Piezoelectric Products East
Piezo East, based in Metuchen , New Jersey , a division of Gulton Industries, Inc., a NYSE listed company, is a developer and manufacturer of piezoelectric ceramics and thermistors. Its systems are primarily used in sensing and alarm applications that include medical and automotive sensors and home intrusion detection and smoke alarms.
Piezo Electric Products, Inc., a publicly traded company based in Cambridge , Massachusetts , provides solutions for electronics heat transfer and a wide range of applications requiring solid state sensor/actuator devices.
OEM Capital was engaged to assist Gulton Industries, Inc. in finding a buyer for its Piezo East business. The business no longer fit with the parent’s strategic objective to move away from an electronics component oriented business. With our advice, the division brought its expenses in line with revenues and we initiated a competitive sale process.
OEM Capital’s presentation of the company’s value and our knowledge of the industry secured several interested parties. When we were approached by a customer that had recently gone public and wished to secure a manufacturing facility, we devised a due diligence program which did not disclose proprietary information prior to closing. Gulton Industries, Inc. received a premium price for its business and was relieved of all labor contract liabilities to its unionized employees.
Our success with Gulton Industries, Inc. illustrates that, whether a business is healthy or distressed, superior valuations can be realized for the selling shareholders by a well executed approach to a sale or divestiture by merger and acquisition professionals who are knowledgeable about the industry and the intentions of its participants.