Nov 03, 2009
Tyden Group announced today the acquisition of E.J. Brooks Company, a leading provider of security seals and metering related products. The primary equity financing for the acquisition was provided by Crimson Investment and Bertram Capital with debt financing provided by an affiliate of DE Shaw and a syndicate of senior lenders led by Wells Fargo.
Both Tyden Group and EJ Brooks have been operating for over 100 years and provide highly complementary specialized corporate security products. The headquarters of the combined company will be Livingston, New Jersey and the company will operate facilities across North America, Europe and Asia.
Ian Morton, a Partner at Crimson Investment, commented, "We are very excited about combining two such well established brands in the industry. The combination immediately provides our customers with a broader product portfolio and access to a global sales and service network. This strong platform augmented with expanded new product development and manufacturing operations in Asia, Europe and North America should create new market opportunities and further accelerate the growth of the business".
"We believe Tyden Brooks is very well positioned in each of its respective target markets and in a strong position to capitalize on the increasing number of converging regulatory mandates that are driving adoption of its security products across the globe," stated Jeff Drazan, Managing Partner of Bertram Capital.
Following the acquisition, the company will be operated as three separate business units:
Tyden Brooks Security Products Group - The two global security seal companies, formerly TydenBrammall and E.J. Brooks, will be combined to form the Tyden Brooks Security Products Group. This division provides single use serially marked security seals used across a wide range of cargo security applications.
Tyden Brooks Utility Products Group - This division is a supplier of metering-related products such as meter adapters, test switches, meter sockets and seals sold primarily to electric and gas utilities.
Telesis Technologies - The Telesis division provides direct part marketing systems. These systems use specialized lasers or mechanical mechanisms to place unique identifier codes on a wide range of products and materials that are used for product identification and traceability applications.
"The Utility Products Group will continue to benefit from long-term growth trends within the electric utility industry driven by the utility replacement and upgrade cycle and adoption of smart grid technology," added Kevin Yamashita, Vice President of Bertram Capital. "Likewise, with a full suite of product marking systems, Telesis is positioned for ongoing growth from increased demand for component identification to ensure product integrity, traceability, inventory accountability and quality control."
About Tyden Group
Tyden Group companies have become leaders in their industries by providing the global customers with innovative and customized security solutions and product identification technology. Through its two divisions, TydenBrammall and Telesis Technologies the Company provides products that ensure greater security for the transportation of goods and increased efficiency throughout the global supply chain.
About E.J. Brooks
E.J. Brooks' security products are used by a diverse number of industries to safeguard their revenue and assets. The Company provides security seals and locking devices and metering related products to the transportation, retail, money handling, chemical, pharmaceutical, healthcare and utility industries.
About Crimson Investment
Established in 1993, Crimson is an international private equity firm focused on investments in manufacturing and services companies.