CompuDyne Corp., an Annapolis-based security products integration and technology company for public security markets, announced the signing of a definitive purchase agreement to be acquired by a group of investors.
This group is led by The Gores Group and industry executive Stuart Mackiernan, with Clearlake Capital Group committing to provide debt and equity financing for the transaction.
Recommended Stories
A cash tender offer of $7.00 per share has also been made, and is expected to be offered to all shareholders by the end of the month, a 32 percent premium.
“This action represents the culmination of a long process of exploring the best direction for CompuDyne to take,” Martin Roenigk, chairman and chief executive officer of CompuDyne said in a statement. “Given our relatively small size, complex structure and the inordinate costs of being a public company in the post-Sarbanes Oxley era, a sale of the entire company … seemed the most appropriate step to take.”
