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LaBarge to Acquire Pinnacle Electronics
February 11, 2004 |Estimated reading time: Less than a minute
St. Louis and East Pittsburgh, Pa. — LaBarge has entered into a letter of intent to acquire Pinnacle Electronics LLC.
Pinnacle, a profitable, privately held contract electronics manufacturer, designs, engineers and manufactures printed circuit assemblies, cables and harnesses, full "box-build" assemblies and electronic/electromechanical systems for customers in a variety of industrial, non-military markets. Pinnacle, operating on a calendar year, had 2003 revenues of approximately $38 million. Pinnacle is owned by Main Street Capital Holdings LLC and members of management, and operates one manufacturing facility in the Pittsburgh area.
LaBarge expects the acquisition to be immediately accretive to earnings per share. The transaction is expected to close by the end of February and is subject to the satisfactory conclusion of due diligence, finalization of financing, finalization of definitive agreements and other customary terms and conditions.
LaBarge Inc. is a broad-based provider of electronics to technology-driven companies in diverse industrial markets. For more information, visit www.labarge.com.
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