# 1

Lower Middle Market Deal Volume

$ 1 B+

Transaction Value Closed

Companies Advised

WHAT WE DO

Liquidity and Exit Planning

Intentional Liquidity isn’t one-size-fits-all. Depending on where you are in your journey and what outcome you’re building toward, the right path may look very different. We help middle-market companies access liquidity in 2 key ways:

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Majority Exit

Full Sale / Majority Recapitalization

Our flagship liquidity service. We manage the complete sale process, from positioning and preparation through buyer sourcing, negotiation, and close. We run a competitive, structured process designed to surface maximum value and protect your interests at every stage.

Best for: CEOs ready to pursue a full exit or majority recapitalization

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Partial Exit

Partial Sale / Minority Recapitalization

Take chips off the table while retaining meaningful equity and continuing to lead the business. A minority recapitalization or partial sale with a private equity partner can provide liquidity today while positioning you to capture even more value in a future transaction.

Best for: CEOs who want liquidity now without a full exit

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Intentional Liquidity in Action

Case Study: From a $60M Unsolicited Offer to a $97M Close

When a manufacturing company received an unsolicited offer of $60M, it felt like the number. To most people, it probably looked like a win. But our team saw something different: a business that wasn’t ready for market, and a buyer who knew it.

We worked alongside the leadership team for 24 months professionalizing the financials, tightening operations, and positioning the company for a competitive, structured process. The result wasn’t just a higher number. It was a fundamentally different outcome: a process the seller controlled, a buyer pool that competed for the deal, and a close that reflected the true value of what had been built.

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$97M

Final Close Price

+61%

Premium Over First offer

<7MO

Time-to-Close

7.6×

EBITDA Multiple

RECENT TRANSACTIONS

Liquidity Advisory Transactions

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Frequently Asked Questions

Questions?

Here are a few quick answers to some of our most asked questions.

What is Intentional Liquidity?

Intentional Liquidity is Westlake's advisory framework for founders and CEOs who are approaching a liquidity event, whether that's a full exit, a partial recapitalization, or a capital raise. After advising on $6.7B+ in transactions across 400+ middle market companies over 23+ years, we built our liquidity advisory practice for CEOs who are serious about capturing maximum value on their terms.

We offer two paths to liquidity: (1) full sell-side advisory, which includes all aspects of a structured sale process; (2) partial sale and recapitalization, for CEOs who want liquidity now without a full exit.

What types of liquidity transactions does Westlake advise on?

We advise on the full range: full exits and sell-side M&A, minority recapitalizations and partial sales, growth capital raises, management buyouts, and debt advisory. The right structure depends on your goals, whether that's maximizing proceeds today, taking some chips off the table while retaining upside, or bringing in a partner to accelerate growth. We help you think through the options before recommending a path.

When is the right time to start a conversation with Westlake?

Earlier than most owners think. The best outcomes come from businesses that spent 12 to 24 months preparing before going to market, addressing value gaps, professionalizing financials, and reducing risk factors that buyers discount. If you're three years from a potential exit, now is the right time to talk. If you're actively fielding unsolicited offers, it's urgent.

What industries does Westlake work in?

We work across the middle market with particular depth in manufacturing and industrials, food and beverage, business services, infrastructure services, construction, and technology-enabled businesses. Our buyer relationships span both financial buyers, private equity, family offices, and search funds, and strategic acquirers across these sectors.

What does the process look like from first conversation to close?

A typical sell-side engagement runs five to eight months from launch to close. It begins with marketing preparation, financial modeling, CIM and teaser development, and buyer list compilation. From there we move to confidential outreach, management presentations with shortlisted buyers, LOI negotiation, and diligence through closing. We manage every stage. You focus on running your business.

What makes Westlake's sell-side process different from other investment banks?

Most investment banks hand you off to junior staff after the engagement letter is signed. At Westlake, senior advisors are in the room for every critical conversation, from buyer meetings to LOI negotiation to closing. We also run a genuinely competitive process, not a one-buyer negotiation dressed up as a process. That competition is what moves multiples. Our track record reflects it: we regularly close transactions significantly above the first offer a seller received before engaging us.

OWNER / CEO Note

“Most owners only get one chance to sell their business. The ones who capture full value aren’t luckier than the rest, they were more prepared, and they ran a better process.” — Matt Andersen

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QUICK LINKS >>

Sell-Side M&A

Capital Placements

Buy-Side M&A

Intentional Growth

Growth Advisory

Ready to Build Sustainable Enterprise Value?

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Direct: (512) 314.0716

Our team is here to help you navigate growth, transitions, and strategic opportunities through tailored advisory services. When the stakes are high, our team brings the experience to move with confidence.

Investment Banking for the Middle Market