Mesirow Financial Advises Telefonix PDT on its Sale to Astronics Corporation
CHICAGO, March 22, 2018 – Mesirow Financial acted as the exclusive financial advisor to Telefonix, Inc. and a related company, Product Development Technologies, LLC (together as “Telefonix PDT” or the “Company”), on its sale to Astronics Corporation (“Astronics”).
Located in Waukegan and Lake Zurich, IL, Telefonix PDT is a full-service product design, development and manufacturing company that supplies advanced, in-flight entertainment and connectivity equipment to the aerospace industry. Astronics, headquartered in East Aurora, NY, is a leading provider of high-performance lighting, electrical power, specialized avionics products and automated test systems for the global aerospace and defense industries.
Andrew Carolus, managing director of Mesirow Financial’s Investment Banking group commented, “Mesirow Financial was honored to represent Telefonix PDT. We believe this strategic partnership will further the Company’s long-term growth objectives.”
The transaction represents another successful assignment completed by Mesirow Financial’s Investment Banking group. With extensive sector-specific expertise and deep long-standing relationships, Mesirow Financial’s dedicated aerospace and defense team has a proven track record of completing highly complex and successful transactions.
About Telefonix, Inc. and Product Development Technologies, LLC
Telefonix is a design, manufacturing and management company with nearly 25 years of experience in highly regulated industries. Telefonix was founded on the strength of its retractable cabling technology, but with over 80 patents issued to date, the company has become a leader in technology development and execution for complex mechanical and electrical assemblies. Product Development Technologies provides industry-leading design consulting services. By understanding the complex relationship between design and life cycle management, Telefonix PDT excels at delivering products today that can be supported and upgraded tomorrow. To learn more, please visit telefonixinc.com and pdt.com.
About Astronics Corporation
Astronics Corporation (NASDAQ:ATRO) is a leading supplier of advanced technologies and products to the global aerospace, defense and semiconductor industries. Astronics’ products and services include advanced, high-performance electrical power generation and distribution systems, seat motion solutions, lighting and safety systems, avionics products, aircraft structures, systems certification and automated test systems. Astronics’ strategy is to increase its value by developing technologies and capabilities, either internally or through acquisition, and using those capabilities to provide innovative solutions to its targeted markets and other markets where its technology can be beneficial. Through its wholly owned subsidiaries, Astronics has a reputation for high-quality designs, exceptional responsiveness, strong brand recognition and best-in-class manufacturing practices. To learn more, please visit astronics.com.
About Mesirow Financial
Mesirow Financial is an independent, employee-owned firm founded in 1937. As specialists in investment, risk management and advisory services, we are committed to helping our institutional, corporate and individual clients achieve their objectives. Our professionals are inspired by an entrepreneurial desire to develop tailored solutions that deliver measurable results. To learn more, please visit mesirowfinancial.com.