|FOR IMMEDIATE RELEASE||8/10/2000|
|Pittsburgh-Based Investor Group Acquires Akron, Ohio High-Tech Manufacturer|
PITTSBURGH ? August 10, 2000 ? DKW Capital Markets, LLC announces the purchase of Quatech Inc., an Akron, Ohio-based manufacturer of data acquisition and data communication products, by a Pittsburgh-based investor group. DKW Capital Markets assisted the investor group in negotiating, structuring and obtaining financing to facilitate the purchase. The creative financing structure formed by DKW Capital Markets enabled the investor group to acquire a substantial ownership interest in the company. Through its network of financial resources, DKW Capital Markets raised a combination of preferred equity, mezzanine financing and senior debt, including a cashflow-based credit facility to close the transaction. "Quatech has an exciting future," says Steve Runkel, the new President and CEO of Quatech, Inc. "This is a strong company with a reputation for quality and a staff dedicated to designing and manufacturing the best possible products in the industry. We now have the resources required to undertake new R&D projects, expand production, and move Quatech to the next level."
Since opening in 1983, Quatech has provided innovative communication and data acquisition products for PC-based systems. It is an ISO 9001 registered manufacturer of Universal Serial Bus (USB), Peripheral Component Interface (PCI), Industry Standard Architecture (ISA), and Personal Computer Memory Card International Association (PCMCIA) communication, data acquisition, and signal conditioning products.
"We were pleased to connect Quatech with our investment resources," said Leo A. Keevican Jr., Managing Director of DKW Capital Markets, LLC. "This is a great example of how we successfully assist growing companies acquire the venture capital they need."
DKW Capital Markets is a creative and entrepreneurial investment banking firm that serves middle-market companies ($10 million to $500 million in sales). It assists these companies with accessing capital, merger and acquisition representation, and by providing financial advisory services. The DKW Capital Markets team of professionals has over 75 years of combined professional financial services experience. DKW Capital Markets has regional offices in Cleveland, Detroit and Pittsburgh and is an ancillary service of Doepken Keevican & Weiss Professional Corporation. Established in 1988, Doepken Keevican & Weiss (www.dkwlaw.com) is a business law firm with offices in Cleveland, Detroit, Harrisburg, Pittsburgh and Washington, D.C. Utilizing its ancillary services groups--DKW Capital Markets, Renaissance Partners, FiCap Strategic Partners and Concord Health Partners--the Firm provides its clients with legal, investment banking, management buy-out, financial and healthcare consulting resources. Its 130 legal professionals focus on a full range of commercial matters, including corporate mergeres and acquisitions, corporate finance and securities, banking, real estate, tax and succesion planning, intellectual property, complex civil litigation, labor and employment relations, employee benefits, environmental law, government relations, franchising and creditors' rights and bankruptcy.