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Article Excerpt
SANTA FE SPRINGS, Calif., Nov. 2 /PRNewswire-FirstCall/ -- Reinhold Industries, Inc. of Santa Fe Springs, California, today announced that it and an affiliate of The Jordan Company, L.P., a leading private equity investor, have signed a definitive merger agreement pursuant to which The Jordan Company will acquire Reinhold through a tender offer for all outstanding shares of common stock of the Company for $12.50 per share.
Ralph R. Whitney, Jr., Chairman of the Board of Reinhold, commented, "We are pleased to enter into this agreement, which is the culmination of a thorough review of the strategic alternatives available to Reinhold. In addition to these sale proceeds, since 2004 Reinhold has paid $20.75 in dividends per share from internal cash flow and divestiture proceeds."
Michael T. Furry, President and Chief Executive Officer of Reinhold, commented, "The Reinhold team is excited by the opportunity to partner with The Jordan Company and build on Reinhold's market position as a leading supplier of specialty niche composites."
Jonathan F. Boucher, Managing Principal of Jordan, commented, "We look forward to working with the Reinhold management team to build a...
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