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Knox & Co. Advises on the Sale of Piper Metal Forming Corporation, U.S. Respiratory, Inc. and Pacific Cylinders, Inc.


PRESS RELEASE
FOR IMMEDIATE RELEASE

Westport, CT, June 11, 2009 – Knox & Co., a leading investment bank for middle-market and cross-border mergers and acquisitions announced that it acted as exclusive financial advisor to the shareholders of Piper Metal Forming Corporation, U.S. Respiratory, Inc. and Pacific Cylinders, Inc. in the sale of the businesses and certain assets to Worthington Industries. Terms were not disclosed.

Piper is a leading manufacturer of aluminum high pressure cylinders, and impact extruded steel and aluminum parts, serving the medical, automotive, defense, oil services and other commercial markets, with one manufacturing location in New Albany, Mississippi. U.S. Respiratory provides value-added assembly and distribution of Piper’s medical cylinder products. Pacific Cylinders provides West Coast distribution from Diamond Springs, California. The revenues of the companies were approximately $30 million for the last calendar year.

“We are pleased to have advised the owners in these transactions, especially given the current challenging M&A environment,” noted Nick Chapman, a Director of Knox. “It is gratifying to identify a new corporate home for the business and employees of the companies and to successfully manage the sale of three businesses, which as structured in the transaction, combine to offer a natural extension for an established strategic buyer.”

Knox & Co. is an investment banking, consultancy and advisory firm specializing in two complementary advisory disciplines: Investment Banking and Corporate Reorganization. The firm undertakes assignments throughout North America and abroad. Knox & Co. conducts its securities-related business through its wholly owned subsidiary, Knox Securities Corp., member FINRA. In addition, the firm enjoys a number of international strategic alliances that facilitate access to global acquirers and capital.

Knox & Co. (www.knoxandco.com) has advised on more than 200 middle-market merger and acquisition and financial advisory assignments since its inception.

Contact:
Nick Chapman
203-226-6288 (x102)
nchapman@knoxcorp.com


 
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