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Marcum Cronus Partners Pleased to Announce Beacon Group Acquisition of TECT Newington

Dépèche transmise le 8 novembre 2011 par Business Wire

NEW YORK--(BUSINESS WIRE)--Marcum Cronus Partners LLC (Marcum Cronus) is pleased to announce it acted as the exclusive financial advisor to the Beacon Group (Beacon), a leading manufacturer of precision turbine engine parts, in the acquisition of TECT, Inc’s Newington business unit. TECT Newington is a highly regarded manufacturer of disks, hubs, shafts, rings, and other parts of up to 90” in diameter. The combined businesses are a world class manufacturer of products requiring precision turning, milling, broaching, gear shaping, Curvic© grinding and other forms of precision machining.

Robert Sarkesian, President of Beacon, stated, “The acquisition of the TECT business gives us the strategic and commercial fit we have been seeking to extend our manufacturing leadership, particularly in the large rotating parts in which both of our companies excel. Neil Bouthot, Chief Executive Officer of Beacon, added “The work force and customer base of TECT Newington are a superb fit with the highly experienced professionals of Beacon and, coupled with unique manufacturing capabilities, create a scope and capability unmatched in the industry.”

About the Beacon Group

The Beacon Group of Bloomfield, CT has 60 years experience as a premier supplier of precision aerospace machining. Its products meet the most exacting standards of the aerospace industry. The company is grounded solidly on a world class CNC turning and milling capability. To learn more, visit www.beacongp.com.

About TECT

TECT is a family of privately held, independently managed aerospace companies consisting of the TECT Aerospace and TECT Power business units. With more than 115 years of continuous operations, the TECT businesses have a unique blend of business processes, equipment, and proprietary manufacturing capabilities that have earned them leading positions in many of their product niches. To learn more, visit www.tectcorp.com.

About Marcum Cronus Partners

Advising on mergers, acquisitions, divestitures, sales, and private placement financings, Marcum Cronus Partners is an investment banking firm that provides financial advisory and investment banking services. The clients of the firm are publicly traded or privately owned companies that engage in middle-market transactions domestically or internationally. Marcum Cronus services are distinguished by a disciplined evaluation of client objectives and competencies and a commitment to the successful execution of strategic corporate transactions. A member of the Marcum Group, the firm is an affiliate of Marcum LLP, one of the largest independent public accounting and advisory services firms in the U.S. (with 23 offices and more than 1,100 professionals). To learn more, please visit www.MarcumCronus.com.