The offering involves $175 million aggregate principal amount of its senior secured second lien notes due 2018. The notes will carry a coupon interest rate of 8.125%.

ION Geophysical intends to use the net proceeds from the offering to repay existing debt and for general corporate purposes, including for potential additional capital contributions to the Company’s GeoRXT seabed seismic joint venture, thus improving its financial flexibility.

“We were pleased to be selected by ION to co-manage the offering,” said Westlake Partner and Managing Director Randy Finch.

“Our involvement in this transaction reflects Westlake Securities’ growing presence in the seismic sector specifically and the energy services industry in general.

“As one of the few firms in the middle market with an active capital markets group, we have a range of capabilities in serving publicly traded companies that most of our peers do not.”

Ends

The Dallas Business Journal and the Dallas/Fort Worth Association for Corporate Growth work together each year to honor top deals and dealmakers in the North Texas mergers and acquisitions world.

This year, Westlake Securities was nominated as a finalist in the transactions under $50 million category for its role in the leveraged recapitalization of Trinity Forge Inc.  Westlake Securities Partner and Managing Director Brad Purifoy was named as one of the two individual finalists for ‘Intermediary Dealmaker of the Year’.

Established in 2003, Westlake Securities has grown from solely investment banking to include capital markets trading services, fundamental research and financial advisory specializing in company valuations, 409As and fairness opinions.

Westlake Securities Partner and Managing Director Randy Finch welcomed the nominations.

“Whether we win or not, Westlake Securities is honored to be selected as a finalist and recognized for our advisory role in the Trinity Forge deal.  The Westlake team, led by Dallas Partner and Managing Director Brad Purifoy, worked diligently to get this complex transaction completed and we congratulate him on his nomination as a key dealmaker in the North Texas area.”

Mr. Purifoy said, “It’s an honor to be recognized in this profession but it is especially meaningful when that recognition is from my M&A peers.  The entire team on the Trinity Forge deal was extremely talented and focused and all deserve to be recognized and congratulated on their achievement.”

Winners will be announced at an awards ceremony in Dallas on May 9.

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Click here for the finalists announcement

Click here for information about the Trinity Forge deal

For more information please contact Fleur Robinson, Media Relations, Westlake Securities, LLC at (512) 314-0703.

About Westlake Securities
Westlake Securities is a full service investment firm with offices in Austin, Dallas, Houston and Lafayette. It is one of the few firms in Texas offering a full array of investment banking, institutional sales and trading, underwriting and financial advisory services and research, to the middle market. Westlake is a member of FINRA and SIPC. Please visit www.westlakesecurities.com for further information.

Established in 1955, Trinity Forge is a leading independent manufacturer of closed die forgings and machined parts, based in Mansfield, Texas.  The Company’s products are used across many industry sectors including oil & gas, mining, handtools, power generation and industrial equipment. The quality of its products along with renowned customer service has resulted in phenomenal long-term growth and customer retention.

Lone Star is a Dallas-based private equity firm that specializes in leveraged acquisitions and recapitalizations of strategically viable middle-market businesses with strong potential for growth.  Lone Star invests in a wide variety of industry sectors including manufacturing/industrial, distribution, business services and energy.  Lone Star has a dual mission of for-profit private equity investing in low-income areas of the state.

Westlake Securities served as exclusive financial advisor to Trinity Forge on the transaction, led by Westlake’s Dallas-based Managing Directors Brad Purifoy and Terry Fick.  Senior facilities were provided by Comerica Bank – Middle Market Banking Division.  Robert R. Kibby, of Munsch Hardt Kopf & Harr, P.C. served as Trinity Forge counsel.  Baker & McKenzie LLP represented Lone Star in the transaction, led by Ted Schweinfurth.

Mr. Purifoy commented “The transaction was a win for all parties, providing the Company’s shareholders with an excellent exit result, while Lone Star’s vision for and commitment to Trinity paired with the Company’s seasoned management team will ensure continued growth of the Company’s high quality operation to the benefit of its customers and employees.”

“The management team at Trinity Forge is pleased to join forces with Lone Star,” commented Dick Johnston, President of Trinity Forge.  ”We are eager to pursue new avenues of growth while preserving the pillars of our success: value, service and integrity.”

“We were very impressed with Westlake’s team of Brad Purifoy and Terry Fick and their skilled leadership throughout all stages of the preparation, marketing and sale process.  They remained steadfastly committed to representing our shareholders’ interests and guiding us through to an excellent end result with Lone Star,” stated Dennis Withers, Trinity Forge CEO Emeritus.

Mr Purifoy said “Westlake sees an active M&A transaction environment for 2013 due to generally improved economic conditions and an over abundance of corporate and institutional investor liquidity searching for high quality companies in which to invest.”

For more information please contact Brad Purifoy, Managing Director, Westlake Securities, (214) 635-4826  bpurifoy@westlakesecurities.com

Originally from Katy, TX, Hancock has worked in securities for over a decade, in both Los Angeles (with Wedbush Morgan) and San Francisco (BlueFin Research Partners) before moving to Austin in 2010 with BlueFin. His specialty is institutional equity research sales.

Hancock is a graduate of the United States Air Force Academy in Colorado Springs, CO.  He spent five years in active duty military service and achieved the rank of Captain before entering the securities markets.

“The team at Westlake has established a great investment banking franchise that’s primed for future growth.  With a newly minted research department and deep relationships throughout Texas, the firm has a great opportunity to expand its service for emerging growth companies in both the private and public markets.  I look forward to helping the team broaden its institutional investor base,” Hancock said.

Jules Scruggs, Westlake’s Senior Vice President Capital Markets, said bringing Hancock onto the team was in line with the company’s strategic growth.

“One of Westlake’s key areas of expertise is oil/gas/energy services.  Much of our trading and investment banking is in that space, and our new research division is in that space so it makes sense to add someone like Craig, especially now that the energy market is so active.

“With his expertise and range of institutional relationships, Craig is a great addition to our team and we look forward to another year of growth.”

Westlake Securities Equity Capital Markets Group provides unique insight into a select group of companies, based on extensive research and due diligence.  These companies are introduced to a worldwide group of institutional clients via roadshows and management meetings.  Westlake delivers agency-only execution of domestic and international securities for institutional clients.  Using the most sophisticated trading software, traders provide superior results while ensuring anonymity for clients.  Westlake also has extensive experience trading large blocks of illiquid stocks.

End

For more information please contact, Fleur Robinson, Westlake Securities, Tel 512-314-0703

About Westlake Securities, LLC:

Westlake Securities, LLC is an investment banking firm serving middle-market companies, with offices in Austin, Dallas, Houston and Lafayette.  Westlake’s clients include family-owned businesses, privately held companies, private equity and venture capital funds and publicly traded companies.  Services include equity capital formation, debt placement, merger and acquisition advisory, fairness opinions, valuations and now, research.  Westlake is a member of FINRA and SIPC.  For more information, please visit www.westlakesecurities.com

Finch’s presentation, New Frontiers in Energy, was given in a breakout session for Grant Thornton’s energy industry specialists. The presentation focused on new trends and developments in the energy sector, specifically the natural gas megatrend that is currently driving the North America shale plays.

“What we are witnessing is the beginning of a global revolution in the way we produce energy and power”, said Finch.

“Breakthrough technologies in 3-D subsurface imaging and drilling and production are unlocking enormous energy reserves that were not accessible just a few years ago.

“The shale energy age, which is being pioneered here in North America, will eventually go global as the insatiable demand for power in the developing world accelerates. A recent U.S. government contracted study estimates that there are over 6.6 quadrillion cubic feet of technically recoverable shale gas in 32 countries worldwide. That represents over 50 years worth of global consumption”, said Finch.

”The story here at home in the U.S. is even more compelling. We have over 2.5 quadrillion cubic feet of technically recoverable natural gas, including the shale plays. That represents over 100 years of consumption at the current rate, and eventually puts us ahead of Saudi Arabia as the world’s largest energy producer. This is nothing short of a national security issue.”

In its 2012 Outlook for Energy report, ExxonMobil projects that global electricity demand will increase by over 80% by 2040, and that natural gas will surpass coal as the leading fuel source for power generation. “This projection was the primary impetus behind ExxonMobil’s bet on shale gas in its $41 billion acquisition of XTO Energy, said Finch.

Beyond power generation, Finch predicts significant growth in the number of natural gas powered vehicles over the next 20 years. “There are currently over 15 million natural gas powered vehicles operating worldwide. Less than 150,000 or 1% of those are in North America. If you do the math, a CNG or LNG powered vehicle can be fueled at a $2.00 per gallon diesel or gasoline equivalent. Economics will drive the conversion.”

Finch went on to comment on Westlake’s current view of the energy capital market environment.

“We are seeing increasing transaction flow in both the E&P and energy services sectors. Additionally, enterprise values have continued to increase as we slowly rebound from the financial crisis of 2008. Lenders are returning to more normal credit standards after being extraordinarily cautious through the recent recession. 2012 has been the busiest year ever for Westlake.”
Mr. Finch’s presentation also contained a note of caution.

“Natural gas has the capacity to transform our national fortunes but companies will need to be more transparent and environmentally conscious in the way they extract this resource to maintain a carefully balanced ecosystem.”

Download the full presentation here New Frontiers in Energy Presentation 11.15

Finch was introduced to the group by Brandon Sear, Grant Thornton’s national energy industry practice leader. “It was an honor to be asked to speak to one of the world’s most highly respected accounting firms” said Finch.

“My invitation to Grant Thornton’s Annual Leadership Conference is a reflection of the strengthening relationship between our two firms.” Grant Thornton was the title sponsor of Westlake Securities New Frontiers in Energy Conference in September.

Established in 2003, Westlake Securities has grown from solely investment banking to include capital markets trading services and financial advisory specializing in company valuations and fairness opinions. Managing Director Randy Finch says adding a research offering is a natural extension of the company’s activities.

“Our new research division will complement our capital markets division by providing our institutional clients with unique insights through original research that does not replicate what is already in the marketplace.”

Westlake’s research will be initially focused on the energy and industrial sectors, where the company does the majority of its transactions.

The research team is led by Joel Luton, a respected researcher with experience on both the buy-side and sell-side. Luton’s 30-year career includes overseeing a $6 billion investment-grade industrial corporate portfolio.

“Joel’s approach to research is the key to the value this new service will provide,” Mr. Finch says.

“He focuses on underfollowed and complex situations to find investment opportunities that are likely to outperform the market, in both short and long situations.”

Mr. Luton’s experience in investment research includes high yield, investment-grade, and equity analysis. His previous affiliates have included American General (now a part of AIG), Texas Commerce Bank (now JP Morgan Chase), Rauscher Pierce Refsnes, Inc. (now RBC Dain Raucher, Inc.) and APS Financial.

As APS Financial’s Director of Research for 14 years, Mr. Luton built a seasoned research team and developed a quality and indepth research product that was instrumental in establishing business with a wide variety of institutional accounts. Mr. Luton was a guest lecturer on the high yield/distressed markets for finance classes at The University of Texas at Austin, the institution where he earned his MBA and BBA.

Vice President of Research is Chris McDougall, who has a strong investment and operational background and will be primarily covering the exploration and production sector. Prior to joining Westlake, he was Senior Analyst and Partner at Treaty Oak Capital Management, a long/short energy hedge fund in Austin, Texas with over $700 million under management at its peak.

Prior to Treaty Oak, Mr. McDougall held positions of increasing responsibility at The Dow Chemical Company including Program Manager in Dow Ventures, where he evaluated multiple alternative energy technologies and led a minority equity investment in an alternative energy company. His Bachelor Degree in Chemical Engineering is from Georgia Institute of Technology and his Masters of Business Administration is from University of Texas at Austin. Mr. McDougall is a Chartered Financial Analyst.

Mr. Luton said the Westlake team would take a bottom-up, deep dive approach toward specific investment opportunities, and provide value-oriented recommendations that considered both the upside potential as well as downside risk of potential investments.

“Our risk/return research effort includes a rigorous analysis of a company’s fundamentals through assessment of industry dynamics, corporate and capital structure, leverage, liquidity, cash flows and cash needs. We also assess the strength of the company’s management and competitive position, giving consideration to potential catalysts for price movements in the company’s various securities.”