Hyde Park Capital Announces Sale of Pulsar Technologies to AMETEK, Inc. (NYSE: AME)
Tampa, Florida - February 23, 2006 - Hyde Park Capital Advisors, LLC is pleased to announce the sale of Pulsar Technologies, Inc. (Pulsar) to Paoli, Pennsylvania based AMETEK, Inc. (NYSE: AME). Pulsar, based in Coral Springs, Florida, is a leading designer and manufacturer of specialized communications equipment for the electric utility market. Hyde Park Capital Advisors, LLC, the investment banking subsidiary of Hyde Park Capital Partners, LLC, served as Pulsar's exclusive investment bank in the transaction.
Pulsar is a leading supplier of power line carrier systems for relay communications equipment and fully integrated multiplexer systems for general power and telecommunication applications. This equipment provides communications between power substations for the protective relays on electric power lines to facilitate their operation and provide critical feedback on the faults and functioning of the electric transmission grid. Pulsar joins AMETEK as part of its Electronic Instruments Group (EIG) - a recognized leader in advanced monitoring, testing, calibrating, and display instruments. AMETEK EIG sells its instruments to the process and analytical, aerospace, power, and industrial markets worldwide and had 2005 sales of $808 million. For more information about Pulsar Technologies, Inc., visit their website at www.pulsartech.com or call (800) 785-7274.
"One large benefit of this sale is the access to AMETEK's extensive overseas sales networks," noted Co-President John Benckenstein. "Through these channels, we will continue our current growth trends by spreading Pulsar products across the globe."
"Pulsar is a niche-focused business that broadens our product offering for the electric power market and expands our relationships with key customers in this important market segment," commented AMETEK Chairman and Chief Executive Officer Frank S. Hermance. "The addition of Pulsar's communications hardware complements AMETEK's existing Power Instruments business, which produces power quality monitoring and metering instrumentation."
John M. McDonald, Senior Managing Director of Hyde Park Capital Advisors, LLC, said "Pulsar is an excellent strategic and cultural fit for AMETEK. We are very pleased to have represented Pulsar in this very important transaction for Pulsar shareholders."
About AMETEK, Inc.
AMETEK, Inc. engages in the manufacture and marketing of electronic instruments and electric motors worldwide. It operates in two segments, Electronic Instruments Group (EIG) and Electromechanical Group (EMG). The EIG segment builds monitoring, testing, and calibration instruments, as well as display devices for the process, aerospace, industrial, and power markets. EIG manufactures forcemeasurement and materials testing devices, as well as power measurement and recording instrumentation used by the electric power and manufacturing industries. The EMG segment offers air-moving electric motors for vacuum cleaners and other floor care products, as well as brushless air-moving motors for aerospace, masstransit, and medical and office product markets. For additional information about AMETEK, Inc., visit www.ametek.com.
About Hyde Park Capital
Hyde Park Capital is an institutionally focused private investment bank serving the corporate finance needs of companies primarily in the Southeastern United States. Hyde Park Capital's principals have extensive transaction experience successfully executing merger & acquisition engagements, including purchase and sale of company assignments, recapitalizations, financial advisory, fairness opinions and raising growth capital for companies, including equity, mezzanine and senior debt. Hyde Park Capital has significant experience in the technology, healthcare, financial services, consumer, and industrial sectors, but broadly represents outstanding growth companies in any industry. Hyde Park Capital is one of the most active investment banks in the Southeast and its principals have advised on more than 200 investment banking transactions totaling more than $6 billion in transaction value. Hyde Park Capital is headquartered in Tampa, Florida and is a member of the NASD and SIPC. For additional information about Hyde Park Capital visit www.hydeparkcapital.com or call (813) 383-0202.