AUSTIN, Texas, Oct. 2, 2012 /PRNewswire/ -- Westlake Securities, LLC is pleased to announce the sale of Maxim Silencers, Inc. and Silex Innovations, Inc. ("MaximSilex") to Industrial Acoustics Company, Inc. ("IAC"), a portfolio company of AEA Investors (UK) LLP.
Westlake Securities advised MaximSilex throughout the sale process, including the preparatory, marketing, due diligence and negotiation phases of the transaction. Terms of the transaction were not disclosed.
MaximSilex specializes in the design, manufacture and supply of a range of silencing and emissions control products, including industrial silencers, catalytic converters and exhaust accessories for diesel and natural gas engines. The company also offers advanced software engineering to enhance the design and selection of exhaust systems. IAC is the world's leading supplier of noise and acoustic control products, structures, test facilities and aero-engine testing solutions.
MaximSilex's President, Robert Cone, said, "Westlake's team, led by Randy Finch, went above and beyond the call of duty for our family. Their knowledge of the market and professionalism made a challenging process more manageable. They helped us weather the emotional stress of selling a family company."
Randy Finch, Partner and Managing Director of Westlake Securities, said the deal was an excellent strategic fit. "IAC's acquisition of MaximSilex strengthens the UK based company's position in the North American noise control market for the power, oil, gas, marine, transport, pneumatic conveying and industrial vacuum industries. MaximSilex has well developed customer relationships throughout the U.S. and Canada.
"Global industrialization and related environmental concerns and regulations present a unique opportunity for companies like IAC. This will be a robust business moving forward."
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 and valuations. Westlake is a member of FINRA and SIPC. For more information, please visit the Westlake website at www.westlakesecurities.com
SOURCE Westlake Securities, LLC