Sadler's Bar-B-Que Sales Completes Leveraged Recapitalization
November 20, 2007AUSTIN, TX - November 4, 2007 - Westlake Securities, LLC is pleased to announce that Sadler's Bar-B-Que Sales, Ltd. ("Sadler's") has completed a leveraged recapitalization led by Brazos Private Equity Partners, LLC. Westlake Securities served as exclusive financial advisor to Sadler's on the transaction, which closed on October 23, 2007.
Sadler's, based in Henderson, Texas, is the leading North American producer of authentic, high-quality smoked meats including brisket, chopped/shredded products, ribs and other ready-to-eat barbecue related products. The Company's products are distributed and sold to consumers through retail grocery and restaurant chains and other branded food processors.
"Westlake Securities represented Sadler's with a high degree of integrity and professionalism" said Jason Flanagan, Sadler's Chief Operating Officer. "It means a lot to have an investment banker that you can trust to look after your interests and add value in a challenging and complex process."
"The recapitalization of Sadler's gives the owners of this family-owned business significant liquidity for diversification of their net worth, and their retained equity allows them to share in the future success of the Company" said Randy Finch, Managing Director of Westlake Securities. "Brazos Private Equity should be an excellent partner in continuing to build the business."
Westlake Securities, LLC is an Austin, Texas-based investment banking firm serving middle market companies. Westlake's clients include family-owned businesses, privately held companies, private equity and venture capital funds and publicly traded companies. Westlake's Services include equity and debt placements, merger and acquisition advisory, and financial advisory (valuation and fairness opinion) engagements. Westlake is a member of FINRA and SIPC.
