Western Reserve Partners Executes Two Creative Recapitalizations

March 31, 2006

Western Reserve Partners recently closed two distinct transactions that highlight our ability to deliver creative financing solutions for our clients. In both cases, Western Reserve Partners integrated its capital structure analytical expertise, business valuation capability and in-depth capital markets knowledge to execute recapitalizations that achieved our clients’ strategic, operating, and financial objectives.

OMCO Recapitalization

OMCO, headquartered in Wickliffe, Ohio, is a leading provider of highly engineered roll formed products, primarily to niches in the over-the-road trailer, specialty trailer, specialty truck, commercial refrigeration and other industries.

Western Reserve Partners worked with OMCO’s shareholders and senior management to refinance the Company's existing credit facilities and recapitalize the business. The new capital structure is comprised of a five-year senior secured revolving credit facility and term loan and a senior subordinated note issuance due 2011. The recapitalization enabled OMCO to provide liquidity to its shareholders while facilitating the business’s continued growth. 

Ben Yorks, OMCO's CEO, commented, “We are very pleased with the technical and strategic support Western Reserve Partners provided us in executing this complex transaction. Their expertise and dedication to executing the transaction resulted in a very favorable outcome for our company and shareholders.”

Quatech-DPAC Technologies Recapitalization/Merger

Quatech, headquartered in Hudson, Ohio, is a leader in the device networking and connectivity solutions industry. DPAC Technologies, based in Garden Grove, California, provides embedded wireless networking and connectivity products for machine-to-machine communication applications. The merger of Quatech and DPAC created a leading interconnectivity solutions company with a full suite of interconnectivity products.

Western Reserve Partners worked with Quatech’s existing lenders and investors to provide financial support for the recapitalization and the subsequent merger with DPAC. In addition, Western Reserve Partners assisted Quatech in negotiating the terms and conditions of a key technology licensing agreement that further strengthened the Company’s industry leadership position.

Quatech Chief Executive Officer Steve Runkel said, “Western Reserve Partners was extremely helpful to us in completing this important merger. Their work with our lenders and investors to effect the recapitalization was critical to the success of the deal.”

Of both transactions, Kenneth A. Hirsch, Western Reserve Managing Director, commented, “We are pleased we were able to execute these important transactions on behalf of OMCO and Quatech. These are the type of solutions-oriented, advisory driven assignments that are the hallmark of our firm”

About Western Reserve Partners
Western Reserve Partners LLC is a Cleveland-based boutique investment banking firm that provides customized investment banking solutions for middle-market companies. The firm’s managing directors collectively have more than 140 years of experience and have directly executed more than 400 transactions and managed more than 1,200 transactions. For more information, visit www.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.