Costa Mesa, Calif. - May 17, 2006, Telema SpA, a Milan, Italy-based manufacturer of industrial power resistors, has acquired Post Glover IPC Inc., Mosebach Manufacturing Company, IPC Canada Inc. and Cressall Ltd., which collectively comprise The Resistors Division, from Halma plc. Halma is a £660 million market cap (LSE: HLMA), U.K.-based company with diversified operations in three general business segments: Infrastructure Sensors, Industrial Safety and Health & Analysis.
RSM EquiCo Capital Markets participated in the complex sets of negotiations and acted as the exclusive financial advisor to Halma.
"The acquisition greatly strengthens Telema's presence in North America and internationally, giving the company increased penetration into the markets for neutral grounding resistors and dynamic braking resistors. Post acquisition, Telema now becomes the dominant provider of industrial power resistors with a truly global footprint," said Hector Cuellar, president of RSM EquiCo Capital Markets.
About RSM EquiCo Capital Markets
RSM EquiCo Capital Markets LLC (www.rsmequico.com) is a global provider of investment banking services to private companies with annual revenues of up to $500 million. The firm brings together companies, capital and creativity on a national and international scale to help clients achieve their personal and strategic objectives. RSM EquiCo Capital Markets LLC is licensed by the SEC and all state securities authorities, and is a member of the NASD and SIPC.
RSM EquiCo Capital Markets is a subsidiary of RSM EquiCo Inc., a financial services firm affiliated with RSM McGladrey Inc., one of the nation's largest providers of business and tax consulting, wealth management, retirement resources and payroll services to midsized companies.
RSM EquiCo's international headquarters are located in Costa Mesa, Calif. It also has offices in Chicago, Boston, New York, London and Coral Springs, Fla.
About The Resistors Division
Based in Cincinnati, Ohio, The Resistors Division is comprised of four separate companies with manufacturing plants in three nations: Post Glover IPC Inc. and Mosebach Manufacturing Company in the United States; IPC Canada Inc. in Canada; and Cressall Ltd in the United Kingdom. Each of the four companies manufactures various styles of industrial power resistors, including neutral grounding resistors, dynamic braking resistors, motor starting resistors, load banks and harmonic filters. The Resistors Division is No. 1 or No. 2 in world market share for each of the markets in which it competes. Each of the four companies included in the division has a long history of manufacturing power resistors; Post Glover IPC is the oldest, dating back more than a century.
About Halma plc
Halma is a publicly traded holding company that engages in the development, production, and marketing of products for public safety and work hazards in the United Kingdom and internationally. Halma's operations are divided into three business segments; Infrastructure Sensors, Industrial Safety and Health & Analysis. The company generates annual revenue of £300 million and EBITDA of £50 million.
About Telema, SpA
Telema is a Milan, Italy-based manufacturer of industrial power resistors with a focus on building resistors for applications in high-speed trains. The company has operations in Italy, France, Germany, the United States and the United Kingdom. Telema is the largest manufacturer of industrial power resistors in the world and a well-known industrial concern in northern Italy. Telema is a private company that is 100 percent owned by the Fornari family.
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