November 2, 2015: Diamond Capital Advisors, a leading, Los Angeles based, middle market investment bank, announces the successful sale of Wesanco to ZSi-Foster.

Wesanco was founded by Wesley Shyer in 1973, to supply builders throughout the South Western United States with metal struts. products and ancillary products. Today, its core business includes creating, manufacturing and selling metal framing channel. They are used as the primary framing material for the construction of non-residential buildings because they offer predictable value for the building owner in terms of initial framing systems costs, overall project cots, and long-term benefits.

ZSi-Foster is a manufacturer of clamping and coupling devices that are attached to pipe, tube and hose to prevent vibration, shock, surge and corrosion. The company offers a full breadth of product serving the general industrial, fluid power, HVAC, refrigeration and electrical markets. ZSi-Foster is headquartered in Canton, Michigan and has an additional facility in Springfield, Missouri.

When Wesley suddenly passed away, his wife wanted additional liquidity and to reduce her risk since most of her assets were in the value of the business. There were competing family interests and the Diamond Team was able to resolve these conflicts and get an above average price for the company. Our presentations resulted in several favorable bids, and when one of the potential acquirers proved difficult during the due diligence process, we were able to get a very competitive offer from ZSi-Foster, a company in the industry who understood the potential of the seller.

Diamond was able to structure and negotiate a transaction that not only provided the family financial security, but also preserved the jobs of all the people who work at Wesanco, and who the Shyer’s considered to be their extended family.

“Diamond understood our desire to protect our employees, while providing the Shyer family a successful transition from ownership of the business,” said Andy Shyer.