Westlake Securities Represents Perseus in the Sale of NxtPhase to AREVA SA
March 4, 2009AUSTIN, Texas - March 4, 2009 - Westlake Securities, LLC, a Texas based middle-market investment bank, has announced the sale of the North American assets of NxtPhase T&D Corporation ("NxtPhase" or the "Company"), a portfolio company of Perseus, LLC ("Perseus"), to AREVA SA (ENXTPA:CEI) ("AREVA"). Westlake Securities advised Perseus and NxtPhase throughout the sale process, including the preparatory, marketing, due diligence and negotiation phases of the transaction. Terms of the transaction were not disclosed.
NxtPhase is headquartered in Vancouver, British Columbia, and has operations in Phoenix, Arizona. The Company is a world leader in combined current/voltage fiber optic products for the control and measurement of electric power. Its core product technologies have been under development for more than 25 years by NxtPhase and its predecessors, Honeywell and Carmanah. Nxtphase is considered a market leader in optical sensor technology with numerous patents issued and a global installed base of products.
AREVA, headquartered in Paris, France, provides technological solutions for carbon dioxide free nuclear power generation and electricity transmission and distribution worldwide. The acquisition by AREVA enables it to leverage NxtPhase's break-through optical sensor technology for instrument transformers, reinforcing AREVA's position as a technology leader and strengthening its commitment to "clean technology".
During a time of great economic uncertainty, Westlake Securities was able to achieve a favorable result for the Company and its shareholders in this transaction. The sale highlights Westlake Securities' expertise in cross border merger and acquisition advisory services and in the energy and technology industries.
About Westlake Securities, LLC:
Westlake Securities, LLC is a Texas-based investment banking firm serving middle market companies, with offices in Austin and Houston. 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.
About Perseus LLC:
Perseus is a principal investment firm specializing in middle market buyouts, recapitalizations, growth equity investments, and later stage venture investments. Perseus manages seven investment funds with capital commitments totaling approximately $2.0 billion. Perseus was founded in 1995 and is based in Washington, D.C. with additional offices in New York, New York; Munich, Germany; San Francisco, California; and New Delhi, India.
About AREVA SA:
With manufacturing facilities in 43 countries and a sales network in more than 100 countries, AREVA is a leader in carbon dioxide free power generation and electricity transmission and distribution. AREVA's T&D division designs, manufactures and supplies a complete range of equipment, systems and services for all stages in the transfer of electricity, from the generator to the large end-user.
