Dresner Partners Advises ARRIS Group, Inc. on the Divestiture of Its Subsidiary, Electronic Connector Corporation, to Eclipse Embedded Technologies
|Thursday, April 5, 2012|
FOR IMMEDIATE RELEASE
DRESNER PARTNERS ADVISES ARRIS GROUP, INC. ON THE DIVESTITURE OF ITS SUBSIDIARY, ELECTRONIC CONNECTOR CORPORATION, TO ECLIPSE EMBEDDED TECHNOLOGIES
CHICAGO – April 4, 2012 – Dresner Partners, a leading FINRA-registered, middle-market investment bank, recently advised ARRIS Group, Inc. (NASDAQ: ARRS) on the divestiture of its subsidiary, Electronic Connector Corporation (ECCO), to Eclipse Embedded Technologies. Terms of the transaction were not disclosed.
Located in Chicago, Illinois, ECCO is a leading distributor and value added assembler of niche electronic connectors and accessories to OEMs and distributors across a wide range of industries and geographies as well as to the U.S. government.
“This is a great opportunity for our customers and suppliers, and will bring additional new skills in demand creation, marketing, and value added capabilities to our team,” said Chuck Engvall, Chief Operating Officer at ECCO.
Along with Engvall’s 30 plus years of leadership experience, ECCO will benefit from the distribution experience of Eclipse founder, Bernard Gizzi. “The financial stability and industry tenure of ECCO is impressive,” stated Gizzi. “Going forward, I will be working with Chuck to support the further growth of the company as we meet the ever increasing needs of our customers and suppliers for new product design, innovation, and business expansion.”
“This transaction represents a win-win outcome for all involved. ARRIS is very pleased with the results and we also believe that Eclipse is a strong fit for Chuck and his team. We thank Dresner Partners, and the team led by Paul Hoffman, for finding a great buyer for ECCO and conducting a thorough and well coordinated process,” said Larry Margolis, ARRIS’ Executive Vice President of Strategic Planning, Administration and Chief Counsel.
“It was a pleasure working with ARRIS, ECCO as well as Eclipse in pulling this deal together,” said Paul Hoffman, Senior Vice President at Dresner Partners. “ECCO’s market position and strong track record combined with Eclipse’s strategic vision and industry relationships provide a great opportunity for the combined entity to further penetrate the electronic connector niche.”
Steven Dresner, President at Dresner Partners said, “ECCO has an excellent reputation for offering a unique and broad portfolio of niche, high quality electronic connectors and accessories. Eclipse recognized the opportunity that ECCO’s platform provides and we are excited to see Bernard and Chuck take the business to the next level.”
About Dresner Partners
Founded twenty years ago, Dresner Partners is a FINRA-registered, middle-market investment bank headquartered in Chicago, Illinois. Dresner provides financial advisory services to business owners and managers throughout the world, including institutional private placements of debt and equity, merger and acquisitions, valuations and strategic consulting services. Dresner Partners is also a member of IMAP, an exclusive global organization of leading merger and acquisition advisory firms. Its affiliate company, Dresner Corporate Services, is a strategic communications firm specializing in public and investor relations. More information is available at www.dresnerpartners.com.
ARRIS is a global communications technology company specializing in the design, engineering and supply of communications and IP technologies that support broadband services for residential and business customers around the world. The company supplies broadband operators with the tools and platforms they need to deliver and monitor advanced video, data and voice subscriber services, including whole home video across multiple screens, ultra high-speed data, personalized advertising and carrier-grade telephony. Headquartered near Atlanta, in Suwanee, Georgia, USA, ARRIS has R&D centers in Beaverton, OR; Chicago, IL; Cork, Ireland; Kirkland, WA; Redwood City, CA; Shenzhen, China; State College, PA; Tel Aviv, Israel; Wallingford, CT and Waltham, MA, and operates support and sales offices throughout the world. Information about ARRIS products and services can be found at www.arrisi.com.
ECCO specializes in connectors of all types and maintains an extensive inventory of connectors, components, contacts, accessories, and tools to meet customers’ immediate and scheduled requirements. More information is available at www.eccochicago.com.
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