Flam & Russell
Flam & Russell, Inc., a closely held company based in Horsham, Pennsylvania, is a developer and supplier of instrumentation systems and test ranges for the measurement of antenna performance and the characterization of electro-magnetic reflectivity properties of objects. Its systems are used worldwide in commercial and defense oriented applications ranging from developing ‘smart’ antennas for wireless communications to measuring the radar cross section of stealth aircraft.
Orbit Advanced Technologies, Inc., is a US based, wholly owned subsidiary of Orbit Advanced Technologies, Ltd. (Israel), a publicly traded manufacturer of airborne radio communications, antennas, radar and avionics equipment.
OEM Capital was engaged to assist Flam & Russell in finding a buyer for its business. The company’s government business was in decline due to reduced defense budgets. With our advice, the company 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 multiple bidders. When we negotiated the best offer from a direct competitor, we devised a due diligence program which did not disclose proprietary information prior to closing. The sellers received a premium price for their shares independent of future performance and were relieved of their obligations on all liabilities.
Our success with Flam & Russell 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.
EVG Inc.
EVG, Inc., a closely held company based on Long Island, New York, is a specialty distributor of electronic and audio components for the communications and radio and television industries. Its two shareholder founders had, a few years earlier, repurchased the business from a NYSE listed company when EVG no longer met the parent’s strategic interests and they now wished to retire.
Russell Industries, Inc., a closely held company based on Long Island, New York, is a distributor of electronic components that are sold to a similar group of customers.
OEM Capital was engaged to assist EVG, Inc. in finding a buyer for the company. In order to realize maximum value for the selling shareholders, we structured the transaction in a way that gave the buyer the benefits of added sales volume without the obligation of costs that might arise from a facility shutdown. We also carefully restricted sensitive information on our client’s customers and invoicing details so as not to jeopardize EVG’s business should the transaction fail to materialize.
OEM Capital’s success with EVG 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.
Crystek Crystals Corp.
Crystek Crystals Corporation, a wholly owned subsidiary of Whitehall Corporation, located in Fort Myers, Florida is a manufacturer and value-added reseller of high frequency quartz crystals and oscillators which are sold directly to original equipment manufacturers of communications and computer equipment and distributors of electronic components. Whitehall Corporation is a NYSE listed company whose primary business is in aerospace maintenance, repair and refurbishment services and, through a joint venture, also manufactures and installs jet engine noise reduction products.
Crystek Acquisition Corporation, a privately-held company located in Pittsburgh, Pennsylvania, was organized by Allegheny Financial Group, Ltd. for the specific purpose of acquiring Crystek. Allegheny is also a significant investor in Crystek Acquisition Corporation
OEM Capital was asked to assist Whitehall in finding a purchaser for Crystek. Whitehall wished to concentrate its management attention and corporate resources on growing its core aerospace business. In addition, Whitehall Corporation believed that if it was viewed by investors as having a single strategic focus, the market price of its common shares could increase.
OEM Capital developed a marketing program which exploited our industry contacts as well as our contacts with individuals and buyout firms whose interests were known to us. Our presentation of the company’s value to both strategic and financially oriented acquirers secured multiple bidders.
Our success with Crystek illustrates that, whether a business is healthy, under performing 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.
Aspex Corporation
Aspex, LLC, a closely held company based in Delmont, Pennsylvania, is a developer and supplier of fully integrated solutions for automated particle characterization. Its field deployable systems integrate electron microscopy (for geometric measurement) and spectral analysis (for material identification) with proprietary particle characterization software and customized interfaces for each customer’s application. Aspex’s proprietary systems are increasingly being used by technicians worldwide in pharmaceutical, automotive and defense oriented applications for assuring critical cleanliness quality control.
Industrial Technology Ventures, L.P. is a $50 million fund sponsored by Cordova Ventures and HSB Engineering Finance Corporation (a subsidiary of HSB Group/AIG). The fund invests in expansion, mid and late stage companies with proven management teams and proprietary technologies.
OEM Capital was engaged to assist Aspex, LLC in finding a buyer for the company. Two private equity firms had sponsored partnerships that been investors in Aspex and its predecessor company for several years and wished to exit. Aspex had revamped its strategic direction a few years earlier and was enjoying recent successes from winning a competitive award for a key US Air Force jet engine maintenance contract and having its new systems qualified by a number of world class companies. However, although the company’s new applications could result in the deployment of a substantial number of systems, the applications for its unique products were still in a relatively early stage of market acceptance and Aspex desired to secure greater substantial sales and distribution resources so as to realize its full potential.
OEM Capital’s success with Aspex 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.
Aspex LLC
Aspex, LLC, a closely held company based in Delmont, Pennsylvania, is a developer and supplier of fully integrated solutions for automated particle characterization. Its field deployable systems integrate electron microscopy (for geometric measurement) and spectral analysis (for material identification) with proprietary particle characterization software and customized interfaces for each customer’s application. Aspex’s proprietary systems are increasingly being used by technicians worldwide in pharmaceutical, automotive and defense oriented applications for assuring critical cleanliness quality control.
Industrial Technology Ventures, L.P. is a $50 million fund sponsored by Cordova Ventures and HSB Engineering Finance Corporation (a subsidiary of HSB Group/AIG). The fund invests in expansion, mid and late stage companies with proven management teams and proprietary technologies.
OEM Capital was engaged to assist Aspex, LLC in finding a buyer for the company. Two private equity firms had sponsored partnerships that been investors in Aspex and its predecessor company for several years and wished to exit. Aspex had revamped its strategic direction a few years earlier and was enjoying recent successes from winning a competitive award for a key US Air Force jet engine maintenance contract and having its new systems qualified by a number of world class companies. However, although the company’s new applications could result in the deployment of a substantial number of systems, the applications for its unique products were still in a relatively early stage of market acceptance and Aspex desired to secure greater substantial sales and distribution resources so as to realize its full potential.
OEM Capital’s success with Aspex 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.
inTEST Corporation Acquires Acculogic Inc.
OEM Capital was asked by inTEST Corporation., a publicly traded company (NYSE:INTT) headquartered in Mt. Laurel, New Jersey to help in its acquisition program. inTEST is a global supplier of innovative test and process solutions for use in manufacturing and testing across a wide range of markets including automotive, defense/aerospace, industrial, medical, semiconductor and telecommunications.
As a result of OEM Capital’s involvement, inTEST was able to acquire the business of Acculogic Inc. based in Markham, Canada. Acculogic designs, manufactures, and markets systems and instruments for testing electronic devices, circuit boards, and systems.
Z-Sciences Corp.
OEM Capital was asked by inTEST Corporation., a publicly traded company (NYSE:INTT) headquartered in Mt. Laurel, New Jersey to help in its acquisition program. inTEST is a global supplier of innovative test and process solutions for use in manufacturing and testing across a wide range of markets including automotive, defense/aerospace, industrial, medical, semiconductor and telecommunications.
As a result of OEM Capital’s involvement, inTEST was able to acquire the business of Z-Sciences Corp. based in Montreal, Canada. Z-Sciences is a manufacturer and distributor of low-temperature medical chillers.
OEM Capital is a 35-year old technology investment banking firm that provides investment banking services to both public and private companies. Its staff members are all FINRA registered. Services offered include strategic advisory, assistance with mergers and acquisitions, institutional private placement of debt and/or equity, recapitalizations, financial restructurings, and fairness opinions.
OEM Capital’s success with Z-Sciences Corp. illustrates that client objectives can be met by a well-executed approach to a sales program led by investment banking professionals who are knowledgeable about the industry and the intents of its participants.
Videology Imaging Systems, Inc.
OEM Capital was asked by the shareholders of Videology Imaging Solutions, Inc. a privately-held company headquartered in Greenville, Rhode Island, to assist in their liquidity realization objectives. Videology designs, manufactures and sells camera systems for various industries.
inTEST Corporation., is a publicly traded company (NYSE:INTT) headquartered in Mt. Laurel, New Jersey. inTEST is a global supplier of innovative test and process solutions for use in manufacturing and testing across a wide range of markets including automotive, defense/aerospace, industrial, medical, semiconductor and telecommunications.
As a result of OEM Capital’s involvement, Videology shareholders were able to realize their financial objectives in a timely manner.
OEM Capital is a 35-year old technology investment banking firm that provides investment banking services to both public and private companies. Its staff members are all FINRA registered. Services offered include strategic advisory, assistance with mergers and acquisitions, institutional private placement of debt and/or equity, recapitalizations, financial restructurings, and fairness opinions.
OEM Capital’s success with Videology illustrates that client objectives can be met by a well-executed approach to a sales program led by investment banking professionals who are knowledgeable about the industry and the intents of its participants.
Vishay Precision Group, Inc.
OEM Capital was asked by Vishay Precision Group, Inc. a publicly traded company (NYSE:VPG) headquartered in Malvern, Pennsylvania, to assist it in their acquisition program. VPG is an internationally recognized designer, manufacturer and marketer of sensors, systems and components based on its resistive foil technology, specializing in stress, force, weight, pressure, and current measurements.
Diversified Technical Systems, Inc., a privately held company headquartered in Seal Beach, California, is a manufacturer of miniature data acquisition systems, data loggers, sensors and associated software.
The transaction price is approximately $47.0 million, subject to customary post-closing adjustments. In 2020, DTS achieved sales of approximately $32 million and an EBITDA margin in excess of 25%.
OEM Capital worked closely with VPG C-level executives to identify strategic acquisitions that could benefit from its existing product portfolio, as well as the sales and distribution resources required to propel the sale of products on a more global scale. As a result of our involvement, VPG was able to realize its objectives in a timely manner.
OEM Capital (www.oemcapital.com) is a 35-year old technology investment banking firm that provides investment banking services to both public and private companies. Its staff members are all FINRA registered. Services offered include strategic advisory, assistance with mergers and acquisitions, institutional private placement of debt and/or equity, recapitalizations, financial restructurings, and fairness opinions. OEM Capital’s success with Vishay Precision Group, Inc. illustrates that client objectives can be met by a well-executed approach to a curated acquisition program led by investment banking professionals who are knowledgeable about the industry and the intents of its participants.