Westlake Securities
Westlake Securities is an Austin, Texas-based middle-market investment bank focused on M&A advisory and private capital raising. It launched an institutional equity research division in 2012, initially covering energy and industrial companies.
Activity24M
RatingsPrice targetsKey figures
- Stocks covered
- 012M
- Actions
- 012M
- On record
- Feb 2013 – Dec 2024
Overview
Westlake launched an institutional research division in October 2012 under Joel Luton, focusing on energy and industrial companies, with a dedicated exploration and production analyst. Its current services center on M&A, capital raising and growth advisory. As of 2026, Matt Andersen's Intentional Growth framework is a core service: it starts with the owner's desired outcome and works backward to the steps needed to achieve it. The framework holds that preparing a business as though it may be sold can improve its quality even if no sale takes place.
Westlake Securities was established in Austin in 2003 and registered as a broker-dealer in August of that year. It grew from investment banking into capital markets trading, valuation and fairness-opinion work, with offices in Austin, Dallas, Houston and Lafayette by 2012. The firm withdrew its broker-dealer registration in 2017; it continues as an M&A and capital-raising advisor whose securities business is conducted through FNEX Capital, an unaffiliated broker-dealer.
Milestones
- 2003
Founded in Austin, Texas; registers as a broker-dealer
- 2012
Launches institutional equity research division
- 2017
Withdraws FINRA broker-dealer registration
Firm facts
- Legal name
- Westlake Securities, LLC
- Type
- Boutique
- Founded
- 2003
- Headquarters
- Austin, United States
- CEO
- Matt Andersen
- Website
- westlakesecurities.com
Research philosophy
Our risk/return research effort includes a rigorous analysis of a company's fundamentals through assessment of industry dynamics, corporate and capital structure, leverage, liquidity, cash flows and cash needs.
At its 2012 research launch, Westlake described a detailed, company-by-company approach to underfollowed stocks and complex situations. Its analysts sought value in both long and short recommendations, assessing potential losses alongside potential gains.
Most covered24M
| Stock | Rating | Target |
|---|---|---|
| VRThe Glimpse Group, Inc.VRAR | Buy | — |
Recent actions
| Date | Stock | Rating action | Rating |
|---|---|---|---|
| Dec 20, 2024 | VRThe Glimpse Group, Inc.VRAR | Reiterate | Buy |
| Feb 21, 2013 | DWDawson Geophysical CompanyDWSN | Reiterate | Buy |