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Seattle, Washington | 13 January, 2011 - Global M&A, one of the world's leading independent M&A advisory firms, today announced the successful sale of its client, VIOX Corporation, to Ceradyne, Inc. The purchase price consists of approximately $27 million in cash paid at closing plus contingent payments of up to $22 million.
Bill Coats, founder and Chairman of VIOX said, "The Meridian team did a remarkable job for us. Their people are very knowledgeable, professional and brought in several competitive letters of intent. We are very pleased to pass along our company and excellent management team to a class-act company like Ceradyne."
Chuck Wilke, Managing Director at Meridian Capital commented on the transaction, "Meridian is very happy for the VIOX shareholders and management team. The Company remained focused and maintained excellent performance throughout an active transaction process. We believe Ceradyne is uniquely positioned to add-value to VIOX due to its strong balance sheet and tremendous ceramic technology capabilities."
Global M&A United States West served as the exclusive advisors to VIOX
About Global M&A
Global M&A is one of the world's leading independent M&A advisory firms. Specialized in the middle market, we provide support and opportunities locally and internationally for clients buying or selling companies as well as financings, corporate restructurings and other corporate finance transactions. www.globalma.com
Established in 1971, VIOX develops and manufactures specialty glass compositions for a wide range of electronic, industrial and health care markets. Over its history, the Company has established itself as a leader in glass engineering capabilities and manufacturing purity. In recent years, VIOX has developed a specialty glass formulation for polycrystalline silicon photovoltaic solar applications, which has driven significant revenue growth. For the twelve-month period ended September 30, 2010, VIOX had sales of approximately $22 million with strong operating margins. www.viox.com
Ceradyne is a leading developer, manufacturer and marketer of advanced technical ceramic products and components for defense, industrial, energy, automotive/diesel and commercial applications. www.ceradyne.com
Global M&A United States West
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