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Earl Scheib, Inc. Acquired by Kelly Capital, LLC for $2.00 Per Share in Cash Merger.

Publication: Business Wire
Publication Date: 30-APR-09 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
SAN DIEGO -- Kelly Capital, LLC, a San Diego-based private equity fund, today announced the completion of its acquisition of Earl Scheib, Inc. (Pink Sheets:ESHB) for a purchase price of $2.00 per share in cash. This transaction, inclusive of debt assumed and transaction costs, is valued at approximately $16.7 million. Pursuant to the terms of a previously announced agreement and plan of merger, at the effective time of the merger today, each share of Earl Scheib common stock was automatically converted into the right to receive $2.00 in cash, without interest. Earl Scheib stockholders will receive information in the mail on how to receive payment for their shares.

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