Rockville, MD, March 12, 2003/PRNewswire/Aronson Capital Partners, LLC, (ACP) merger and acquisition advisors to the federal information technology and professional services industry, announced today that it completed the sale of Darlington, Inc. to EDO Corporation (NYSE: EDO). ACP initiated and structured this transaction on behalf of Darlington.
“The current market environment provides a unique opportunity to maximize shareholder value for smaller, niche companies serving intelligence, homeland security, and defense clients,” commented Aronson Capital Partners President Larry Davis. “The pace of consolidation continues to be brisk in these markets as owners of well-positioned companies elect to take advantage of this attractive market window.”
The EDO-Darlington transaction marks the third transaction completed in this market sector by ACP since September. Earlier this year, ACP completed the sale of Remtech Services, Inc. to SCB Computer Technology, Inc as well as the acquisition of CCI, Inc. by Stanley Associates.
Aronson Capital Partners, LLC (“ACP”) is an investment bank which provides a full range of corporate finance services to federal information technology and professional service companies to assist them in achieving their growth and liquidity objectives. With more than 60 years of combined industry experience, the principals of ACP have a proven track record of completing successful transactions with middle-market companies. Securities transactions are executed by Aronson Capital Advisors, LLC (member NASD-SIPC) an affiliate of ACP.
Darlington Incorporated is a rapidly growing communications company that offers a full range of services to military, civilian agency, and commercial clients. Darlington specializes in the design, integration, and field support of satellite communication systems, IT LANs and WANs, command and control (C2), and Land Mobile Radio Systems. The Company was founded in 1986 and is headquartered in Arlington, Virginia, with field offices in San Diego, CA, Virginia Beach, VA, Honolulu, HI, and a production facility in Charleston, SC. Additionally, the Company maintains offices in Stuttgart, Germany, and in Eastern Europe and the Balkans, including offices in Kosovo, Macedonia, and Greece.