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Brookwood Advises on the Sale of JTECH Communications
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We are pleased to announce that Brookwood Associates advised JTECH Communications, Inc., a portfolio company of Sun Capital Partners, Inc., on the sale of the Company to MICROS Systems, Inc. (Nasdaq: MCRS). JTECH is the leading provider of on-premises wireless paging systems to the hospitality, retail and healthcare markets. JTECH’s pagers are used by an estimated two million restaurant patrons each weekend night. Highlights of this assignment include:
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- Positioning of Niche Market Leader: JTECH is the dominant player in a small segment of the wireless communications industry. While there are no buyers that provide the same products to the same markets, Brookwood effectively conveyed the investment merits that were specifically relevant to acquirers in several contiguous market and product segments.
- Overcoming Transaction Challenges: Due primarily to increasingly competitive industry dynamics, JTECH experienced inconsistent profitability prior to a strong rebound in 2004. Brookwood explained the industry and Company dynamics clearly, marketed the business broadly and generated attractive interest in the Company.
- Excellent Result: Brookwood managed a process that far exceeded the value expectations of its client, while creating a strategic partnership with MICROS that is expected to yield very attractive opportunities for JTECH, its management team and MICROS.
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“This is the third time we have engaged Brookwood to sell a business. In each instance, they have provided Sun Capital with exceptional, senior-level attention and have adeptly managed complex transaction issues to achieve an attractive result."
- Rodger Krouse, Co-founder
Sun Capital Partners, Inc.
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The JTECH transaction is another example of Brookwood’s ability to effectively work with private equity clients and their respective management teams to achieve or exceed the goals of all parties involved. We welcome the opportunity to talk with you about our M&A capabilities – as well as debt and equity financings, bankruptcy / restructuring advisory assignments and fairness opinions.
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