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Austin. TX, April 20, 2017 -- Westlake Securities is pleased to announce that the management team at MooreCo, Inc. ("MooreCo" or the "Company") has completed a leveraged buyout and recapitalization of the Company with its financial partner, Prudential Capital Group ("Prudential Capital"). Westlake Securities served as exclusive financial advisor and placement agent to the MooreCo management team on the transaction, which closed on April 6, 2017.
Headquartered in Temple, Texas, MooreCo is a global leader in the educational and commercial markets for visual communication products, technology support equipment and furniture. With state of the art equipment, highly trained employees, and excellent logistics and shipping systems, MooreCo Inc. has established a widely-recognized reputation for quality and reliability. Most recently, MooreCo Inc. integrated Vanerum Stelter from Belgium into its family of brands, expanding their product offering into the architectural & design marketplace.
"In contemplating this buyout, we were looking for a unique, flexible capital structure versus the standard private equity model" said Greg Moore, President and CEO of MooreCo. "Westlake Securities' deep network in the institutional investor community and its relationship with Prudential Capital provided us with a creative financing alternative that was a perfect fit."
"The recapitalization of MooreCo gives Greg Moore and his team greater operational control of the Company, and their enhanced equity position will provide them significant financial upside in the future success of the Company" said Randy Finch, Managing Director of Westlake Securities. "Prudential Capital was able to put together a comprehensive financing package, including senior and subordinated debt and preferred equity that is ideally suited to the MooreCo team's objectives. They will be an excellent partner in taking the business to the next level."
"Prudential Capital's long-term, relationship based investment strategy allowed them to craft a patient, 'one-stop' capital solution that fit management's goals both for this buyout transaction and future growth. This is the second transaction Westlake has closed with Prudential Capital in the past 18 months, and once again, their team made a genuine effort to understand our client's specific needs," added Jon D'Andrea, Vice President of Westlake Securities.
The completion of the transaction will allow MooreCo to explore opportunities for growth both organically and through strategic acquisitions, and further strengthens the position of the Company in its existing markets.
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Randy Finch Managing Director Westlake Securities, LLC 2700 Via Fortuna, Ste 250 Austin, TX Tel: 512-314-0711
