November 2009.  Based in San Francisco, California, FusionStorm is provider of technology solutions.  The acquisition of Adexis enhanced FusionStorm’s engineering talent and strengthened its Midwest sales teams across all technology business units and provided Adexis’ customers with access to many more technology solutions from FusionStorm’s technology practices

    Cranel Chairman and Chief Executive Officer James Wallace said, “We are very appreciative of Western Reserve’s creativity and dedication to execution.  This transaction will allow our management team to focus on Cranel’s industry leading Imaging business and its complementary Versitec service offering, which we believe will create significant long-term value for our stakeholders.”

    . . .

    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.

  • Creative Cabinet Systems, Inc.

    Services

    Manufacturer of custom store fixtures and woodworking projects for national retailers

    Certain assets sold to: idX Corporation (St. Louis, MO), a portfolio company of Acon Investments LLC

    Creative Cabinet Systems, Inc.

    Western Reserve Partners served as financial advisor to Creative Cabinet Systems, Inc. in the sale of certain assets to idX Corporation.  The transaction was led by Managing Director David Dunstan, Director Charles Aquino and Vice President Andrew Male of the firm’s Business Services and Consumer group, who were supported by Analyst Alexander Trouten.

    Founded in 1968, Dayton, Ohio-based Creative Cabinet Systems is a leading manufacturer of custom store fixtures and woodworking projects for national retailers.  Products and services include fixtures composed of hardwood, veneer, laminate, metal and glass and a full suite of engineering capabilities including prototyping and national rollout programs.

    Incorporated in 1999 and headquartered in St. Louis, Missouri, idX Corporation manufactures wood, metal, glass, laminate, veneer and acrylic store display fixtures.  Products include kiosks, loose fixtures, retail counters, retail display fixtures and signage for the banking, financial, hospitality and point-of-purchase industries.  idX operates through thirteen locations globally and is a portfolio company of Acon Investments.

  • Dana Corp.

    Services

    Owner of Diamond Savings and Loan

    $85 million securitization of beach condominium mortgages

  • Decanter Machine, Inc.

    Services

    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.

  • Environmental Quality Company

    Services

    Solid waste management company

    Sold to: Allied Waste Industries, Inc. (Scottsdale, AZ)

  • First Indiana

    Services

    Bank holding company

    $5 million merger conversion

  • First Merchant Corporation

    Services

    Bank holding company that performs commercial banking operations, credit card services, mortgage banking and trust services

    $32 million fixed price tender offer

  • FirstBank Holding Company

    Services

    Commercial bank in Colorado and California

    $50 million placement of trust preferred securities

  • Gallo Displays, Inc.

    Services

    Designer of 3D displays for tradeshows and conventions

    Sold to: CapitalWorks (Cleveland, OH)

    Gallo Displays, Inc.

    Western Reserve acted as exclusive financial advisor to Gallo Displays, Inc. in its sale to CapitalWorks LLC.

    Gallo, founded in 1929 by the Gallo family and based in Cuyahoga Heights, Ohio, is a leading provider of customized tradeshow solutions, including the design, production, installation and servicing of 3-dimensional tradeshow exhibits.  With a distinguished track record of delivering innovative designs, exceptional project management and best-in-class customer service, Gallo has become the exhibit producer of choice in the healthcare industry.  In 1996, the Gallo family converted the company into an Employee Share Option Plan (“ESOP”).

    Gallo’s Board of Directors elected to explore strategic alternatives as the company’s senior management team was entering a transition phase.  Given Gallo’s ESOP status, Western Reserve thoroughly cleared the financial and strategic buyer markets and worked closely with the company’s outside ESOP Trustee to ensure that Gallo employees received fair market value for their equity ownership.

    Gallo was acquired by CapitalWorks in August 2008.  CapitalWorks is a Cleveland, Ohio based private equity firm focused on acquiring small middle-market companies where their industry experience and professional network provide strategic advantages.

     Gallo Chief Executive Officer Cathy André said, “The Western Reserve team did an excellent job of advising our board of directors through this complex transaction and ensuring that we delivered significant value to our shareholders.”

    . . .

    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.

     

  • Gallo Displays, Inc. (portfolio company of CapitalWorks, LLC)

    Services

    Designer of 3D displays for tradeshows and conventions

    Provided strategic advisory services

  • GCA Services Group (portfolio company of Nautic Partners LLC)

    Services

    Provider of facility management services to educational, industrial and institutional facilities

    Provided valuation services

  • Harsco Corporation (highway maintenance division)

    Services

    Company involved in highway painting and vegetation control

    Sold to: Parkside Acquisition Partners (Rocky River, OH)

  • Holdco Mortgage Acceptance Corporation

    Services

    GNMA collateralized mortgages

    $81 million debt offering

  • Holdco Mortgage Acceptance Corporation

    Services

    GNMA collateralized mortgages

    $94 million debt offering

  • International Outsourcing Services LLC

    Services

    Provider of coupon processing services to nearly 20,000 retail stores throughout the U.S

    Sold to: ProLogic Redemption Solutions, Inc. (Bloomington, IN), a portfolio company of Marlin Equity (El Segundo, CA)

    International Outsourcing Services LLC

    Western Reserve acted as exclusive financial advisor to International Outsourcing Services, Inc. (“IOS”) in the sale of its coupon redemption operations to ProLogic Redemption Solutions, a portfolio company of Marlin Equity Partners.

    IOS was one of the world’s largest coupon processing companies and remains a provider of outsourced data services to a variety of end markets.  The company’s coupon division regularly processed more than one billion coupons annually for customers such as Food Lion, Kroger, SUPERVALU and Winn Dixie.  IOS’ data services division provides data entry, forms processing, mail resolution and other back-office functions.

    In March of 2007, a federal grand jury indicted IOS and 11 of its executives on 25 counts and $250 million worth of coupon fraud; subsequently, 23 of the largest consumer product companies, including Kellogg Co., Kraft Foods, General Mills, Johnson & Johnson and PepsiCo., filed a civil lawsuit against IOS for $150 million in damages.  Western Reserve was hired by IOS’ board-appointed interim management company, FTI Palladium Partners, to sell the company’s coupon redemption operations.

    Western Reserve worked in conjunction with FTI, IOS’ board of directors, the company’s five-member bank group and its indicted founding family to facilitate a complex multiparty transaction.  ProLogic acquired IOS’ coupon redemption operations in June 2008.  ProLogic was a newly-formed portfolio company of Marlin Equity, a private investment firm based in El Segundo, California focused on providing corporate parents, shareholders and other stakeholders with tailored solutions that meet their business and liquidity needs.

  • Irwin Financial

    Services

    Bank holding company

    $30 million private placement of subordinated notes

  • Mazer Corp. (creative services division)

    Services

    Develops content and manufactures instructional media for educational publishers, trade associations, and government agencies

    Provided valuation services in the company's bankruptcy case

  • Merchants Mutual

    Services

    Property & casualty insurance

    Provided financial advisory services

  • Meridian Insurance

    Services

    Provider of property and casualty insurance

    Acquired: Mercury Security Group, Inc. (Red Wing, MN)

  • MISCOR Group Ltd.

    Services

    Specialty contractor for electrical and related projects

    Sold to: Integrated Electrical Services, Inc. (NASDAQ: IESC) (Houston, TX); provided fairness opinion

    MISCOR Group Ltd.

    Western Reserve served as the exclusive financial advisor to the Board of Directors of MISCOR Group Ltd. (OTCPK: MIGL) in its sale to Integrated Electrical Services, Inc. (NASDAQ: IESC).  Western Reserve also rendered a fairness opinion to MISCOR’s Board in connection with the transaction.

    MISCOR, based in Massillon, Ohio, provides electrical and mechanical solutions to customers throughout the United States and abroad through its two operating segments, Industrial Services and Rail Services.  The Industrial Services segment provides maintenance and repair services for AC and DC electric motors and generators, as well as power generating and distribution equipment; manufactures, remanufactures and repairs industrial lifting magnets; and provides maintenance and repair services for railroad main and auxiliary generators, main alternators and traction motors. The Rail Services segment manufactures and remanufactures EMD style power assemblies for the 567, 645 and 710 engine families.

    William Schmuhl, Chairman of the Special Committee of MISCOR’s Board of Directors, commented, “The special committee valued the advice and counsel provided by Western Reserve Partners throughout this process.  Their knowledge of the industry and dedication to a successful outcome were critical to 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.

  • MISCOR Group Ltd. (CES division)

    Services

    Specialty contractor for electrical and related projects

    Provided fairness opinion in sale of the CES division to John A. Martell

  • n2y LLC

    Services

    Developer of special education curriculum and special education materials

    Sold to: The Riverside Company (Cleveland, OH)

    n2y LLC

    Western Reserve Partners announced that it served as financial advisor to n2y LLC in its sale to The Riverside Company. DeSilva+Phillips, Western Reserve’s affiliate member firm of M&A International, co-advised on the transaction.

    Based in Huron, Ohio, n2y is a leading developer of special education curriculum and supplemental materials. n2y’s core products include Unique Learning System, a standards-based special needs curriculum; news-2-you, a weekly current events newspaper; and SymbolStix, a symbol-based language used in all of the Company’s learning materials. The Company’s products, which are delivered to classrooms through an interactive web-based platform, serve the special education community by improving student performance, teacher efficiency, school compliance and parent satisfaction.

    n2y Founder and CEO Jacquie Clark first developed the newspaper that would become news-2-you during her 30-year career as a speech-language pathologist. The homemade newspaper used symbols and current events news stories to engage students in a learning environment and as word-of-mouth of its success spread among teachers, Jacquie recognized a significant opportunity to improve special education practices nationwide. Jacquie then, with her husband Dave, himself a retired U.S. Air Force Colonel, started n2y out of their spare bedroom in 1997. Jacquie’s daughter Chrissy (President), son Michael (CTO) and son-in-law Don (COO) each joined the Company soon thereafter and they together have grown n2y to become the world’s leading developer of innovative special education curriculum and supplemental materials. The Clark family’s decision to partner with Riverside now allows the Company to pursue its significant growth opportunities and bring n2y’s innovative curriculum to more of the United States’ 6.6 million special education students.

    The Riverside Company is a global private equity firm focused on acquiring and investing in growing businesses valued at up to $400 million. Since its founding in 1988, Riverside has invested in more than 420 transactions. The firm’s international portfolio includes more than 80 companies.

    Of working with Western Reserve, Jacquie Clark said, “The Western Reserve team did an excellent job advising us throughout the entire process. Their hard work and dedication resulted in an extremely favorable outcome. We are excited to partner with Riverside and look forward to utilizing the firm’s knowledge and experience in the sector as we continue to enhance and expand our business.”

    Mr. Mayer said, “We could not be happier for n2y, its shareholders and their future partnership with Riverside. Riverside’s education and training industry expertise will be invaluable to n2y’s continued 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.

  • Ohio Casualty Corporation

    Services

    Provider of property and casualty insurance

    $201 million follow-on offerings of common stock

  • Osmose Holdings, Inc.

    Services

    Manufacturer of wood preservation chemistry and technology and provider of services to the utilities and railroad industries

    Sold to: funds managed by Oaktree Capital Management, L.P. (Los Angeles, CA); provided fairness opinion

    Osmose Holdings, Inc.

    Western Reserve served as the exclusive investment banker to Osmose Holdings, Inc. in its sale to funds managed by Oaktree Capital Management, L.P. Western Reserve also rendered a fairness opinion to the Board of Directors of Osmose in connection with the transaction.

    Founded in 1934 and based in Buffalo, New York, Osmose operates in three business segments:

    Wood Preservation — Manufacturer and marketer of wood preservation and treatment technology

    Utilities Services — Provider of pole maintenance, pole restoration, field survey services, engineering services and storm response

    Railroad Services — Provider of bridge services including construction, engineering, inspection, maintenance and repair

    Oaktree, headquartered in Los Angeles, California, is a leading global investment management firm focused on alternative markets, with $77.9 billion in assets under management as of March 31, 2012.

    James Spengler, President and Chief Executive Officer of Osmose, will continue to serve in the same capacity along with Osmose’s existing management team.  “Osmose has built very strong brand recognition and a solid reputation for innovative products and services, excellent customer service, best in class safety performance and good growth prospects across all its business segments which attracted Oaktree to seek a partnership with management to pursue strategic growth plans.  Oaktree can provide substantial additional resources and is committed to investing in Osmose to help us expand our product and service offerings and to better meet and exceed our customers’ expectations,” said Mr. Spengler.

    Ian Schapiro, Oaktree Managing Director, said, “We are delighted to have the opportunity to invest in Osmose and to provide the Company with additional resources and capabilities to expand its product and service offerings, invest in additional research and development, and deliver superior customer service. We look forward to working with Osmose’s world-class management team to continue to build on the Company’s success.”

    Leading the transaction for Western Reserve were Managing Directors Ralph Della Ratta and Joseph Carson, supported by Vice President Rebecca White, Associate David Helsel and Analysts Courtney Downs and Matthew Francati.

    “Osmose and Oaktree are leaders in their respective fields, and we are honored to have worked with such fine organizations,” said Mr. Della Ratta.  “We look forward to watching Osmose take its success to the next level with the help of a financial partner.”

    Of working with Western Reserve, Mr. Spengler said, “Western Reserve provided tremendous support and guidance throughout the transaction.  They had a nuanced understanding of the deal’s complexities and impartially advised Osmose’s Board each step of the way.  Our shareholders recognize the value that Western Reserve added and thank them for their unwavering dedication.”

    . . .

    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.

  • Park Place International, Inc.

    Services

    Provider of IT equipment and post warranty maintenance services

    Recapitalized by: JP Morgan Chase

  • Peoples Bank Corp of Indianapolis

    Services

    Commercial bank in Indiana

    Sold to: Fifth Third Bancorp (Indianapolis, IN)

  • Quantum

    Services

    Provides backup, recovery, and archive storage solutions worldwide

    Provided fairness opinion in the acquisition of Certance LLC (Costa Mesa, CA)

  • QuEST Global Services Pte. Ltd.

    Services

    Provider of outsourced engineering services and solutions

    Provided strategic advisory services

  • Railroadmen’s Federal

    Services

    Savings and loan holding company in Indiana

    Sold to: Huntington Bancshares (Columbus, OH)

  • Shelby Federal Savings Bank

    Services

    Commercial bank in Indiana

    Sold to: First of America Bank Corporation (Kalamazoo, MI)

  • SIFCO Industries, Inc. (large aerospace turbine engine component repair operations)

    Services

    Large aerospace portion of turbine engine component repair business and certain related assets

    Provided fairness opinion in sale to SR Technics Airfoil Services Limited (Zurich, Switzerland)

    SIFCO Industries, Inc. (large aerospace turbine engine component repair operations)

    Western Reserve provided the fairness opinion to the Board of Directors of SIFCO Industries, Inc. (AMEX: SIF) in connection with the sale of its large aerospace turbine engine component repair business to SR Technics Airfoil Services Limited, a wholly-owned subsidiary of SR Technics.

    SIFCO, headquartered in Cleveland, Ohio, is engaged in the production and sale of a variety of metalworking processes, services and products produced primarily to the specific design requirements of its customers.  One of its major business segments was the repair of turbine engine components for the aerospace industry.

    SIFCO entered into an agreement to sell the aerospace portion of its turbine engine component repair business and related assets to an Ireland-based subsidiary of SR Technics (SR TechnicsAirfoil Services Limited).  Based in Zurich, Switzerland, SR Technics is one of the world’s leading independent total solutions providers of aircraft, component, engine and technical services.  A special committee of SIFCO’s Board of Directors engaged Western Reserve to provide a fairness opinion in connection with the divestiture.  The transaction was consummated in May 2006.

    SIFCO Board Member Alayne Reitman remarked, “The SIFCO Board appreciated the independent perspective that Western Reserve provided in advising us as to the fairness of the divestiture of our large aerospace turbine engine component repair business.”

    . . .

    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.

  • SolmeteX, a division of Layne Christensen Company

    Services

    Provider of dental amalgam separator devices and amalgam recycling services to the dental industry

    Sold to: Gemini Investors (Wellesley, MA) and Riveria Investment Group (New York, NY)

    SolmeteX, a division of Layne Christensen Company

    Western Reserve acted as exclusive investment banker to Layne Christensen Company (NASDAQ:LAYN) in the divestiture of its SolmeteX division to Gemini Investors, Riveria Investment Group and the management team of SolmeteX.

    SolmeteX provides dental amalgam separator devices and amalgam recycling services to the dental industry, which are highly regarded as the best solution for regulatory compliance.  SolmeteX is widely recognized as the single trusted source for comprehensive environmental solutions for dental waste needs.

    Layne Christensen is a global water management, construction and drilling company, providing responsible solutions to the world of essential natural resources — water, mineral and energy. The company offers innovative, sustainable products and services with an enduring commitment to safety, excellence and integrity.

    Founded in 1993, Gemini is a private equity firm that invests in companies between $5 and $50 million in sales, either looking for growth capital or pursing a recapitalization.  Since its inception, the firm has invested approximately $500 million in more than 100 companies throughout the U.S., typically investing $3 – $8 million per transaction in either control or minority positions.

    Founded in 2011, Riveria is a private investment group with offices in Washington D.C and New York. Riveria primarily focuses on growing companies with a history of positive operating cash-flows and seeks transactions that present unique investment opportunities in industries experiencing significant growth. Riveria’s private equity efforts emphasize growth and value-added strategies to generate strong returns. The investment in SolmeteX represents Riveria’s 6th investment since inception.

    Nick Mozzicato, SolmeteX’s President said, “I believe SolmeteX’s potential is significant. We’re approaching a critical phase in the growth of our company, and Gemini and Riveria are the right partners to help us execute on our strategy. Western Reserve did a superb job representing SolmeteX and Layne, and their understanding of the business and industry was critical to a successful 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.

  • SolmeteX, Inc.

    Services

    Developer of water treatment solutions

    Sold to: Layne Christensen Company (Mission Woods, KS)

    SolmeteX, Inc.

    Western Reserve acted as exclusive financial advisor to SolmeteX, Inc. in its sale to Layne Christensen Company.

    Founded in 1994 and based in Northborough, Massachusetts, SolmeteX has emerged as an innovator and developer of specialized chemistries, technologies and processes that cost-effectively remove toxins from drinking water and wastewater. Its impressive technology portfolio positions it as a market leader in one of the fastest-growing industries today. SolmeteX’s products include its Hg5® Series of Amalgam Separators used for dental mercury removal and its npXtra™ series of products used for arsenic and uranium removal.

    SolmeteX’s shareholders decided to explore the sale of the company to gain liquidity while ensuring a buyer would support the company’s growth strategy.  SolmeteX retained Western Reserve to assist in the sale of the business, and after a competitive process, Layne Christensen Company successfully acquired the company in November 2007.

    Based in Mission Woods, Kansas, Layne Christensen’s Water Resources Division provides a full line of water-related services and products, including hydrological studies, site selection, well design, drilling and well development, pump installation, and repair and maintenance. SolmeteX operates as a wholly owned subsidiary of Layne Christensen, led by SolmeteX’s Chief Executive Officer, Owen Boyd, and President, Nick Mozzicato.

    Jeffrey Fehn, a former Director of SolmeteX, said, “The Western Reserve team did a superb job advising our board of directors and working closely with the management team to structure a transaction that we are all very pleased with.  They were very ‘hands-on’ throughout the transaction, and we benefited from their creativity and attention to detail in leading the deal team and structuring 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.

  • The SpyGlass Group, Inc.

    Services

    Provider of niche telecommunications expense management services

    Recapitalized by: an investor group led by Crane Investment Company (Columbus, OH)

    The SpyGlass Group, Inc.

    Western Reserve Partners served as the exclusive investment banker to The SpyGlass Group, Inc. in its recapitalization by an investor group led by Crane Investment Company.  The transaction was led by Managing Director David Dunstan, Director Charles Aquino and Vice President Andrew Male of the firm’s Business Services and Consumer group, who were supported by Analyst Courtney Downs.

    SpyGlass is a leading provider of niche telecommunications expense management services.  Headquartered in Westlake, Ohio, the Company’s services include audit and implementation of telecom expense savings opportunities such as recovery of funds paid in error, elimination of unnecessary services and improvement of provider cost structures.  SpyGlass serves a diverse range of customers, including private sector businesses of all sizes, government agencies, educational institutions and healthcare facilities.

    Co-Chief Executive Officers Bradley Clark and Edward DeAngelo will remain significant shareholders in the company and continue to serve in the same capacity along with the existing management team.  “Our team is thrilled to be partnering with Crane Investment Company as we continue to invest in the business and execute our long term growth strategy,” said Mr. DeAngelo.

    “It was a pleasure to represent SpyGlass on this transaction,” said Mr. Dunstan.  “SpyGlass is well positioned for continued growth given its unique sales model, compelling value proposition and proven ability to penetrate new markets.”

    Mr. Clark said, “Western Reserve’s assistance and advice were critical in finding the right partner and navigating through the process.  Their team’s expertise, responsiveness, perseverance and creativity allowed us to achieve a very favorable outcome for the company, our employees and our 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.

  • TMS Analytical Services Inc.

    Services

    Provider of environmental testing services for the Environmental Protection Agency, state governments and private companies

    Sold to: Somerset Group, Inc. (Indianapolis, IN)

  • United Fire & Casualty

    Services

    Provider of property and casualty insurance

    $69 million offering of convertible preferred stock

  • Valassis Communications Inc.

    Services

    Provider of media and marketing services to consumer packaged goods manufacturers, retailers, food service providers and other clients

    Provided financial opinion

  • Volume Services America Holdings

    Services

    d/b/a Centerplate; provider of food, catering, merchandise, design and facility management services for sports and entertainment venues

    $300 million initial public offering of Income Deposit Securities

;