 |
 |
 |
       |
 |
Western Reserve Partners Advises LESCO in Divestiture of Assets to Platinum Equity Partners November 9, 2005 Western Reserve Partners LLC advised 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. In conjunction with the transaction, LESCO has secured a long-term supply arrangement with Platinum Equity Partners for the manufacturing and distribution of its turf care products on favorable terms.
Western Reserve Partners worked with LESCO’s senior management to structure a transaction that maintained access to a consistent source of supply and positioned the Company to execute on its retail strategy. Platinum Equity Partners 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. Managing Director David Dunstan led the Western Reserve Partners team in advising LESCO. “LESCO’s management had the vision to focus their business on the growing, profitable retail segment. We believe that executing this strategy will create significant long-term value for LESCO shareholders.” LESCO President and Chief Executive Officer Jeff Rutherford said, “The entire Western Reserve Partners team did a terrific job in a very complex transaction. We greatly valued their creativity, strategic advice and execution capabilities.” Western Reserve Partners LLC is a Cleveland-based boutique investment banking firm dedicated to providing customized investment banking solutions executed in a superior manner for middle-market companies. Additional information regarding Western Reserve Partners can be found at www.wesrespartners.com. For additional information, please call David D. Dunstan at (216) 589-9530 or e-mail him at ddunstan@wesrespartners.com 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. |
|