Dresner Partners Advises ARRIS Group, Inc. on the Divestiture of Its Subsidiary, Electronic Connecter Corporation, to Eclipse...
April 04 2012 - 3:34PM
Marketwired
Dresner Partners, a leading FINRA-registered, middle-market
investment bank, recently advised ARRIS Group, Inc. (NASDAQ: ARRS)
on the divestiture of its subsidiary, Electronic Connecter
Corporation (ECCO), to Eclipse Embedded Technologies. Terms of the
transaction were not disclosed.
Located in Chicago, Illinois, ECCO is a leading distributor and
value added assembler of niche electronic connectors and
accessories to OEMs and distributors across a wide range of
industries and geographies as well as to the U.S. government.
"This is a great opportunity for our customers and suppliers,
and will bring additional new skills in demand creation, marketing,
and value added capabilities to our team," said Chuck Engvall,
Chief Operating Officer at ECCO.
Along with Engvall's 30 plus years of leadership experience,
ECCO will benefit from the distribution experience of Eclipse
founder, Bernard Gizzi. "The financial stability and industry
tenure of ECCO is impressive," stated Gizzi. "Going forward, I will
be working with Chuck to support the further growth of the company
as we meet the ever increasing needs of our customers and suppliers
for new product design, innovation, and business expansion."
"This transaction represents a win-win outcome for all involved.
ARRIS is very pleased with the results and we also believe that
Eclipse is a strong fit for Chuck and his team. We thank Dresner
Partners, and the team led by Paul Hoffman, for finding a great
buyer for ECCO and conducting a thorough and well coordinated
process," said Larry Margolis, ARRIS' Executive Vice President of
Strategic Planning, Administration and Chief Counsel.
"It was a pleasure working with ARRIS, ECCO as well as Eclipse
in pulling this deal together," said Paul Hoffman, Senior Vice
President at Dresner Partners. "ECCO's market position and strong
track record combined with Eclipse's strategic vision and industry
relationships provide a great opportunity for the combined entity
to further penetrate the electronic connector niche."
Steven Dresner, President at Dresner Partners said, "ECCO has an
excellent reputation for offering a unique and broad portfolio of
niche, high quality electronic connectors and accessories. Eclipse
recognized the opportunity that ECCO's platform provides and we are
excited to see Bernard and Chuck take the business to the next
level."
About Dresner Partners Founded twenty
years ago, Dresner Partners is a FINRA-registered, middle-market
investment bank headquartered in Chicago, Illinois. Dresner
provides financial advisory services to business owners and
managers throughout the world, including institutional private
placements of debt and equity, merger and acquisitions, valuations
and strategic consulting services. Dresner Partners is also a
member of IMAP, an exclusive global organization of leading merger
and acquisition advisory firms. Its affiliate company, Dresner
Corporate Services, is a strategic communications firm specializing
in public and investor relations. More information is available at
www.dresnerpartners.com.
About ARRIS: ARRIS is a global
communications technology company specializing in the design,
engineering and supply of communications and IP technologies that
support broadband services for residential and business customers
around the world. The company supplies broadband operators with the
tools and platforms they need to deliver and monitor advanced
video, data and voice subscriber services, including whole home
video across multiple screens, ultra high-speed data, personalized
advertising and carrier-grade telephony. Headquartered near
Atlanta, in Suwanee, Georgia, USA, ARRIS has R&D centers in
Beaverton, OR; Chicago, IL; Cork, Ireland; Kirkland, WA; Redwood
City, CA; Shenzhen, China; State College, PA; Tel Aviv, Israel;
Wallingford, CT and Waltham, MA, and operates support and sales
offices throughout the world. Information about ARRIS products and
services can be found at www.arrisi.com.
About ECCO: ECCO specializes in connectors
of all types and maintains an extensive inventory of connectors,
components, contacts, accessories, and tools to meet customers'
immediate and scheduled requirements. More information is available
at www.eccochicago.com.
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For Media Inquiries: Stephen Mullin Director of Marketing
& Business Development Dresner Partners (312)780-7213
stevemullin@dresnerco.com For Transaction Related Inquiries:
Steven Dresner President (312) 780-7206 sdresner@dresnerco.com Paul
Hoffman Senior Vice President (312)780-7229
phoffman@dresnerco.com
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