Yearly Archives: 2003

Edgewater Leads $38 Million Financing for Westar

Westar Aerospace and Defense Group (“Westar”), a leading defense IT services company announced today $38 million of equity and debt financing led by the Edgewater Funds (“Edgewater”) with participation by Mesirow Financial’s Private Equity Division (“Mesirow Financial”). This investment allows the Company to complete its acquisition of ELMCO Incorporated (“ELMCO”), as well as provides substantial additional growth capacity.

Westar provides services to Department of Defense and defense industry customers in the areas of: simulation and modeling, information technology, systems engineering, acquisition program support, and logistics services. In addition, Westar has product businesses that manufacture aerospace filtration systems and flat panel display capital equipment. The Company was founded in 1986 and has grown consistently to a business with over 800 employees and $106 million in annual revenue.

“With ELMCO as our third acquisition plus the growth capital infusion and management leadership from Edgewater, we’re well on our way to achieve our vision in both revenue and market leadership terms,” according to Rob Topping, Westar’s President. “The Edgewater and Mesirow Financial team is an invaluable contributor to our strategy.”

“We are very excited to have the opportunity to invest in Westar,” said Jim Gordon, Managing Partner at the Edgewater Funds. “Westar fits squarely within Edgewater’s core investment philosophy to invest in high quality growth companies with superior management teams. These factors, as well as Westar’s breadth of services, excellent reputation and longstanding customer relationships help to propel what we feel is an exceptional investment opportunity.”

Westar used CIBC World Markets as its financial advisor for the investment.

Symantec Completes PowerQuest Acquisition

Symantec Corp. (Nasdaq: SYMC), the world leader in Internet security, today announced that it has completed the acquisition of PowerQuest Corporation. The acquisition of PowerQuest is another key component of Symantec’s strategy to deliver integrated solutions that help enterprises of all sizes manage their information technology, including the security of the myriad of computing devices used in today’s connected environment.

The acquisition of PowerQuest, combined with Symantec’s enterprise administration solutions, significantly broadens the enterprise security management options for customers. This acquisition will enable Symantec to deliver solutions that allow customers, for the first time, to build, manage, and protect their IT infrastructures with true end-to-end security management capabilities.

About Symantec 

Symantec is the world leader in providing solutions to help individuals and enterprises assure the security, availability, and integrity of their information. Headquartered in Cupertino, Calif., Symantec has operations in more than 40 countries. More information is available at www.symantec.com.