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Services

Services

Westbury Group provides a broad array of investment banking services.

Westbury Group LLC is a FINRA-registered Broker-Dealer investment banking firm located in Westport, Connecticut, dedicated to providing superior financial and strategic advisory services for middle market firms. As a small but disciplined investment bank, Westbury has the flexibility to take on challenging assignments, often involving complex situations that require explanations to buyers or investors. 

We can be flexible in the terms of our engagements, including fee structures, based on the nature of the transaction and the resources of the client.

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Services

Mergers & Acquisitions

Westbury assists clients in all aspects of mergers and acquisitions. We will work with you to evaluate your short-term and long-term objectives, identify an optimal acquisition or disposition strategy and assist your team throughout the transaction process.

For sellers, we have broad networks and deep relationships with both strategic and financial acquirers. For buyers, we have access to sources of capital to facilitate the acquisition.

The firm’s senior officers have participated in numerous transactions including sales, acquisitions, divestitures, capital restructurings, leveraged buyouts, and management buyouts.

Assisting Sellers

Selling a company is a once-in-a-lifetime event for most entrepreneurs and CEOs. Having built a company over the course of their careers, entrepreneurs are naturally anxious to achieve the greatest value at sale for their families, partners, and other stakeholders. They want to make sure that buyers will treat their employees well after the transaction closes. The choice of a strategic or financial buyer enters into the picture as they wrestle with these dilemmas.

Westbury Group’s managing directors have personal and professional experience on all sides of these questions. Many of us have owned and sold businesses. We understand the emotions and analyses that go into the decision-making process. These skills allow us to counsel the CEO or entrepreneur through the critical steps in the process, including, evaluating the “right” time to sell, crafting offering documents and strategic plans that present the company in the best light and negotiating favorable terms.

M&A practices vary by industry. Valuation methodologies and metrics can differ widely for say, a distribution company, compared to a manufacturing firm or a software company. Westbury will only take on an M&A selling assignment when one of our managing directors has a specific understanding of the business to be sold. This allows us to achieve the best price and transaction structure for our client. We have structured earn-outs, deferred payments, and collars for stock consideration that protect our clients and maximize their returns.

Assisting Buyers

The same set of skills combined with our industry knowledge also allows us to assist companies on the buy side. We help companies looking to drive growth through strategic acquisitions utilizing our knowledge of how to structure a transaction. We have extensive experience and resources to assist you in identifying prospective targets and sources of capital. Most importantly, we pride ourselves on our ability to “get the deal done.”

Raising Capital

Equity Fundraising

Westbury professionals have assisted both public and private clients in raising hundreds of millions of dollars in equity capital. Our experience ranges from early stage firms to established corporations. Westbury assists clients with raising from $10 million to hundreds of millions of dollars in capital. Our experience and capabilities include raising capital from venture capital firms, strategic investors, private equity groups and through PIPEs for:

Expansion/Growth Capital

Expansion capital, also known as growth capital, is a form of financing that companies often seek when they are looking to expand their operations, enter new markets, invest in research and development, make acquisitions, or undertake other strategic growth initiatives. Expansion capital can come from the sale of company stock (equity) or from selling equity-like debt instruments, such as preferred stock or convertible debt, which have both debt and equity characteristics. Some investors, such as private equity firms, may bring industry expertise, strategic guidance, and a network of contacts to help the company navigate its growth trajectory. Westbury assists clients in crafting a compelling investment thesis to best attract sophisticated institutional investors; key success factors are a track record of financial performance, detailed growth projections, and a clearly presented business plan that sets out capital will be used to achieve strategic objectives. Westbury also supports its clients in the marketing, negotiation, and due diligence phases of expansion capital investments.

Restructurings

Restructurings involve making significant changes to a company’s financial structure in order to restore the company to financial health. This process often includes debt restructuring, asset sales, and capital reallocation amongst debt and equity holders. Westbury actively assists and guides the company through the restructuring process, negotiating on behalf of the company with banks and other creditors.

Recapitalizations

Recapitalizations strategically improving the overall financial health and flexibility of a business, and are used for three main purposes:

  • Issuing cash dividends to shareholders, i.e., “taking chips off the table”
  • Replacing existing debt high cost debt with new lower-cost financing, and
  • Buying out existing certain shareholders.

Westbury can help put together a recapitalization strategy to optimize cash flow, reduce debt burdens, and unlock value for shareholders.

Management/leveraged buyouts

A leveraged buyout (LBO) involves purchasing a company using a significant amount of borrowed funds, typically leveraging the assets of the target company as collateral. This strategy allows the buyer to acquire the business with minimal equity investment upfront. While LBOs can offer opportunities for rapid growth and profitability, they also carry substantial financial risks due to the high level of debt involved. Westbury Group carefully assesses the target company’s financial health and potential for future performance to structure the debt in a way the maximizes the buyer’s return on equity, while keeping risk at a manageable level.

Going private transactions

Westbury assists companies in executing transactions for publicly-held companies seeking to transform into a privately-held entity. Such transactions tend to be complex, involving various legal, financial and regulatory considerations. Specifically, successful going private transaction require extensive due diligence and valuation expertise where achieving a fair valuation is critical to success. In addition, such transactions involve financing through both equity and debt as well as restructuring initiatives and thorough knowledge of SEC and stock exchange regulations.

Raising Capital

Debt Fundraising

Combined with our expertise in financial structuring, our seasoned professionals have strong relationships with many sources of capital including banks, finance companies, pension funds, insurance companies, private equity firms, mezzanine and venture capital funds. In the past our clients have used the following debt instrument:

Senior Secured & Unsecured Debt

Senior secured and unsecured debt are types of corporate borrowing with varying levels of risk for investors. Senior secured debt takes precedence in repayment over other debts in the event of bankruptcy, backed by specific collateral. This makes it a lower-risk investment, often resulting in lower interest rates. The opposite is true for unsecured debt. Westbury assists its clients in making informed decisions based upon their risk tolerance and expectations.

Subordinated Debt

Subordinated debt is a loan that ranks below senior debt in terms of priority for repayment in case of default. This lower priority results in higher interest rates to compensate investors for the increased risk. Subordinated debt is a vital component for fueling growth and strategic initiatives in the lower middle market. Westbury’s deep understanding of the unique financial landscape of emerging growth companies ensures subordinated debt terms and structures that enhance the client’s financial flexibility and growth prospects.

Mezzanine & High-Yield Debt

Mezzanine debt typically sits between senior debt and equity in the capital structure and is often used to finance growth, acquisitions, or buyouts. It carries higher interest rates and may include equity warrants, providing potential upside participation. High yield debt offers lenders higher yields to compensate for increased risk. Despite the higher risk, such a loan may make sense for a borrower, because the shareholders do not incur equity dilution. Westbury’s extensive industry knowledge and investor relationships enable it to execute mezzanine and high yield debt transactions tailored to its clients’ unique needs, ensuring competitive costs of capital to finance their growth strategies.

Cash-Flow Based Loans

Through our extensive network, relationships, and experience, Westbury is able to assist clients in raising debt through cash-flow based loans. Cash-flow based loans are financial instruments where a borrower’s repayment ability is determined by their cash flows and cash flow projections rather than collateral. These loans are particularly useful for companies that lack the physical assets that would otherwise be used as collateral.

Asset-Based Loans

Asset-based lending (ABL) is a financing tool that allows businesses with strong balance sheets to leverage their assets for working capital or other business activities. Asset-based loans are secured by tangible assets, such as accounts receivable, inventory, equipment, and real estate. The pledged assets serve as collateral, providing security for the lender in case of default. Unlike cash-flow loans, ABL facilities don’t typically have operating covenants; this can provide more flexibility for businesses with seasonal revenue cycles or in turn-around situations. Westbury assists clients in determining if asset-backed loans are a good option for them from a range of liquidity solutions, and then supports clients in negotiating loans with qualified lenders that specialize in ABL.

Working Capital Facilities

Working Capital Loans provide short-term funding to cover operational expenses, allowing businesses to manage day-to-day operations smoothly. These loans are typically collateralized by the receivables and inventory of the Company and are generally furnished as revolving lines of credit. By collateralizing these assets, companies secure funding for working capital needs. These loans enable businesses to unlock liquidity tied up in outstanding invoices and inventory, supporting further inventory purchases, payroll, and other immediate cash needs.

We specialize in developing creative solutions to challenging financing problems. Contact us and let us help you bring your company successfully through its next transition.

We specialize in developing creative solutions to challenging financing problems. Contact us and let us help you bring your company successfully through its next transition.

Strategic Counsel & Advisory Services

Advisory & Consulting Services

Often a client’s interests are best served by repositioning and rationalizing the company prior to raising capital or embarking on an M&A process. In such circumstances, Westbury provides retained or project-based financial advisory and business consulting services to both public and privately-held middle market companies, and portfolio companies sponsored by private equity funds. Drawing upon the team’s broad experience, Westbury provides a range of consulting and advisory services similar to those typically given by private equity firms to their portfolio companies.

Westbury works with clients to develop sophisticated business, strategic and financial plans based on extensive examination of and collaboration with management.

Westbury often provides these services to companies preparing themselves for raising additional growth capital or for a potential change of control transaction.

Services may include: 

Strategic Management Consulting (preparing for a transaction)

Westbury often works with companies to help them prepare for raising additional growth capital or for a potential change of control transaction, helping develop business, strategic and financial plans based on extensive examination of and collaboration with management. Drawing upon the team’s broad experience, Westbury provides a consulting and advisory services similar to those typically given by private equity firms to their portfolio companies. Westbury’s emphasis is not only on identifying key actions to take to increase a company’s valuation and attractiveness, but also on implementing those actions.

Equity Capital Markets Advisory Services

Westbury delivers comprehensive Equity Capital Markets advisory services which prepare company managements for accessing equity capital, typically for initial public offerings and follow-on equity financings. We prepare prior to, during and after a transaction by advising regarding capital structure, valuation, corporate governance, preliminary documentation, syndicate structure, fees, marketing message, order tracking, allocations to investors, pricing and aftermarket trading. All of these disciplines empower management to optimize value on behalf of shareholders.

Fairness Opinions

Westbury Group specializes in delivering comprehensive fairness opinions tailored to meet our clients’ fiduciary responsibilities to assure that business decisions are made on a good faith, honest basis in the best interests of the company and its stakeholders. 

Backed by extensive business expertise and meticulous analysis, we provide independent, impartial, defensible assessments that are in line with regulatory standards and best practices.

TRANSACTIONS WHERE A FAIRNESS OPINION MAY BE NEEDED

  • Selling to an unsolicited bidder without going through a formal investment banking sale process
  • Deals with multiple bids involving varying forms of purchase price consideration
  • Significant divestitures or recapitalizations
  • Deals where there are different classes of stakeholder interests
  • Deals where stakeholders’ and directors’ interests are not aligned
  • Transactions involving related parties
  • Selling company with an ESOP
  • Going private transactions

Valuations

Westbury’s valuation professionals apply decades of business knowledge and expertise with the application of accepted valuation methodologies to provide independent business and asset valuations. Our valuation analyses support strategic decision-making for mergers & acquisitions, recapitalizations, and other strategic planning purposes.

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Here For You

Why Us

These are key factors that help drive Westbury’s success.

Proven Track Record

We have a proven track record of meeting clients’ goals and objectives, and closing deals expeditiously.

Focused and Dedicated Senior Resources

You will receive committed attention from senior professionals throughout the transaction process. Westbury offers large firm sophistication coupled with boutique firm attentiveness.

Broad Access to Investors and Strategic Buyers

Westbury possesses an expansive network and deep relationships with leading institutional investors and strategic buyers. We access the “right” parties for our clients.

Middle Market Focus

We pride ourselves on our deep understanding of the unique needs and objectives of middle market companies.

Financial Advisory Experience

Our professionals have extensive experience in, and knowledge of, the critical aspects of private capital markets and mergers & acquisitions.

Our bankers have:

• Expertise in both strategic and financial transactions.
• Understanding of the priorities, concerns and tactics of potential partners.
• Creative vision to build consensus between clients and investors.

Client Dedication

Westbury is dedicated to helping its clients meet their corporate finance and strategic objectives. We only accept a limited number of client engagements to ensure high quality service and satisfied clients.

Hands-On and Knowledge-Driven Execution

Westbury takes a hands-on, analytically-driven approach to leverage our clients’ management time and to improve the certainty and timing of closing. Our firm offers a highly collaborative process to address the unique aspects of clients’ industries and businesses and to develop financial, M&A and growth strategies based on rigorous quantitative analysis and modeling.

Creative and Customized Solutions

We tailor each engagement to meet the specific personal and business goals of our clients; our primary goal is to execute the best transaction possible for our client.

Focus on Maximizing Shareholder Value

We focus on identifying strategic value, assessing market opportunities, and positioning our clients with prospective buyers or investors to realize the highest possible value.

Registered FINRA Broker-Dealer

Westbury Group is a licensed broker-dealer with the Financial Industry Regulatory Authority (FINRA).