M&A Deal Summary

Blonder Tongue Acquires R.L. Drake

On February 1, 2012, Blonder Tongue acquired electronics company R.L. Drake from Hastings Equity Partners for 7M USD

Acquisition Highlights
  • This is Blonder Tongue’s 1st transaction in the Electronics sector.
  • This is Blonder Tongue’s largest (disclosed) transaction.
  • This is Blonder Tongue’s 1st transaction in the United States.
  • This is Blonder Tongue’s 1st transaction in Ohio.

M&A Deal Summary
Date 2012-02-01
Target R.L. Drake
Sector Electronics
Buyer(s) Blonder Tongue
Sellers(s) Hastings Equity Partners
Deal Type Add-on Acquisition
Deal Value 7M USD

Target

R.L. Drake

Franklin, Ohio, United States
website
R.L. Drake, LLC is a manufacturer of video signal modulation and transcoding equipment for cable television (CATV) headends. Headends are the primary network equipment that receives the core broadcast signal and converts and allocates the signal over different channels for distribution to end viewers. R.L. Drake sells headend equipment to CATV equipment distributors, systems integrators, CATV buying co-ops, service providers, and telephone companies.

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Buyer(S) 1

Buyer

Blonder Tongue

Old Bridge, New Jersey, United States

website

Category Company
Founded 1950
Sector Electronics
Employees84
Revenue 18M USD (2022)
DESCRIPTION

Blonder Tongue is a global communication equipment supplier for TV broadcasters, cable system operator, lodging video, Internet system and institutional systems,etc. Blonder Tongue was incorporated in 1950 and is based in Old Bridge, New Jersey.

DEAL STATS #
Overall 1 of 1
Sector (Electronics) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Ohio) 1 of 1
Country (United States) 1 of 1
Year (2012) 1 of 1
Size (of disclosed) 1 of 1

Seller(S) 1

SELLER

Hastings Equity Partners

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 2004
Size Middle-Market
Type Sector Focused
DESCRIPTION

Hastings Equity Partners is a private investment firm focused on small to mid-sized enterprises in the business and industrial services sector. Hastings looks to invest in and acquire North American companies with trailing EBITDA of $5 to $20 million. Hastings looks for control situations only and will consider funding buyouts (LBOs, MBOs), recapitalizations, and growth capital financings. Hastings Equity Partners was formed in 2004 and is based in Boston, Massachusetts.

DEAL STATS #
Overall 3 of 20
Sector (Electronics) 1 of 1
Type (Add-on Acquisition) 2 of 6
State (Ohio) 1 of 1
Country (United States) 3 of 19
Year (2012) 1 of 3
Size (of disclosed) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-11-11 Advanced Pipeline Services

Sinton, Texas, United States

Advanced Pipeline Services, Inc. provides midstream oilfield construction and maintenance services. Headquartered in Sinton, TX, APS works with O&G exploration and production companies in addition to natural gas transportation companies to maintain and install their pipeline and field processing infrastructure.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-05-01 Wright Trucking

Perryton, Texas, United States

Wright Trucking is a provider of fluid management logistics and disposal services for oil and gas exploration and development companies to support production in the Granite Wash and Barnett shale plays.

Buy $11M
Mergr

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