The Deal Declares July 4, 2004 as WRP's "Independence Day"

October 4, 2004

The Deal, the New York based magazine known as the “voice of the deal economy”, reported that on July 4, 2004, Ralph Della Ratta, Mark Filippell, Victor Faris, Kenneth Hirsch and David Dunstan, all former KeyBanc Capital Markets managers, “opened their own Cleveland-based M&A boutique, Western Reserve Partners.”  The Deal reported that they “yearned to provide M&A advice in the mold of their former firm, Cleveland-based McDonald Investments Inc.… Their target market: companies within a five-hour drive of Cleveland, which, quips Filippell, ‘covers pretty much all the interesting middle-market companies in America.’”

The Deal reported “They chose a name, Western Reserve, they hope will resonate with Midwestern CEOs.  They define ‘middle market’ as low as $25 million and up to $500 million, in the consumer, industrial and real estate sectors.”

The founders “were itching for something more entrepreneurial while they had the chance; the flat partnership structure also appealed to them. ‘We were all heirachied out,’’’ one partner states.  “Della Ratta got the ball rolling in June 2003, when he left KeyBanc to start his own boutique after his five-year golden handcuffs unsnapped … Della Ratta couldn’t hire former colleagues for a year, which postponed the start of Western Reserve to this summer.”

The article reported that Western Reserve has capitalized on $500,000 of the partners’ capital with an additional $2,000,000 being raised.  “Midwestern frugality is the rule” with engagements steadily coming in.

The Deal explains that “they did consider naming the boutique ‘Independence Capital.’  But the name was taken.  The concept they get to keep.”

The complete text of the October 4, 2004 article can be accessed through The Deal at (212) 313-9200.