Ducommun Announces Closing of LaBarge AcquisitionLos Angeles - Ducommun Incorporated (NYSE: DCO) today completed its acquisition of LaBarge, Inc. As planned, Ducommun acquired all issued and outstanding shares of LaBarge at $19.25 per share in cash for a total purchase price of approximately $338 million, including the assumption of LaBarge's outstanding debt ($27.5 million). The consummation of the merger has resulted in the creation of Ducommun LaBarge Technologies ("DLT"), a business segment of Ducommun formed by the integration of LaBarge with Ducommun Technologies.
"We are pleased to announce that LaBarge is now a part of the Ducommun family, bringing together two great organizations dedicated to providing cutting-edge components and systems to a variety of growth industries in the U.S. and abroad," said Anthony J. Reardon, president and chief executive officer of Ducommun. "As a Tier 2 supplier of structural and electronic assemblies for the aerospace and defense, industrial, energy, and medical markets, we look forward to taking the next steps to expand our customer base, increase organic growth, and improve margins and cash flow generation. This is a watershed moment for Ducommun and one that we see strengthening the company and enhancing value for our stockholders going forward."
Infrared Sensors: Technologies and Global Markets
In conjunction with the closing of the transaction, Ducommun borrowed $190 million under a new senior secured term loan, entered into a senior secured revolving credit facility of up to $60 million, and issued $200 million of 9.75% senior unsecured notes due 2018.
Your company’s press release on ASDNews and to thousands of other journalists and editors? Use our ASDWire press release distribution service.
Source : Ducommun Inc.
Mar 14 - 15, 2016 - London, United Kingdom
Dec 1 - 2, 2015 - Sevilla, Spain
Mar 23 - 25, 2016 - London, United Kingdom
Feb 23 - 25, 2016 - London, United Kingdom
Dec 1 - 2, 2015 - Kuala Lumpur, Malaysia