Odyssey Investment Partners Completes Acquisition of Evans Analytical Group
NEW YORK, NY, September 25, 2008 - Odyssey Investment Partners, LLC (Odyssey) today announced that it has completed its previously announced acquisition of Evans Analytical Group (EAG) (formerly LSE: EAG), a leading materials science and testing company headquartered in Sunnyvale, California.
Bill Hopkins, Co-President of Odyssey, said, We are pleased to acquire EAG, a leading player in a high-growth space with an employee base that represents the best and the brightest in its industry. We look forward to our partnership with EAGâ€™s senior management team as we collaborate to continue growing EAG and building value for its worldwide customer base.
EAG's senior management team will remain in place and will hold a significant equity stake in the company going forward.
David Lahar, Chief Executive Officer of EAG, said, We are delighted to close our transaction with Odyssey, and embark upon a new chapter of growth for our company. Our entire management team is excited to execute on the next stages of our growth strategy with the support of a leading financial partner, while continuing to deliver world-class support and services to our customers.
Financing for the transaction was provided by GE Capital, GMAC Commercial Finance and Newstone Capital Partners.
Mark Semer or Joseph Kuo
Kekst and Company
212-521-4802 or 212-521-4863
About Odyssey Investment Partners, LLC
Odyssey Investment Partners, LLC, based in New York, is a leading middle-market private equity firm with more than $1.2 billion under management. Odyssey makes majority, control investments primarily in established middle-market companies in a variety of industries, including industrial manufacturing, business, financial and healthcare services, aerospace products, and localized and route-based service businesses. For further information about Odyssey, please visit www.odysseyinvestment.com.
About Evans Analytical Group (EAG)
Founded in 1978, Evans Analytical Group (EAG) is a leading materials science and testing company that operates through two groups: (i) the Surface Analysis (SA) group, which is the worlds largest provider of microanalytical surface testing and analysis and (ii) the Release to Production (RTP) group, which provides fabless semiconductor companies and small to medium sized integrated device manufacturers with a range of testing and failure analysis services prior to product introduction. EAG serves over 2,500 customers in a broad array of industrial end markets including electronic materials, metals and alloys, aerospace and defense, solar, fables semiconductor, semiconductor capital equipment, and medical devices among others. Headquartered in Sunnyvale, California, EAG has analytical facilities in Arizona (2), California (7), Massachusetts, Minnesota, New Jersey, New York, North Carolina, Texas, China, France, Germany, Japan, Taiwan, and the United Kingdom as well as sales/support offices in South Korea, and Singapore. For more information about EAG, visit www.eaglabs.com.