Tuesday, October 2, 2007
Printronix Acquired For $108M In Private Equity Deal
Irvine-based Printronix, a manufacturer of printing products for the supply chain industry, said today that it has been acquired by private equity firm Vector Capital in a $108M deal. Printronix said that its stockholders will receive $16.00 in cash for each of its share in the deal, which is approximately an 18.3% premium over its closing stock price yesterday. Printronix President and CEO Robert Kleist and the rest of the firm's current executive management team will remain with the firm. Printronix was advised by Houlihan Lokey in the deal, with legal representation from Stradling Yocca Carlson & Rauth; Vector Capital was advised by O'Melveny & Myers.