Crain’s Cleveland Business Newspaper features Western Reserve Partners Managing Director Mark Filippell in article “Vibrant Deal-Making Sector Lift’s Regions Economy”

March 3, 2008

Western Reserve Partners Managing Director Mark Filippell was quoted in an insert to Crain’s Cleveland business newspaper entitled “Vibrant deal-making sector lift’s regions economy.” The article, which was sponsored by the Association for Corporate Growth (ACG) Cleveland, discusses the M&A and Private Equity environment in Cleveland in the wake of the recent economic downturn. It appeared in the March 3, 2008 edition of the newspaper.

In the article Mr. Filippell discusses how the deal-making environment has changed in the past year and presents his estimates of the future. Of the past he says, “Increased competition among private equity firms as well as heightened interest from strategic buyers increased the values at which middle-market companies were sold.” He goes on to say that these large values have not been sustained because, “the meltdown of the subprime mortgage market is rippling through the corporate loan market, creating a lack of liquidity for large transactions.”

Mr. Filippell concludes by stating his belief that the conditions surrounding the deal making market will improve. He considers a recent increase in equity available to financial sponsors as a boon to industry purchasing power. To Mr. Filippell, “this suggests the potential for an M&A rebound, once the debt market stabilizes.”

The article also discussed the growing role of private equity in Northeast Ohio, the impact the recent credit turmoil has had on corporate borrowers, and what sellers can do to improve their positions and find the right advisors.