PIII P3 Partners Inc

GALION, Ohio, Oct. 7 /PRNewswire-FirstCall/ -- PECO II, Inc. (NASDAQ:PIII), a manufacturer of communications power systems and full-service provider of engineering and on-site installation services, announced today that its Board of Directors is engaged in a process to explore strategic alternatives to enhance shareholder value, including, but not limited to, opportunities to acquire, merge with or sell to similar U.S. or foreign businesses. PECO II has retained Western Reserve Partners, an investment banking firm based in Cleveland, Ohio, as its exclusive financial advisor in this process. PECO II does not intend to disclose further developments with respect to the exploration process until its Board of Directors has deemed it appropriate to do so. No decision on any particular alternative has been reached at this time, and there can be no assurance that this process will result in a transaction or other alternative. Forward-Looking Statements Statements in this release that are not historical fact are forward- looking statements, which involve risks and uncertainties that may cause actual results or events to differ materially from those expressed or implied in such statements. Forward-looking statements in this press release include statements about the Company's review of various strategic alternatives. Factors that may cause actual results to differ materially from those in the forward-looking statements include, but are not limited to, PECO II's ability to identify desirable strategic alternatives, the failure to successfully consummate any strategic alternative or, if consummated, the failure of such alternative to achieve PECO II's objectives; the level of interest of third parties in pursuing possible strategic transactions; a general economic recession; a downturn in our principal customers' businesses; the growth in the communications industry; the ability to develop and market new products and product enhancements; the ability to attract and retain customers; competition and technological change; and successful implementation of the Company's business strategy. In addition, this release contains time- sensitive information that reflects management's best analysis only as of the date of this release. PECO II does not undertake any obligation to publicly update or revise any forward-looking statements to reflect future events, information or circumstances that arise after the date of this release. Further information concerning issues that could materially affect financial performance related to forward-looking statements can be found in PECO II's periodic filings with the Securities and Exchange Commission. About PECO II, Inc. PECO II, headquartered in Galion, Ohio, designs, manufactures, and markets communications power systems and power distribution equipment, and provides engineering and on-site installation services. As the largest independent full-service provider of telecommunications power systems, the Company provides total power quality and reliability solutions, and supports the power infrastructure needs of communications service providers in the wireline, wireless, and broadband markets. Additional information about PECO II can be found at http://www.peco2.com/ . About Western Reserve Partners LLC Western Reserve Partners LLC is a boutique investment banking firm that provides customized investment banking solutions for middle-market companies. The firm's managing directors collectively have more than 160 years of experience and have directly executed more than 550 transactions and managed more than 1,300 transactions. For more information, please visit http://www.wesrespartners.com/ . For more information, contact: John G. Heindel Chairman, President, Chief Executive Officer, Chief Financial Officer and Treasurer Tel: 419-468-7600 DATASOURCE: PECO II, Inc. CONTACT: John G. Heindel, Chairman, President, Chief Executive Officer, Chief Financial Officer and Treasurer, of PECO II, Inc., +1-419-468-7600 Web Site: http://www.peco2.com/ http://www.wesrespartners.com/

Copyright