RF Industries Agrees to Acquire Connectivity Solutions Manufacturer C Enterprises
March 11 2019 - 12:30PM
via NEWMEDIAWIRE --
RF Industries, Ltd, (NASDAQ:
RFIL), a national manufacturer and marketer of
interconnect products and systems, today announced it has agreed to
acquire the business and assets of C Enterprises, a privately owned
manufacturer of quality connectivity solutions to
telecommunications and data communications distributors. Based in
Vista, California, C Enterprises had unaudited revenues of
approximately $8.7 million for the twelve-month period ended
December 31, 2018. The closing of the acquisition is
scheduled to occur on or about March 15, 2019.
Robert Dawson, President and CEO of RF Industries, commented,
“We are excited to announce the pending acquisition of the
operations of C Enterprises. This purchase is in line with
our previously announced strategy for growth both organically and
through acquisition. We welcome the talented group of C
Enterprises employees to our team, and look forward to working with
the company’s amazing set of loyal customers. C Enterprises
has a similar go-to-market strategy to ours and will provide us
with solid manufacturing capabilities that will strengthen our
overall offer in the market. Their strong fiber optic and
copper product offering is scalable and complementary to our
business and their West Coast manufacturing capabilities will give
us a larger footprint for fiber optic production to more easily
service our existing customers. In addition, we expect to leverage
their capabilities to enhance our small cell product offering to
the wireless carrier market which will provide opportunities for
revenue growth. The total cash outlay related to the purchase of C
Enterprises’ business and assets is currently not expected to have
a material impact on our liquidity and capital resources and we
expect the acquisition to be accretive to our earnings in fiscal
2019.”
About C Enterprises
Founded in 1984, C Enterprises is dedicated to manufacturing and
delivering reliable, quality connectivity solutions and to
providing the best customer service and absolute highest quality,
most reliable cable assemblies in the world. The Company’s
world-class U.S. manufacturing facility provides solutions
to meet virtually any custom fiber optic and copper cable
needs, and has a solid track record for producing high volumes
of cable assemblies with the fastest lead times in the
industry. C Enterprises has been offering next day service for
over 30 years. The Company is an ISO Certified, Corning
Cables System CAH Connections Gold Program member, a limited group
of companies in the United States permitted to manufacture fiber
optic cable assemblies backed by Corning's extended warranty.
About RF Industries
RF Industries designs and manufactures a broad
range of interconnect products across diversified, growing markets
including wireless/wireline telecom, data communications and
industrial. The Company's products include RF
connectors, coaxial cables, wire harnesses, fiber
optic cablesand custom cabling. The Company is headquartered
in San Diego, California with operations in New York and
Connecticut. Please visit the RF Industries website
at www.rfindustries.com.
Contacts:
RF Industries
Mark Turfler
SVP/CFO
(858) 549‑6340
rfi@rfindustries.com
MKR Group Inc.
Todd Kehrli
Analyst/Investor Contact
(323) 468-2300
rfil@mkr-group.com
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