June 10, 2015 16:20 ET
StoneCalibre Acquires Broadcast Microwave Services, Inc. From Cohu, Inc.
Industry: Aerospace and Defense
LOS ANGELES, CA–(Marketwired – Jun 10, 2015) – StoneCalibre, LLC (“StoneCalibre”) is pleased to announce that one of its affiliates has acquired Broadcast Microwave Services, Inc. (“BMS” or the “Company”), a subsidiary of Cohu, Inc. (NASDAQ: COHU) (“Cohu”). Headquartered in Poway, CA with an additional sales and service office in Taunusstein, Germany, BMS designs, develops, and manufactures mobile microwave communications equipment including transmitters, receivers, antennas, and accessories that enable the transmission of real-time video, audio, telemetry, and sensor data from manned aircrafts, unmanned aerial vehicles (“UAVs”), and ground platforms.
For over 33 years, BMS has been designing and manufacturing a portfolio of leading edge technology systems that serve a diverse, high quality customer base within the government surveillance, law enforcement, UAV, and broadcast end markets. The Company’s reputation for both industry-leading products and premier customer service has established BMS as among the market leaders in the mobile microwave industry and a prime candidate in the high-growth commercial UAV market.
“We are delighted to welcome the talented employees of BMS to the StoneCalibre portfolio as our first platform investment in aerospace and defense,” said Brian Wall, Founder and Chief Executive Officer of StoneCalibre. “BMS is truly the downlink expert in this industry, and the product portfolio that BMS has developed is exceptional. We appreciate the opportunity to continue to serve the Company’s customer base and support their mission critical needs.”
“StoneCalibre approached the entire process with the utmost professionalism,” said James A. Donahue, Executive Chairman of the Board of Cohu. “At every stage, StoneCalibre demonstrated a thorough and thoughtful approach, and they gave us confidence around their ability to both execute and deliver transaction certainty.”
Graham Bunney, President and VP of Engineering of BMS, expressed his enthusiasm for partnering with StoneCalibre. “This transaction represents a defining moment for the Company. With the backing of StoneCalibre, we are committed to exploring all avenues to further our relationships with existing and potential new customers.”
Philpott Ball & Werner, LLC acted as the exclusive financial advisor to Cohu.
Headquartered in Los Angeles, CA, StoneCalibre is a privately funded investment firm specializing in the acquisition of lower middle market companies. Founded by Brian Wall in late 2012, StoneCalibre is focused on making investments in both special situations and quality long-term capital investment opportunities. For more information please visit our website at www.stonecalibre.com.
Cohu is a leading supplier of semiconductor test and inspection handlers, micro-electro mechanical system (MEMS) test modules, test contactors and thermal sub-systems used by global semiconductor manufacturers and test subcontractors as well as a supplier of mobile microwave communications equipment.
For press releases and other information of interest to investors, please visit Cohu’s website at www.cohu.com.