COSTA MESA, Calif., May 22, 2006 (PRIMEZONE) -- Peco Inc., a Portland-based manufacturer of sensor controls, analytical instrumentation, aerospace products and other precision engineered products, has acquired Omnex Control Systems Inc., a Vancouver-based manufacturer of wireless industrial remote controls and industrial sensor network components.
RSM EquiCo Capital Markets initiated the transaction, led the negotiations and acted as the exclusive financial advisor to Omnex Control Systems. This transaction represents RSM EquiCo's seventh cross border transaction in the last 12 months.
"The acquisition of Omnex provides Peco with direct access to the high growth area of wireless technology while adding a fifth business segment to its engineering practices. This transaction represents Peco's continued commitment to the diversification of its product offerings and customer base," said Paul Weisbrich, senior managing director for RSM EquiCo Capital Markets.
About RSM EquiCo Capital Markets
RSM EquiCo Capital Markets LLC (www.rsmequico.com) is a global provider of investment banking services to private companies with annual revenues of up to $500 million. The firm brings together companies, capital and creativity on a national and international scale to help clients achieve their personal and strategic objectives. RSM EquiCo Capital Markets LLC is licensed by the SEC and all state securities authorities, and is a member of the NASD and SIPC.
RSM EquiCo Capital Markets is a subsidiary of RSM EquiCo Inc., a financial services firm affiliated with RSM McGladrey Inc., one of the nation's largest providers of business and tax consulting, wealth management, retirement resources and payroll services to midsized companies.
RSM EquiCo's international headquarters are located in Costa Mesa, Calif. It also has offices in Chicago, Boston, New York, London and Coral Springs, Fla.
About Omnex Control Systems Inc.
Based in Vancouver, British Columbia, Omnex manufactures a complete line of industrial remote controls and wireless sensor network components. During its 20-year history, Omnex has remained at the forefront of wireless industrial applications by adapting frequency hopping spread spectrum ("FHSS") technology, originally developed for military purposes, to highly reliable, fail safe, industrial remote controls and sensor networks. Omnex's industrial remote controls are used to control critical functions on heavy machinery such as concrete trucks and cranes. The company's wireless sensor network components are used for transmitting signals from switches, actuators, sensors and transducers to programmable logic controllers allowing plant operators to remotely monitor and control such essential functions as fluid levels, temperatures, pressure flows, pH, chlorination, etc.
About Peco Inc.
Peco is a privately held manufacturer of a variety of precision engineered products for industrial markets. With a heritage of over 65 years of engineering excellence, Peco's core business segments include: aerospace products, precision manufacturing, analytical instrumentation and automation and controls. Peco's commitment to quality and customer service has most recently resulted in being named a 2005 Supplier of the Year by the Boeing Corporation. The firm is based in Portland, Ore.
RSM EquiCo is a tradename for RSM EquiCo, Inc. and its subsidiaries, which include: RSM EquiCo Capital Markets, LLC (broker-dealer licensed by the SEC and member NASD, SIPC), RSM EquiCo Canada, Inc. (limited market dealer registered with the Ontario Securities Commission) and EquiCo Europe Limited (authorised and regulated by the Financial Services Authority). RSM EquiCo, Inc. and its subsidiaries are wholly owned subsidiaries of H&R Block.